Regeneration Aiding New Startups


The stormy weather and in particular the floods caused all sorts of expensive damages and wreaked havoc amongst small communities where local residents rely on tourism for the income. However it is not all doom and gloom as the government offered up a pot of £2 million to help refurbish and renovate the worst hit areas promising bespoke advertising campaigns to ignite interest in the area and help regenerate the businesses.

And if you are thinking of setting up a new business, during a time of regeneration is the perfect opportunity. So if you’re considering a new start up then read on for some top tips on making those first few steps.

Clear and Concise

Before you start making any physical or practical arrangements you first need to be totally clear in your own mind as to exactly what it is that you are trying to set up. The best way to achieve a concise explanation that can be rolled out to potential funders, partners and clients is by creating a thorough business plan with clear aims and objectives that outline short and long term goals.

Practicalities

Next consider the practicalities of your business to ensure that it is in fact a feasible opportunity and that you are covered in the event of any unforeseen circumstances. Thinks to consider include business banking which is generally seen as a separate strand of banking to personal banking and as such will need separate research. Don’t just go with your existing bank because they are good with your personal accounts, shop around for the best deals and most appropriate type of banking for your business.

Don’t discount the importance of the different types of insurance you may need as a business such as property and contents, vehicle and life insurance as well as public liability, professional indemnity and employers insurance. If you are unsure about what your insurance needs are then talk to the experts. UK InsuranceNet can give you a number of quotes based on different packages and will ensure that you are covered.

Determination

Next comes the hardest bit, after the research is done, the funds are in place and the business plan is set out comes the grin and bear it bit where you simply have to get stuck in. Often this is the point where people leave their current employment to jump in feet first to entrepreneurship.

This phase generally takes a few months of hard work, stress and little income as everything is put into place. However, stay focused, draw on any support that you are offered and stick at it for soon you will be the proud owner of a flourishing new start up business.