How to start your own business
1. Start with an idea
If you’re thinking of starting
up a business, you’ll first need to come up with a realistic idea that you can
turn into a product or service. There are many supports available including
help with developing business ideas.
You might have already come up
with an idea for a business you think there’s a market for, or invented
something you think people will want to buy. First thing first, register your business to make sure nobody copies it without your permission.
Turn your idea into a business
Research your market - identify potential customers. Talk
to them and find out if your idea is meeting a real need.
Develop and plan - test your product or service with
real customers, make changes, and test it again. Keep doing this until you’re
sure there’s a demand for it.
Find partners and suppliers - think about who you’re going to work
with to develop and sell your idea.
Set up your business - work out which legal structure is
right for you, and whether you want to sell shares.
Get funding -
explore different sources of business finance, from bank loans to
government-backed schemes.
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