For small businesses, and particularly microbusinesses, securing funding is a credible and positive way to grow your business. But, if like many business owners, you don’t have a background in finance, knowing where to go, who to approach, not to mention understanding the complex language & terminology, the process can be time consuming, confusing and pretty painstaking.
Nobody’s perfect, especially not a freshly budding entrepreneur. Because however perfect your concept may be, and however much you may believe that there is no man better for the project than you, this does not make you bulletproof.
There are so many things to think about when starting up your own business, but don’t let them overwhelm you. As long as you keep your head up and concentrate on what matters, you should find your feet sure enough. But, before you get started, have you considered the following? This could make or break your business, so pause for a moment and reflect.
Posted on 22nd June 2015 in Start-ups.
It might be something you’ve been dwelling on for a while, or maybe it manifested as a sudden spark of sheer inspiration; either way, even your best business idea can be hard to get off the ground. Unless you’re well versed in the business world (which most entrepreneurs initially are not), just understanding where to start is hard enough.
Posted on 19th June 2015 in Start-ups.
For small and medium-sized enterprises (SMEs), accessing initial start-up finance or funding for growth can be a daunting and stressful prospect. While bank lending is on the rise, the selective nature means many businesses are still struggling to access the finance they need.
Launching a new business can be exciting, but there are a number of processes that an entrepreneur will need to consider to ensure its success. For example, during the start-up stage, entrepreneurs can risk everything by failing to get to grips with the required legalities. Here I will take a look at some of the biggest legal pitfalls to look out for when setting up a business and discuss how these can be avoided.
How does it all start? It starts with a spark of inspiration. You see a gap in the market, an unmet need, a social problem that could be addressed with thought, innovation and hard work.
When you set up a business, it’s important to put the framework in place so that you protect your business ideas and goodwill, set out clearly the relationship between founding partners and manage any employees you have efficiently. It may not be the first thing on your mind, but a little attention to this at the outset could save you a nasty headache down the line.
When it comes to growing your business from a small start-up based at home or in a small office, to a fully established business, there are numerous ways to do it. Some of the best ones, which can often be overlooked, are through using a business blog, getting to grips with LinkedIn and making the most of telemarketing.
Every startup has huge aspirations, which will often involve growing the business. But how do you know when it’s the right time to scale? What do you need to do to ensure your growth strategy is a success?