How to jumpstart your business

By Henry Brown

If you have been thinking about starting your own business, then now might be the time to act. Entrepreneurship and small business are one of the best ways to stimulate an economy and therefore it’s highly supported by both governments and other businesses. It might seem like a tall order to start your business from scratch, and, by all means, it is, but it’s not impossible. With the right attitude, self-belief and persistence, you can make it work, especially if you make use of all the handy support and help that’s out there. Here are some top tips to get your business off the ground.

Find support

First of all, find the right support. You can start a business on your own, most do. A business idea just lives in one’s head for a while, and that’s just fine. But at some point even the most autonomous entrepreneurs will need a sounding board to test the idea. This could be a spouse, a partner or a trusted friend. One of the things you will want to avoid is staying in your own bubble too long.

Make a financial plan

You will need funds to run your business. Be smart and, in most cases, don’t risk it all and definitely don’t put up a second mortgage on the house. Make a sound financial plan with clear go/no-go moments to make smart choices along the way. A strict budget also helps you to be frugal with money and will prevent you from bankrupting yourself personally. If you are bad with finances, see the first point: find support.

Government incentives

On the topic of funds, also consider any grants and governmental help you might be eligible for. As previously stated, entrepreneurship and small businesses are usually seen as a great way to stimulate an economy. There will be plenty of ways the government will help start-ups and small businesses to grow. This could be a grant for businesses. Usually, there will be stipulations, and there is usually a fair bit of paperwork that’s needed to apply. Another way the government helps is by giving tax breaks by allowing small businesses to pay little to no tax for the first few years. Do your research and use all the options that are out there!

The internet

Just Googling business grants can get you quite far. In general, the internet is rife with great resources that help you get your business going. For example, if you are struggling with admin stuff, you can find an invoice template online that will save you the hassle of creating one yourself. Or perhaps you need to promote your business? There are plenty of resources that will teach you how to run search engine or social media advertising.

So there you go, your jumpstart plan for your new business. Find the right support, make an excellent financial plan (or get someone to make one for you), use all the governmental incentives you can find, and use all the resources available on the internet. The only thing stopping you now is figuring out a good brand name!

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Henry Brown is an online marketing executive. When he isn’t talking shop, he’s roaming the streets of London, uncovering the extra-ordinary in the ordinary.

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