Category: Considering Starting Up?
-
Starting a business: the basics
If you are considering starting up a new business, you need to consider a number of factors to ensure the best chance of success. As well as your product or service, you will need to think about what you will call your business, what sort of structure it will have and how you are going…
-
Family-run businesses
A family-run business is typically one in which more than half the shares are controlled by members of the same family, or one that has been passed between generations. Starting, leading and working in a family business can bring valuable benefits compared with other businesses – from greater trust between staff to increased flexibility. However,…
-
Common mistakes when starting up – and how to avoid them
Launching a small business can be risky and success is not always guaranteed. Businesses are most vulnerable to failure during the early years of trading, with 20 per cent of new businesses folding within their first year and 50 per cent within their first three years. These figures should not scare you off, but should…
-
Starting a part-time business
Starting a business, although highly exciting, is a big step to take. Sometimes before you take the plunge into full-time business ownership, it might be better and easier to think about doing it on a part-time basis, as a way of ensuring the business idea will work. If you are employed part-time, or have young…
-
How do I survive until my business is off the ground?
It can be a number of months before a new business is profitable and generating a cash surplus. You may need alternative sources of income during this period, if only to cover your outgoings. If your business does make a profit, you may want to re-invest it to help your business develop. This guide gives…
-
Research and develop your business ideas, new products and services
Developing your business idea into a viable product or service is a critical part of building a business. Thorough assessment and market research at an early stage will help you to establish whether there is a market for your product or service. Once you begin trading, new products and services will be very important, and…