Think you have a great idea for starting a new business? Need to check if your idea is feasible? Then the best way to find out whether your idea is viable or not is to research and write up a proper business plan to attract potential investors. And the only way to do so is to follow the right, simple, …
If you are writing your business plan then you need to understand this. 90% of what you are writing will not be read. I am not saying you are wasting your time writing a detailed business plan. I am saying you are not focussing enough of your time on the section of your business plan that most investors and institutions …
When starting a business many entrepreneurs spend a lot of time on choosing the legal status of their business. On occasions, a business may need to change its legal status due to a change in the business or restructure. Which legal status you choose for your business depends on the type and size of the business. Let’s find out what …
The Prince’s Trust is a youth charity that helps young people aged 11 to 30. They are one of the most prominent organisations helping young people to start their own business and move into self-employment. The primary way they do this is through their enterprise programme, a training course that provides you with all the knowledge and skills to run …
Over the past few years, entrepreneurs and student entrepreneurs visa applications have been of low quality in terms of innovation and job creation for the UK economy. The vast majority of the businesses that went through the scheme were small scale retail, fitness and hospitality ventures. To combat this, the new Innovator and Start-up visa programs opened on the 29th …
Knowing the reasons why your customers buy your product or service is the key to sales success. When you know what their fears, problems and challenges are it gives you the ability to tailor your sales process to provide them with what they want and alleviate any concerns they objections they have. I in a previous blog post, How To …
No matter how great your product or service is if you don’t have customers you don’t have a sustainable business. Also, you may have the ability to come up with a great new product or business, but that doesn’t automatically mean you can successfully sell it to customers. Many startups struggle at first to find customers and generate revenue. Depending …
GDP growth has been forecasted to remain subdued in 2019 as Brexit-related uncertainty, global trade tensions and higher interest rates weigh on the economy. Basically for most small business owners trading conditions will be uncertain for at least the next few months. The only realistic chance of an upturn in optimism over the next 18 months is if there is …
Employees are the most critical part of any business, you can have the best product or service in the world, but if you don’t have the right people, you will never be able to grow your business. Understanding how to recruit and retain the best staff is a skill that every new business owner should possess. Without high calibre, motivated …
The cash flow statement is one of the sections of a business plan that people tend to experience the most difficulty with. Preparing a cash flow shouldn’t be that difficult as long as you follow a few simple steps. If you are applying for a startup loan The Cash Flow Statement will be the only financial statement you will have …
