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The views of this article are the perspective of the author and may not be reflective of Confessions of the Professions.
We’re already a month into the New Year and the festive season has packed up for another 11 months or so. Many people may have made some New Year’s resolutions, in an effort to better themselves and have something to aim towards, and while some may have kept their promises, others will undoubtedly have fallen at the first hurdle. If your New Year plans involved starting up your own small business, it’s not too late to make that dream become a reality.
There’s no denying that starting a business from scratch can be a little overwhelming. It may have taken you this past month, or longer, to brainstorm your ideas so that what you go ahead with can achieve fruition. After all, if you’re going to make the big step into the world of owning your own business, you’ll want the best chances of success, and these great tips should certainly help you to get the ball rolling:
Brainstorm Names
You’re going to want something attention-catching and to-the-point. You will want your customers to spot your business amongst a sea of competitors and a great way of grabbing their attention is to have a catchy name. Once your business is a little more established, your success will rely largely on reputation, but in the beginning, it’s all about standing out from the crowd and, with a good name, you can do just that.
Stay Legal
As the owner of a small business, or as a freelance individual, you will need to register as self-employed so that your business stays above board in the eyes of HMRC. Make sure that you register in good time, and organise your contributions to National Insurance and tax. It may be useful to use the services of an accountant, particularly when you’re starting out, so that you don’t miss any steps or legalities.
Insure Your Business
This is essential because, whether you like it or not, anyone can get caught out. Take a look at public liability insurance and any other insurance products that your business can benefit from. The last thing you need is to face prosecution for negligence, accident or injury because, chances are, you won’t have the funds to cover the fees and compensation if the worst came to the worst.
Promote your Services
You may be tempted to start small and build up an intimate client base, but if you can expand a little you will see your business grow exponentially. Take your business online and register a web domain so that you have a platform from which to sell your products and services online, as well as off.
Use social media to your advantage. Set up a Facebook page, a Twitter account and a blog. Advertise your services regularly and network to the max.
It may be a little daunting to take the first steps, but you’ll never know how successful you could be if you don’t take the risk! 2014 may be your year and with some great advice for start-up businesses available, you’ll never be alone in your venture.
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