London Business Startup

London Business Startup

Are you a​ budding entrepreneur with a​ great invention that you think will be next year’s top seller? Have you got an​ idea for a​ great new business but no funds to​ start you up? Do you want to​ start a​ business up but don’t know where to​ start? if​ the​ answer is​ yes to​ any of​ these questions then there are some important things to​ think about and people and companies that can help you.

First things to​ think about are whether there is​ a​ demand for your product or​ services. the​ way to​ find this out is​ to​ do some research. Have a​ look and see if​ there are any other companies offering the​ same service or​ products. if​ you are offering a​ service that is​ local,​ then you need to​ see what competitors you have and how you can go about becoming more successful than the​ already established businesses. if​ your area of​ business is​ highly competitive then you will need a​ good business plan to​ make your business more desirable to​ possible clients and more competitive. it​ might be worth talking to​ some businesses that have experience within your subject area. it​ would be wise to​ listen to​ them as​ they should offer good advice.

Finance is​ another big issue. Have you got the​ finance needed? All businesses that are starting up need an​ injection of​ cash. You could get your self a​ loan,​ but loan companies can be sharks and you have to​ be careful. There are companies that offer loans for startup businesses which have a​ smaller interest rate which might be more appropriate.

There are other issues like Tax,​ National Insurance and VAT. it​ can all get a​ bit confusing and stressful. if​ you’re new to​ business then all of​ these aspects could be rather overwhelming. So what can you do? You could research into all these areas,​ spend hours on​ the​ phone talking to​ different organizations or​ you could get in​ touch with a​ company that specialise in​ helping businesses to​ start up. Business angels or​ business consultants are probably the​ best way to​ get all the​ help you need. a​ good company will offer you good advice and set you off in​ the​ right direction. Many companies have investors and people with a​ lot of​ money that might be willing to​ invest in​ your company.

Going it​ alone is​ wrong. a​ friend of​ mine went to​ university and in​ her final year invented a​ unique product. She won a​ number of​ awards,​ and was tipped to​ being a​ millionaire. She went on​ a​ number of​ television shows and the​ local press interviewed her and it​ all looked very prosperous. She borrowed thousands of​ pounds and set her business up ready to​ concur the​ world. Unfortunately within 3 years the​ business failed and she went bankrupt. Had she followed advice from professionals and involved a​ business angel which could have helped her create a​ realistic business plan and strategy she may well have been the​ millionaire that was expected.

So my advice is​ simple,​ get professional advice,​ listen and believe what they are telling you. Use a​ business angel or​ professional organization which will cover every aspect of​ starting a​ small business up.

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