Originally written by Timothy Adler on Small Business
One in five UK adults say they want to start a business in 2021.
That figure rises to over one third (34 per cent) of 18 to 34-year-olds.
And one in 10 of those surveyed said they already were already actively planning for their start-up this year.
Even more excitingly, only 6 per cent said it was because they had become unemployed, rising to 8 per cent because of furlough. More than one third (37 per cent) said it was because they had always wanted to start a business.
>See also: Checklist for going self-employed – a Small Business guide
More than half of those expecting to start their new business sometime in 2021 say they see it as being as a side-hustle.
As for what kind of start-up people want to launch, health and wellbeing was the top category (11 per cent) followed by manufacturing (10 per cent), tech (10 per cent) and business services (10 per cent)
However, manufacturing was the overwhelming number one category in the industrial West Midlands, which was the area where people were most likely to go into business for themselves.
But 12 per cent of all those surveyed said they needed more information and
Tag Archive for Start a New Business
Hot Business News Today
Free start-up checklist
by Timothy Adler • • 0 Comments
Originally written by Timothy Adler on Small Business
With redundancies expected to soar when businesses eventually emerge from lockdown and those on furlough lose their jobs, many of us are thinking of going into business for ourselves.
Last year saw a record number of companies created, with an extra 84,758 businesses setting up in 2020 compared with 2019.
Indeed the number of firms incorporated in Britain during the four weeks to mid-December was over one third higher than during the same period last year.
The year-on-year growth rate for new company registrations has been in double digits since June 2019.
If you have worked for an employer all your life, the idea of setting up on your own can seem daunting. Here is a free start-up checklist to take you through every step of creating your own business.
#1 – What’s your business idea?
First, you need to have a great business idea.
British entrepreneurs have always been good on capitalising on the emerging business trends that could boom in the near future and beyond.
What’s the problem that you’re addressing?
How can you help solve it?
What is the need in your local area?
Who is the competition?
How big is the potential market?
Ground-breaking digital business ideas have found their beginnings in
Hot Business News Today
One in five Brits say they want to start a business in 2021
by Timothy Adler • • 0 Comments
Originally written by Timothy Adler on Small Business
One in five UK adults say they want to start a business in 2021.
That figure rises to over one third (34 per cent) of 18 to 34-year-olds.
And one in 10 of those surveyed said they already were already actively planning for their start-up this year.
Even more excitingly, only 6 per cent said it was because they had become unemployed, rising to 8 per cent because of furlough. More than one third (37 per cent) said it was because they had always wanted to start a business.
>See also: Checklist for going self-employed – a Small Business guide
More than half of those expecting to start their new business sometime in 2021 say they see it as being as a side-hustle.
As for what kind of start-up people want to launch, health and wellbeing was the top category (11 per cent) followed by manufacturing (10 per cent), tech (10 per cent) and business services (10 per cent)
However, manufacturing was the overwhelming number one category in the industrial West Midlands, which was the area where people were most likely to go into business for themselves.
But 12 per cent of all those surveyed said they needed more information and
Hot Business News Today
Free start-up checklist
by Timothy Adler • • 0 Comments
Originally written by Timothy Adler on Small Business
With redundancies expected to soar when businesses eventually emerge from lockdown and those on furlough lose their jobs, many of us are thinking of going into business for ourselves.
Last year saw a record number of companies created, with an extra 84,758 businesses setting up in 2020 compared with 2019.
Indeed the number of firms incorporated in Britain during the four weeks to mid-December was over one third higher than during the same period last year.
The year-on-year growth rate for new company registrations has been in double digits since June 2019.
If you have worked for an employer all your life, the idea of setting up on your own can seem daunting. Here is a free start-up checklist to take you through every step of creating your own business.
#1 – What’s your business idea?
First, you need to have a great business idea.
British entrepreneurs have always been good on capitalising on the emerging business trends that could boom in the near future and beyond.
What’s the problem that you’re addressing?
How can you help solve it?
What is the need in your local area?
Who is the competition?
How big is the potential market?
Ground-breaking digital business ideas have found their beginnings in
Hot Business News Today
Buying a company name before starting up
by seantoomer • • 0 Comments
Originally written by seantoomer on Small Business
Buying a great company name isn’t everything but when it comes to the success of your business make no mistake, it counts for a lot
It will be the way customers find and identify you, so if you have a great name in mind it’s worth protecting it – even if you aren’t ready to start trading yet.
You might think of buying a company name, but really what you’ll be doing is creating a dormant company – that is a company which is legally registered with Companies House, but doesn’t trade or have any business transactions. As long as you maintain it, no one else can set up a company in your space or sector with the same name.
This is a well-established and accepted practice, but it does come with certain annual responsibilities, and there are definitely a few pitfalls to avoid when buying a company name. So here’s a handy guide to steer you through and make sure the process is smooth sailing.
