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Starting your own business

New Year- new you and all of that type of thing. If you have planned to start and new venture or are simply fed up of the 9-5 rat race, then the team at Select Factoring have put together some top tips to start your own business.

Believe it or not, bad times are the perfect arena to set up a business, because you are entering at a time of low and things can only get better, if you do well from setting up a business in a recession, you know that things will be good whatever happens with the economy.

Some people will try to aim for a niche market but some ideas are staring you in the face. You can’t be everything to everyone, but you can hook onto some great simple ideas.

You probably already have the tools you need to start a business. If you are providing a service a laptop and phone are all you need. If you are providing skilled trades, you possibly already have the skills and qualifications, this leads onto the next point.

Funding- Firstly you need to get your name out there in the market, can you rely on word of mouth? Have you created an online profile with a website and social media?

Funding enables you to go and set up all those little points that help raise the profile of the business, from websites to advertising. Funding is key, hopefully you may have some savings that you are willing to plough into your first endeavour. You don’t have to spend thousands on advertising and flashy websites. Those who are savvy will use free sites and social media to raise their profile.

There are also grants and funding available as well as plenty of support from government-run business centre such as Business Link.

Let 2012 be the year of the new business good luck!


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