Heather Martin's - Biz Bytes - New year, new beginnings

Am I too late to wish you all a Happy and Prosperous New Year? With no obvious song title on which to hinge this month’s article, let’s get straight down to business.

A brand new year has started with each day bringing with it great possibilities. That’s hundreds or thousands of possibilities for you, your business, or more specifically and for the purposes of this article, your new business idea. This really struck a chord for me, since for as long as I can remember I have always welcomed change, be it a change of scenery, job, car, or boyfriend (in my youth). Change always left me excited, revitalised and ready to embrace all that it offered. For many it would seem a new year means a new job or career direction. Maybe this is why in January there are more new businesses registered than just about any other month of the year!

So if you or anyone you know is thinking of starting their own business this year, let me share with you  some of the latest interesting statistics. You maybe surprised to learn that:

  • 500,000 new businesses were created in the UK last year, with 3,570 of those in Buckinghamshire
  • There are 4.9 million small businesses in the UK
  • Small business make up 99% of the UK private sector
  • Small business generate one-third of private sector turnover in the UK
  • 20% of small businesses have serious growth ambitions
  • Small business contribute around £311 billion of GVA in the UK private sector.

Of course, with the internet and all of the readily available resources online,  it has never been easier to set up a business.  Are the challenges of operating it profitably any easier to resolve though? 

The future success of any business will depend on things such as a good idea/product, finance, attracting enough sales, a good understanding of and access to robust accounting systems. These  will all help the future sustainability of a business, and so will access to the plethora of support and practical assistance out there designed to support you in your business aspirations.

A good place to start could be the Buckinghamshire Business First Start Up resources on our website. For more general information you can visit the Business is Great website at www.greatbusiness.gov.uk.

At Buckinghamshire Business First we are passionate about helping Start Up businesses and recently introduced Start Up membership to those individuals interested in exploring this option. If this applies to you, or anyone you know please forward this article to them. Also,  if you have a service that you think may be of interest to a Start Up  why not add a Start up member-to-member offer on our website or attend our forthcoming Start Up Networking event.

Although I work full-time at BBF, I am also a small business owner myself so I really understand the challenges and opportunities that it can present . Remember you are not alone though – as the figures above demonstrate, you are part of a community of 4.9 million and there really is support out there - set up to help you succeed.

Finally, and just for fun, I Googled  the words “New Year Songs” - and my Dad would be proud since I can finish this article off quite legitimately by using the wise words of old blue eyes himself, the late great Frank Sinatra, when he sang “Let’s Start the New Year Right”.

If you have an aspect of business that you are struggling with, please do give us a call on 01494 568941.

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