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Tips for UK Small Businesses to Get Up and Running Quickly

Starting a small business in the UK can feel like an overwhelming task. With so many steps to take and decisions to make, it’s easy to feel like you’re in over your head. And with almost 60% of UK small businesses failing in the first year, giving yourself the best chance of success is vital to your new venture’s longevity. So take a deep breath, and let’s get started! With the right plan and guidance, you can get your small business up and running quickly. From understanding the legal aspect of starting a business to determining your target market, these tips will provide the foundation to ensure your small business is set up for success.

Have the right legal advice before you start trading

Before you even begin to think about setting up your small business, you’ll need to make sure you have the right legal advice. Make sure to speak with a business solicitor who can guide you through everything you need to know before getting your business off the ground. Your business solicitor will be able to advise you on a wide range of issues, including; What business structure may be best for you, including sole trader, partnership, or limited company.

The legal structure you choose will impact your company’s tax liability, insurance requirements, and responsibilities in the event of a lawsuit. How to set up an appropriate business structure, including accounting, insurance, and financial requirements. Whether your business idea is feasible from a legal perspective, for example, if you want to sell products, you’ll need to find out about intellectual property law and any restrictions you may need to follow.

Identify your target market

It might seem like a no-brainer, but before you get too far into setting up your small business, you’ll want to ensure you know your target market. Is your small business geared toward children? Young adults? Or are you aiming for middle-aged professionals? Once you’ve determined your target market, you’ll be able to shape your small business to fit your customers’ needs. That way, you can ensure that your product or service is relevant and that you’re marketing your product to the right people.

Create consistent branding

Once you have identified your target market, you can create consistent branding for your company. Your branding is your identity, including your logo, colour scheme, and general tone. You want your branding to reflect the type of company you are. That way, your customers will be able to identify your products or services as soon as they see them. To get started:

  1. Make a list of adjectives that you would like your brand to encompass.
  2. Think about how you want your products and services to be perceived.
  3. Think about your core values and how your customers should feel when they come into contact with your products or services.

Using this information, create a brand board where you can collect the images, colours, and logos that reflect the type of company you want to be.

Market your company before you open the doors

You’ve identified your target market, created consistent branding, and you’ve even got your business name picked out. But don’t just sit back and wait for customers to knock on your door. Market your company before you open the doors. Get your foot in the door by networking. Attend events where your potential customers would be, and start building relationships. Use social media, build a website, implement an SEO strategy, and get the word out, so people are prepared, and waiting for you to open your doors, so to speak. Generating viable interest and connections before opening will boost you and help you hit the ground running.

Plan a launch day

Once your product or service is ready to go, you’ll want to plan a launch day. Your launch day is your big moment, where you officially open your doors to customers. It’s a great way to make a splash and to really drive home that you’re opening for business. But what should you do on your launch day? This depends on the type of business you are opening. If you are opening a retail store or leisure business, for example, hosting an open day with activities, free food and drinks, or even having local celebrities drop by can be a great idea. A fun day using custom inflatables can help you decorate the event, and inviting other local businesses to supply food and drinks can be a great way to meet other business owners and support local businesses from day one. Plus, you can also take advantage of their customer base if they advertise their attendance on your launch day.

Network

As with any industry, networking is essential to growing your business. Take time to engage with your industry and build relationships with people who are at various stages of starting and growing their businesses. This can include attending industry events and conferences or joining associations or industry groups. Engaging with people in your industry can lead to new partnerships or opportunities for collaboration and provide you with a support network to rely on if you need help or have questions. This can help make you feel less alone as a business owner while also providing an opportunity to learn from others on how they succeeded or stumbled along their path.

Get a business mentor

Starting a business can feel like a huge challenge, and sometimes you feel unsure about what you’re doing. Get a business mentor to ensure you have the support you need to get through the tough times. A business mentor can walk you through the process of getting your small business up and running, and they can provide you with feedback and advice as you navigate the challenging process. There are several ways to find a business mentor, including signing up for a mentorship programme or reaching out to someone in your network that may be willing to mentor you. A business mentor will be able to walk you through the process of getting your small business up and running efficiently, and they’ll be there to support you along the way.

Conclusion

Starting a small business can be an exciting and rewarding experience. However, it’s important to remember that starting a business is a long and challenging process. You’ll need to make sure you have the correct legal advice before you start trading and that you understand your obligations, liabilities, and risks. You also want to make sure you have consistent branding, market your company before you open the doors, and network to find mentors who can provide advice and help you to navigate the business world.

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