Starting a business can be a complicated path to navigate, one which is rife with hurdles that need overcoming if prosperity is to be achieved. One of the biggest challenges that could see your business fall even before it’s got started is finance. It’s widely known that setting up your own business isn’t cheap, so here’s a few tips on how to start your business on a shoestring.
One of the biggest expenditures when setting up a business can be with the premises, so working from home is the logical step in saving some vital money. If this isn’t possible due to the nature of your business, then look around as there are alternatives, but just remember that the further away from town you are, the cheaper it’s likely to be.
Staffing costs are another way to drain money out of a young business, so when you’re starting out, utilising the services of your friends and family can go a long way to saving you some vital dosh – but be prepared to pay them back with a few beers.
Create a simple business plan that has your milestones set and doesn’t require investors. This will save you vital time as you don’t have to search for the investment you might not need, and what’s more, it keeps your ownership at 100%.
Making use of social media and free websites for your marketing could be the difference between a hit and a flop. Social media has revolutionised the way small businesses reach their customers, and it’ll do the same for business, too.
Visit business exhibitions, such as the Business Startup show. Here you can find all the advice, support, and education you need to start your business, as well as phenomenal networking opportunities. And what’s more – it’s absolutely free.
For more information on the Business Startup show, visit www.bstartup.com.