There has never been a better time to start a business. 2011\/12 marked a record high for doing just that; over 450,000 people set up a company and became their own boss. This is your opportunity to join the 4.14 million self-employed people and the 4.5 million small businesses in the UK.<\/p>\n
Students are turning their talent into a way of making a living whilst experienced professionals are opting for the freedom and flexibility that comes with selfemployment<\/a>. Mums are spotting gaps in the market and the over 50\u2019s are surging ahead when it comes to launching new ventures. No matter your age or standing, there is potential to turn a passion or skill from your professional or social life into a bright business idea. And by doing so embracing free and low-cost technology<\/a> that enables you to sell to local markets and reach customers on a global scale.<\/p>\n Low start-up costs \u2013 most businesses can now start on a bootstrap of a budget and for less than \u00a3100. With a smartphone and business card in hand, you can make sales and set up operations with ease, and from home.<\/p>\n Enabling technology \u2013 social media platforms and trading sites offer start-ups a powerful route to market. Selling and promoting yourself online is affordable and achievable and successful businesses are being built on Facebook and promoted via Twitter, YouTube and LinkedIn, selling everything from morph suits to graphic design, financial services and artisan goods.<\/p>\n High level of support \u2013 when starting a business, you won\u2019t be alone! There is an abundance of support to help you start and grow, including:<\/p>\n When starting out in business, there are important things to consider. Ask yourself \u2013 is your idea a sound business proposition? Is there a market and demand for you to make sales and make a profit? Think about the cost and time elements of the business. Are you aiming for something innovative and niche and \/ or can your product or service match or beat your competition? You don\u2019t need to know the answers immediately; you can make a plan and work on this whilst \u2018Working 5 to 9\u2019 – keeping hold of the day job, being a parent or studying by day and building the business at night and weekends. And you\u2019re not alone \u2013 there is plenty of guidance and support available to help you bring a business idea to life.<\/p>\n Make a plan \u2013 write a business plan that acts as your route map. The best business plans are simple and clear, addressing key areas like:<\/p>\n Whether you are looking for funds or recruiting an experienced helping hand, there\u2019s a wide range of support on offer.<\/p>\n The longer term ambition may be to secure a workshop or commercial premises but for now this might not be affordable or desirable as a start-up or a firm in its early stages.<\/p>\n Your home may offer you your biggest business resource \u2013 join 55% of businesses that start from home and take advantage of reduced costs, no commute and the flexibility that comes with building a business around the family. Find out how to make homeworking work for you by downloading The Home Business Guide (www.bis.gov.uk\/home-business-guide<\/a> ), which offers guidance on everything from home office layout to trading responsibly when it comes to insurance, business rates and health and safety.<\/p>\n If your business outgrows your home or working from home isn\u2019t practical, consider incubator space, co-working\/enterprise hubs, and accelerators. These offer office and workshop facilities alongside support, advice and peer-to-peer learning to help businesses establish themselves.<\/p>\n There are several funding options available to help you start or run your business, and several ways to find it.<\/p>\n Try using Finance Finder and Business Finance Explained to understand and locate funding options and wider business support on offer. www.improve.businesslink.gov.uk\/resources And from June 2012 you can download Finance Finder as a free mobile app by searching for \u2018BL Support\u2019 in the App Store or Google Play.<\/p>\n Business Finance for You (www.businessfinanceforyou.co.uk) enables businesses to identify sources of finance by region, sector or purpose. This is supported by Better Business Finance (www.betterbusinessfinance.co.uk) which offers practical help, advice and tips to businesses seeking finance.<\/p>\n Other modest sources of funding are available from sources such as Shell LiveWIRE which give up to 4 x \u00a31000 cash awards via the monthly Grand Ideas Awards www.shell-livewire.org\/awards<\/p>\n The Institute of Chartered Accountants in England and Wales (ICAEW) and its members provide a Business Advice Service, which offers free advice to businesses in over 2,400 locations across the country. ICAEW accountants can offer guidance on topics from finding finance, dealing with regulation and export planning. www.businessadviceservice.com<\/p>\n If it\u2019s small amounts of credit you\u2019re after, microfinance providers like Community Development Finance Institutions can offer loans from a few hundred pounds up to \u00a325,000 (www.findingfinance.org.uk).<\/p>\n Feeling interested in business topic? You can read through the book now!<\/p>\n","protected":false},"excerpt":{"rendered":"Easily said and easily done: 3 good reasons to start a business today:<\/h3>\n
\n
4 Top Tips<\/h3>\n
\n
Support on offer<\/h3>\n
Space<\/h4>\n
Home-Based Business<\/h4>\n
Incubators<\/h4>\n
Finding Finance<\/h3>\n