Welcome to Bytestart’s Start-Up Guide, 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’ businesses. There are small firms working in every single industry sectors across the entire country.
Of the 5 million+ enterprises active in the UK, just over 3.5 million are sole traders, around 450,000 are partnerships, and 1.3 million 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. Determination and tenacity will be required for certain.
You’ll also need to be prepared to work hard, organise your time effectively, and bounce back from the inevitable knocks you will get along the way.
Helping you avoid the most common business start-up mistakes
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 pitfalls that frequently catch out those starting a business for the first time. Theses common mistakes include failing to research the market in enough detail, and not keeping on top of cash flow.
We’ve kept this 22-part guide as compact as possible. Rather than going into great detail on each topic, we’ve provided links to more in-depth guides you can find elsewhere on ByteStart.
Best of luck with your new business idea!