>See also: How to choose the perfect name for your business
Creating a dormant company
In short, what you need to do to keep a company name for yourself is to incorporate a limited
Hot Business News Today
How to start a new business if Covid makes you redundant
by Steve Taklalsingh • • 0 Comments
Originally written by Steve Taklalsingh on Small Business
10-step guide to start a new business
Many people have gone through redundancy this year. More are likely to do so because of Covid. If you are one of them, after recovering from the initial shock, you are probably re-evaluating your life and career. Despite economic uncertainty this is proving to be a popular time to start a new business. But if this is the moment you head out on your own, where do you start and what do you need to know?
#1 – Have a good idea
Successful businesses are not successful because someone had a ground-breaking idea or invention. They’re successful because the business owner implemented the idea effectively. Having said that, you do need to really think about your business idea.
What is the problem you are trying to solve in the market?
Who is the competition?
Is there space in the market for you or is the marketplace saturated?
What do you bring to the table that others don’t?
How are you going to attract customers?
Do your research; it will be the most valuable time you’ll spend on your business.
>See also: 5 best ideas to start a small business post coronavirus
#2 – Check your status
You must
Hot Business News Today
How to start a new business if Covid makes you redundant
by Steve Taklalsingh • • 0 Comments
Originally written by Steve Taklalsingh on Small Business
10-step guide to start a new business
Many people have gone through redundancy this year. More are likely to do so because of Covid. If you are one of them, after recovering from the initial shock, you are probably re-evaluating your life and career. Despite economic uncertainty this is proving to be a popular time to start a new business. But if this is the moment you head out on your own, where do you start and what do you need to know?
#1 – Have a good idea
Successful businesses are not successful because someone had a ground-breaking idea or invention. They’re successful because the business owner implemented the idea effectively. Having said that, you do need to really think about your business idea.
What is the problem you are trying to solve in the market?
Who is the competition?
Is there space in the market for you or is the marketplace saturated?
What do you bring to the table that others don’t?
How are you going to attract customers?
Do your research; it will be the most valuable time you’ll spend on your business.
>See also: 5 best ideas to start a small business post coronavirus
#2 – Check your status
You must
Hot Business News Today
5 best ideas to start a small business post coronavirus
by Timothy Adler • • 0 Comments
Originally written by Timothy Adler on Small Business
As the country emerges out of lockdown, and the Coronavirus Job Retention Scheme dries up, many experts are afraid that hundreds of thousands of workers may find themselves made redundant post furlough. The Bank of England expects unemployment to jump from 4 per cent to 9 per cent between April and June 2020, the highest rate since 1994. And that is before the government’s emergency furlough scheme is switched off at the end of October, when even more workers may find themselves unemployed.
Given that so many are braced for redundancy, surely it makes sense to start thinking about your new life now.
And for many, that means pivoting to working for themselves for the first time and starting a new business.
However, the world has changed since it went into lockdown, accelerating many of the trends which were predicted to happen over the next five years: increased working from home, air travel once again becoming a luxury due to environmental concerns, shopping local, streaming overtaking cinema, boosting the green economy, etc.
And many of these trends are not going away.
5 best small business ideas post coronavirus
So, here are five of the best low-cost ideas to start
Hot Business News Today
How I started my business – The Little Black & White Book Project
by Partner Content • • 0 Comments
Originally written by Partner Content on Small Business
Ruth Bradford, 38, launched The Little Black & White Book Project, a collection of black-and-white picture books teaching infants about animals and nature, in March 2018, having spent six years in Southeast Asia.
Pregnant with her son while living in Singapore and learning about the benefits of black-and-white images for newborn visual development, she was underwhelmed by the small selection on offer at the time. She decided to create her own. Bradford credits The Little Black & White Book Project really taking off when she created a website and sold directly to new parents.
Bradford started with three board books and one set of flash cards reflecting the places she had visited – safari in Africa, the rainforests of Southeast Asia and the Australian bush. Within nine months of launch she had won Enterprise Nation Female Start-up of the Year and been invited to 10 Downing Street.
Bradford says The Little Black & White Book Project is on track to triple her revenue in 2020-21 with 25 wholesale clients, as well as selling to five online marketplaces, obtaining national distribution, as well as direct sales via her website and social channels.
Still a one-woman-band,
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How I started my business – Zaffrin O’Sullivan, Five Dot Botanics
by Partner Content • • 0 Comments
Originally written by Partner Content on Small Business
Zaffrin O’Sullivan, 41, first had the idea for Five Dot Botanics back in 2017. She wondered why the packaging for skincare products listed impenetrable ingredients at a time when consumers were demanding ingredient transparency in food and cleaning products.
O’Sullivan found a cosmetic scientist and spent two years developing her products along with designing the brand and a website alongside her day job working in television. The idea was to create a range of skincare products with only five easily understandable ingredients each. Five Dot had its first manufacturing run in the spring of 2019 and launched direct to consumer last July. The brand is already stocked in health food chain Holland & Barrett.
Five Dot raised funding from start-up seed investment fund Worth Capital, managed by Amersham Investment Management, and plans to enter another fundraising round later this year.
Only this week, O’Sullivan won a place on the coveted Sephora Accelerate 2020 programme and she plans to spend time in the US and Paris developing her brand for international distribution.
O’Sullivan still runs Five Dot Botanics as a side-hustle, as she still works in TV as a lawyer. And, if that’s not enough,