You will no doubt have a good reason for wanting to start a particular type of business. You may for instance:
- Have spotted a gap in the market
- Been made redundant and therefore want to set up on your own using your redundancy.
- You may wish to invest/buy an existing business or franchise.
Whatever your business idea is or your reasons behind it, it will cost time and money. Starting a business is always risky, particularly when setting up from scratch. Even with the best professional advice from your Accountant/Solicitor, unforeseen problems can occur causing the business setbacks.
You need to ask yourself the following questions in order to be aware of the pitfalls that lie ahead:
- Where are you now?
- Where are you going?
- How will you get there?
- What will it cost?
- How much help will you need?
- What will you get out of it?
A lot of the answers will be gained from completing the initial ‘Am I suited for self employment’ questionnaire at the beginning of the Flying Start guide. However, further guidance will come from the market research undertaken before taking the step into self employment.
Following all the advice and recommendations given in our booklet and by other spheres of influence is no guarantee that you will succeed.
Nevertheless, following the advice given will prepare you properly for the problems you are likely to face. Undertaking your market research and completing a business plan will help you to put your ideas into action. Furthermore such documents will help you to convince others, for example your Bank Manager, that your idea is viable when you have to approach them for financial support.
How we can help you
Why not bounce your business idea off us? Having had many years experience in looking after new starter businesses, we shall happily give you a balanced opinion on your ideas and proposals.