Starting your own business

How do you start a business?

You have a good idea - offering a new product or service, filling a gap in the market, something you personally can bring expertise and knowledge to, and hopefully a business idea you are going to be interested and stimulated by.

Starting your own business and being your own boss can bring you the type of lifestyle you have always dreamed of, but you will need self-motivation, drive and belief in your own potential to be a business success.

When you begin your own small business you are going to be dependent on your own ability. By becoming your own boss you lose whatever security you had as an employee and gain the responsibility, but with it comes the freedom and empowerment. Your idea will need to become a profitable reality - find out more by reading our section on writing a business plan.

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Ways Forward

Beginning a business from scratch - The prime advantage is that you are in control of establishing everything from the offset about your new business - from the way it is run, the marketing, the advertising choices, the employees and management.

Buying an established business - You might consider buying a business that's already running. There is also the option of buying a franchise - where you purchase the right to use the trading name and system of an established business.

Have you got what it takes to start your own business?

These are the type of attributes an entrepreneur needs to be a success.

decisive
flexible
self - disciplined
able to set goals - long-range and short-term
willingness to work long hours for little reward
capable of marketing your business and yourself
confidence to take calculated risks

Work from Home

Work at Home Scams - What to watch out for

Business loan - find out more

How do you raise money to start your own small business?

A business start up loan can give you fast access to capital with minimal payments and a flexible repayment plan matched to your finances. Take a minute to enquire now, our lenders have access to thousands of packages and rates and can find the best loan to suit you and your business - there is no obligation and the service is free. We have access to a wide range of lenders and can often help where your bank can't - such as if you need a bad credit business loan.

Top tips for success in business start up

business woman Ms. J runs a gallery and art shop

"I quickly learnt that the most important thing is that your business needs to be customer-orientated - I mean without them you haven't got a business!
The customers' needs have to be regularly evaluated - ask yourself, are they satisfied with the quality and price of the product and/or the service they received, and most importantly are they likely to return for more and recommend you to others?

To be successful I need to meet the demands of my customers. This means being flexible and ready to change things if necessary, such as the items I sell and the service I offer - the customer is always right!"

Find out more about women in business

business loan phone help Mr. T owns a garden centre

" I think its vital to keep the loyalty of your existing customers, rather than totally focusing on attracting new ones.
For my kind of business and many others, I rely on my customers returning regularly. I try to keep in touch by a quarterly newsletter, and I try to reward loyalty with a money off voucher or free gift, especially at times when I want to attract my customer base in, i.e. Springtime for bedding plants,etc. I also inform past customers of any new products I'm stocking.

Happy customers will be loyal customers and will bring their friends with them if you treat them well."

Find your repayments with our business loan calculator

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