Welcome to Bytestart’s complete guide to starting up in business, which features bite-sized guides on each aspect of the start-up process, from choosing your business name to setting up your first website.
It may surprise you to find out that the majority of people in the UK are actually employed by ‘small’ enterprises. There are small businesses working in every single industry sectors in the country.
Of the 5 million enterprises active in the UK during 2010, just over 3.5m are sole traderships, around 450,000 are partnerships, and 1.3m are private limited companies.
Alongside the practical steps you need to follow when setting up your business, there are a number of character traits you will need to possess to ensure your success when you take the plunge on your own, such as determination and tenacity.
You’ll also need to be prepared to work hard, organise your time effectively, and bounce back from the inevitable knocks you may face along the way.
Of course, there are no guarantees that your new business venture will be a success, but the aim of this guide is to help minimise the chances of things going wrong when you start up on your own.
We will outline the most common pitfalls people face when they go it alone. The most common mistakes people make are failing to adequately research their market in enough detail, and not keeping on top of cashflow.
We’ve kept this 22-part guide as compact as possible, so rather than going into detail on each topic, we’ve provided links to more in-depth guides which you can find elsewhere on the Bytestart site.
Best of luck with your new business idea!
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