Sources of Financial Advice and Guidance for New Business Start-Up
Unit 3 – Task 1 – Advice and Guidance
I have been thinking of setting up my own business and I need to research the financial resources available to me. My business idea is a sports shop. My vision of my business is to start off small and once I start making a profit I can then open more shops and gradually grow in to a new business. The theme of the business is totally sports and based on football. I will sell branded football wear and for the first 2 weeks customer will get the chance to get free tickets to a match of their choice if they spend £70 or more in store. Customer will be automatically entered in to the draw. I plan on my shop being located in Kirkby town centre and I will advertise locally. I will look at other local sports shops to compare my prices to make sure I am competitive. Because I have no experience in setting up and running my business I will need help and guidance to help set up my business and to sort out the financial side of the business. I will investigate the best 10 place to get advice and guidance from to set up my business and what sorts of advice and guidance each place will get me.
I will need advice to help me decide on the best legal structure, business planning and financial planning, how to set up my business and the sector that I am working in and what is going on in the sector.
These are the main places that could help me to get advice and guidance before I set up my business.
Small Business Service (SBS). This is a government agency that supports businesses like mine that have just set up or people that are thinking about setting up in businesss. You can get information from their website www.smallbusinessservices.org.uk. The webite ends in .org which means that that it has been created by the government so it is a trusted source of information. This agency and the website gives you lots of helpful information about different things like: * Developing your business once you have set it up * Business planning
I have been thinking of setting up my own business and I need to research the financial resources available to me. My business idea is a sports shop. My vision of my business is to start off small and once I start making a profit I can then open more shops and gradually grow in to a new business. The theme of the business is totally sports and based on football. I will sell branded football wear and for the first 2 weeks customer will get the chance to get free tickets to a match of their choice if they spend £70 or more in store. Customer will be automatically entered in to the draw. I plan on my shop being located in Kirkby town centre and I will advertise locally. I will look at other local sports shops to compare my prices to make sure I am competitive. Because I have no experience in setting up and running my business I will need help and guidance to help set up my business and to sort out the financial side of the business. I will investigate the best 10 place to get advice and guidance from to set up my business and what sorts of advice and guidance each place will get me.
I will need advice to help me decide on the best legal structure, business planning and financial planning, how to set up my business and the sector that I am working in and what is going on in the sector.
These are the main places that could help me to get advice and guidance before I set up my business.
Small Business Service (SBS). This is a government agency that supports businesses like mine that have just set up or people that are thinking about setting up in businesss. You can get information from their website www.smallbusinessservices.org.uk. The webite ends in .org which means that that it has been created by the government so it is a trusted source of information. This agency and the website gives you lots of helpful information about different things like: * Developing your business once you have set it up * Business planning