No matter how good the product or service being offered, the success of a business often comes down to its structure, cash flow, funds, staff and marketing. Here’s a checklist of things you need to do once you have decided to take the plunge to join Britain’s burgeoning ranks of entrepreneurs.

1 Seek help


Even well established businesses find it helps to have a sounding board for new ideas so don’t be afraid to seek out advice or support or to find out how others have solved or are managing similar challenges,http://www.kiteaway.co.il/forums/viewtopic.php?f=5&t=90307cheapjordanshoesfreeshipping.com/bolg,cheap jordans free shipping. The Business Growth Service is just one such organisation with a wealth of information and guidance for those starting out.

2 The structure


The options to choose from are a limited company, a limited liability partnership (LLP), a traditional partnership or a sole trader. The first two offer greater personal protection but there is no right option – it will depend on your circumstances and particular needs,cheap jordans for sale, so do some research in order to see what will work best for you.

3 Image


First get the right name. Companies House will show which ones have been taken. There are websites that will generate suggestions based on keywords and which also show which URLs are free. The URL is important,cheap real jordans, because it will be used throughout your marketing, including online, on email and in social media. In tandem you need to explore the logo and brand. But for that you’ll need some creative inspiration.

4 The market


Image is an important part of any marketing activity, but you first need to establish your market. Test the idea and test the market. You first need to define your boundaries and start to write the business plan. This will be essential if you are seeking funding and to keep you on track with your plans for growth.

5 Money


This all costs money and there are many issues to consider when it comes to funding,cheap authentic jordans,http://www.empirejunkies.com/New-thread.htmlcheapjordanshoesfreeshipping.com/bolg, such as how much equity you want, and whether you will offer your own personal assets as security. There are funding options such as grants, loans, banks,cheap air jordans, investors and crowdfunding. Consider which is right for your business in its current stage of growth.

6 Cash flow


Key for every small business is cash flow. That’s where good credit lines come in. If you are buying in goods or services before selling on, it’s helpful if you can delay paying your suppliers until you have been paid.

7 Money management


You will need to find an accountant or at the very least a bookkeeper (which is often cheaper) and open a business bank account. But don’t abdicate responsibility. You will need to keep a firm handle on the finances and have a pretty good idea of what your revenues,cheap wholesale jordans, margins and gross profits should be, especially if you are looking for investment.

8 Premises


Working from the spare room is limiting. Should you buy or lease? What about insurance and business rates? Think about what works for you now, but also what premises you may need in the short and longer term as you grow.

9 The IT


Hardware, software and security… yes,http://www.blacmera.com/node/364335/webform/componentscheapjordanshoesfreeshipping.com/bolg, security. Don’t scrimp on keeping your data secure or it could turn out to be a very costly error.

10 Other bureaucratic hurdles


Will you be employing staff (then there will be NI and pension issues to consider)? Do you need to protect your IP or designs with patents? Are export/import licences required? Use your business plan to help scrutinise all areas that may be exposed to legal, regulatory, tax or other requirements.


To hear from some inspiring small businesses, visit tgr.ph/amex


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