Everybody understands that starting up a business from scratch is not a simple process or an easy challenge to take on. Regardless of how lofty your ambitions are or whether you’re aiming to establish yourself as a sole trader or as a the boss of a burgeoning new enterprise, finding access to initial and early-stage sources of finance is a vitally important step along the way towards sustainability and success.
Here’s a look at some of the most commonplace and most viable routes to finance currently available to startup businesses. (more…)
Every start-up company needs a good business plan and an effective business strategy. They’re distinct but equally necessary and you shouldn’t confuse one with the other.
You can’t expect to get past first base without a plan. A clear, well-written explanation of what you intend to sell and when you intend to sell it, is the document you will take to your bank manager if you want to get a business loan and to investors if you’re seeking financial backing. (more…)
Starting up and growing your own business can be extremely exciting and exhilarating, but it can also at times be quite lonely and overwhelming, particularly if you don’t have a business partner to share the experience with.
When you are sitting alone at your desk it can be hard to know where to turn for advice and support.
The good news is there is fantastic solution to this. That is to create your own support team that you can call on whenever you need to for help and advice, and even sometimes simply for encouragement and motivation and a friendly chat.
Here’s how to do it: (more…)
New research by APS financial, the most proven digital UK challenger to banks, reveals what’s stopping UK mums from starting their own business.
With nearly half of UK mums saying they admire entrepreneurial businesswomen like Michelle Mone, Karren Brady and Liz Earle, the study unveils the barriers Mumpreneurs believe are stopping them from becoming the next ‘Baroness Bra’.
Every year, hundreds of thousands of entrepreneurs make the huge leap from working for somebody else to running their own business.
Launching your own venture is a leap into the unknown, and many new business owners discover that much of what they thought was true about starting their own business, turns out to be completely false.
There are many common misconceptions about running your own business, and being caught out by some of these can prove very costly indeed. To help you separate truth from fiction, here are 8 common myths about starting and running your own business;
There is so much that a small business owner, or potential entrepreneur, can do with just a shift in how we think, and what we focus on.
When you start to look back at what you have achieved and where you are in your life, work and business, you would begin to realise that success is heavily dependent on your attitude.
Most people who are successful started out just like you – and then they kept their strength and determination, they persevered through the tough times and now we look up to them as successful business people.
The good part is that you can make it too and even achieve much more than them. The magic is upgrading the software your mind has been running on with a new, better and bug-free version!
Here, serial entrepreneur, Taimur Khan, tells ByteStart how a positive mind-set can help you succeed with your start-up; (more…)
Human history provides countless examples of leadership be it in the political, economic or military sphere. But no two leaders are alike and some leaders have left a far more distinctive mark on history than others.
To lead other people you need to be able to communicate clearly. Indeed, many successful leaders such as Winston Churchill have been able to inspire others through the power of the spoken word.
But inspiration also requires another ingredient besides communication. It requires a vision.
Writing a business plan is an important step in the business start-up process. And, if you want to raise funding for your new business, you simply must produce an up-to-date business plan to show potential backers.
Even if you don’t place much importance on the business planning process, the simple act of writing down your thoughts can help focus your mind on aspects of the business which you may otherwise have neglected.
So to get you started on the right path, here are 10 business planning tips to help you produce an effective plan; (more…)
When we are starting up and running our own business there are extraordinary demands on our time. We need to spend time on getting our product right, finding customers, seeking finance, managing staff and dealing with the latest legislation, such as the new auto-enrolment pension laws.
With the sheer range of tasks and every day duties to tackle, we can all find that our business goals can get lost in the frenzy and the frustration of not meeting our aims can get us down.
To achieve long-term success we need stay focused on our goals. And to achieve those goals, we need to keep quite a degree of discipline to ensure that our time doesn’t get sucked away and evaporate like a puddle on a sunny day.
Starting a new business is an exciting time but getting the administrative side of things set up can be quite a time-consuming process. However, if these initial tasks are completed in a thorough and efficient manner, things are more likely to run smoothly and you can focus on the more exciting aspects of running your own business.
There are a number of different legal matters which need to be addressed before setting up a new business. Seeking good advice to help you through the planning and setup process ensures your business is built on solid foundations andcan provide protection when things do not go to plan.
Being prepared for any legal issues that could occur and having a good understanding of business law is essential when setting up a new company; lacking both could lead to a make or break situation. This guide is here to help you get your business off to a flying start and make sure you are both prepared and protected for what the future holds. (more…)
While many business start-ups focus on trying to come up with a single ‘killer’ business idea and attempting to raise funding for their grand vision, this is the wrong approach according to the author of ‘The Millionaire Dropout’, Vince Stanzione.
Here’s why Vince thinks you should forget about the big business idea and just get on with starting your small business;
As technological advances and work practices enable it, more and more small business owners are deciding to work from home.
Dedicated business premises can also be a big outlay for a cash-strapped startup and coupled with the long-term contracts often required, it’s not surprising so many startups are choosing to start their new business from home.
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.