More often than not, the idea of starting a business seems way too complex and frightening. Most believe they wouldn’t be able to handle the challenges or have no idea what awaits them. And so, they decide not to pursue an idea or a dream and quit before they even start.
When setting up a new business there are many things to think about but probably the first key thing to decide on is what kind of business do you want to set up – which business entity will work best for what you want to achieve?
“Don’t start a company unless it’s an obsession and something you love. If you have an exit strategy, it’s not an obsession” – said Marc Cuban, a well-known American entrepreneur. Running a startup is much harder than many aspiring entrepreneurs could have imagined. You might have difficulties in different spheres including communication, project management, marketing, and sales. Thus, it is important to ensure that you are well prepared and equipped with reliable tools to handle such activities.
For a lot of people, starting their own business requires a huge leap of faith. The reason behind this is simple – it is most often a step into an unfamiliar world, where you cannot be sure whether any of it is going to work out, even if you have a brilliant business idea. However, the very fact that you are seriously thinking about it is already enough for a good start. You are aware of the risks, and you have already heard all the intimidating statistics on startup failure.
In the latest survey carried out by Instantprint, it was found that the East Midlands, Leicester topped the list of places for millennials to start a business. The research took into account what is important to millennials, their core values and the challenges they face when it comes to starting a business.
When running a business there is a lot of office equipment that will be necessary for running your business effectively. To be able to run your business startup you will need to prioritise which office equipment you will need when you first set up your business office. You need to ensure that you start off with only the necessities as the initial start-up of the business can be very costly.
If you search for health and safety procedures online, it looks like an absolute minefield. In reality, it is pretty easy to get to grips with. The Health and Safety at Work Act 1974 is a piece of legislation and guidelines put into place to protect your employees, customers, visitors to your premises and you from harm.
As an entrepreneur, you shouldn’t start your business without considering the prime location options. Some destinations may be more beneficial for businesses than others, and you should take this into account before settling on any place. The UK is widely known to be a business hub, in particular, London – a city that’s regarded as a world leader in business and finance.
If you have made the decision to go for the easier and more beneficial way of accounting then you have come to the right place. The next step is ensuring that you pick the right kind of accounting software for you, your business and your staff. There are several different factors you need to take into consideration to choose the best accountancy software to meet your small business needs.
You might have a fantastic business idea that you think can make you an instant success, however it pays to be a little cautious. You need to invest time in making sure that this new incredible idea you have is actually reasonable. Starting a business can be a risky affair, however, if you take the plunge of starting a business without a reality check, then failure may be inevitable.
We’ve all heard the stories of companies that started in a garden shed to eventually be sold to Google for billions. So many founders and aspiring entrepreneurs share this dream. But building your start-up for a trade sale takes a lot of forward-planning. Where do you even start?
Whether you are a one-man band or the proud owner of a restaurant empire, you can leverage technology in your business. retail POS systems level the playing field between David and Goliath by making technology more accessible — it was previously only an option for larger companies.
The name of a business combined with the business brand make up a company’s identity. Picking the right name for your small business can be challenging because having the perfect name can actually effect your chances of succeeding. You need to find a name that is unique, easy to remember, easy to spell, that represents your business and can actually be trademarked. There are a lot of things to consider, so picking a name for your business can be a daunting process.
If you are thinking of selling, renting out or building business premises, you need to be aware of what an Energy Performance Certificate (EPC) is and why you will need one. If you do not pay attention to this requirement and ensure that you have an EPC in place, you could end up facing costly fines. Here is a guide from EPC For You to get you prepared.
Business growth is what every entrepreneur wants to see. But as your fledgeling organisation begins to spread its wings, you will likely find yourself spread ever thinner, spending more of every day distracted by things that have nothing to do with your core business.
If you are thinking about taking your business online or starting an online business from scratch then you will need to choose the right online payment system. There are a variety of online payment options to consider if you are setting up your business online. You will need to keep in mind the ease of using each method, the transaction fee rates, the help and advice available, as well as other factors.
With the average UK start-up spending over £22,000 in its first year, finding ways to reduce costs early on can be the difference between survival and going under. Here are some tips on how you can reduce your start-up costs.
Some people are comfortable with the routine and regular income that comes from being an employee. If being an employee suits you then that’s great. However, for some people being an employee can feel like an inescapable trap. If you start feeling like that then you should consider starting your own business. You will need certain skills to thrive as a business owner, but most importantly you need to be a leader and be focused in order to be a good entrepreneur.