Essential Information for new businesses

Step 1 – Where do I start?

Do I understand the reality of starting a business?

People consider starting their own businesses for a variety of reasons: bored with their job, recently made redundant, an inheritance, spotting that ‘gap in the market’.  We are not here to tell you what is or is not a good business idea – our role is to provide you with the information and guidance you need to help you make the right decision for you.

What skills would I need?

When starting your business, you should consider what skills you are bringing into that business, what you will have to learn and where you will need to bring in professional advice.

There is no such thing as a typical or perfect business owner and very few will have all of the key skills usually associated with starting a business, but you should consider your levels of confidence with the following

Market Research

In our experience, more start-up businesses fail due to lack of research on their business than through lack of funding.  You will need to research your potential target customers and competitors, premises, pricing, potential suppliers and, depending on the nature of your business, legal aspects. 

EDEAL has over 25 years experience with start-up and pre-start businesses, please contact EDEAL to find out how we can help you. 

Step Two - Business Planning