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2006 Edition
The No-Nonsense Guideto Starting a Business
•
Test your business idea
•
Consider whether you have got what it takes
•
Find out how to set up
•
Learn how to manage your business properly
 
Welcome
2006Edition
The No-Nonsense Guideto Starting a Business
•
Testyourbusinessidea
•
Considerwhetheryouhavegotwhatittakes
•
Findouthowtosetup
•
Learnhowtomanageyourbusinessproperly
D
id you know there are around our million small frms inthe United Kingdom? They make a major contribution tothe economy, providing jobs or more than 12 million peopleand generating more than hal o the UK’s total turnover eachyear (around £1.1 billion).The start-up acts and fgures are very encouraging. Morethan hal a million people in the UK start their own businesseach year, which amounts to almost 10,000 new entrepreneursevery week.Contrary to popular myth, more than 80 per cent o smallfrms are still in business 12 months ater starting up. Mostbusinesses are established within six months and aroundthree quarters o all new ventures are started rom scratch.The truth is, starting a business isn’t as complex, challengingor costly as some people think.There are many reasons why people decide to work orthemselves. Many believe they will earn more money, whileothers seek to meet a social need, or example, by setting upa Community Interest Company.Some are motivated by an idea they have or a gap in the marketthey have spotted, while some want to turn their hobby into acash-spinner.Many people simply grow tired o working or someone elseand seek the satisaction o calling the shots and overcomingnew challenges.
www.businesslink.gov.uk
 
There are those with amily commitments who are simplylooking or a more avourable work-lie balance. Some areasked to go into business by amily, riends or colleagues,while or others, starting a business is an eective route outo unemployment.This new guide is brought to you by Business Link – thegovernment- unded service which provides the inormation,advice and support you need to start, maintain and grow abusiness.This service is delivered through Business Link advisers inyour area, supported by a single, national award-winningwebsite (www.businesslink.gov.uk) and a national telephoneline (0845 600 9 006).So why should you read this guide and how can it help you?Perhaps you want to fnd out more about what working oryoursel involves. Maybe you have already decided you wantto start your own business, but are unsure whether your ideais viable or i you really have what it takes.You might even have started a business recently and arelooking or some good advice on moving things orward.Starting your own business and managing its developmentcan be an exciting, liberating, challenging and rewardingexperience. Wherever you are up to on your journey, The No-Nonsense Guide to Starting a Business will help you. Readon to fnd out how.
www.businesslink.gov.uk
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