smallbusiness.co.uk: Helping your business think big

Cancel Christmas?

Some of you are probably wondering whether you should cancel...
Have your say »

RSS

Start-ups must 'really understand' realities of business

Jun 05 2008

Email a friend

People considering building up their own businesses need to remember that 'it is a risk', according to the Federation of Small Businesses (FSB).

A spokesperson for the FSB explains that often the desire to be one's own boss can 'blind people' to the realities of the challenges which may lie ahead.

'You have to make sure that you really understand what you're getting into before you do it, no matter how enthusiastic you might be or how much you might want to be your own boss,' he comments.

Being an entrepreneur is a 'lifestyle choice', he adds.

Research by Barclay's Bank has shown that more people are starting businesses than ever before.

In 2007, people began more firms than in any period since their records began in 1988.

The North East and the West Midlands saw the biggest increase - a rise of 11 per cent in the number of start-ups.

Comments

There are currently no comments on this article

Prize Draw

Smallbusiness.co.uk has teamed up with Avery® Quick&Clean™ Business Cards to offer five lucky readers the chance to win a copy of BBC Dragons' Den James Caan's new book The Real Deal and a pack of Avery® premium heavyweight business cards. To enter the prize draw, simply answer our question here

Polls

Latest News

UK needs to help start-ups

The country needs to work collectively to help people with good ideas to start up their own business.

Government launches £25 million business fund

The government has launched a £25 million fund to aid women in business, aimed at high-growth companies.

£1m for Scottish start-ups

A £1 million fund has been launched for Scottish entrepreneurs to help them set up firms with a social or environmental purpose.

Going green 'can save money'

Businesses can save money by employing greener methods, but it requires some investment upfront which may put firms off.

Pre-budget tax cut calls

Tax cuts announced in the pre-budget report on Monday will be targeted to benefit SMEs, says accountancy firm Deloitte.

Bosses should help fight staff obesity

Employers should help staff battle obesity with healthy eating options, as it will lead to a more productive workforce.

Small firms 'must be in pre-Budget report'

The pre-Budget report must give companies 'innovative and short-term' solutions for finance such as a £1 billion small business survival fund, an organisation has warned.

Government to loan money direct to businesses

The government will give loans to businesses via regional development agencies (RDAs), as banks are still not lending to companies, a report in the Times says.

Bosses 'need to tackle stress'

Company bosses need to identify stress in staff early and ensure they are tackling it before it becomes a more serious problem, an expert advises.

Social networking marketing 'is a risk'

Using direct marketing through social networking sites is a risk as it cannot be controlled in the same way as other forms of marketing, according to an expert.

Work bullying 'could get worse'

Nine in ten people think they are a victim of workplace bullying, with one organisation warning this could get worse in the credit crunch.

Guides & Tips

Redundancy is not the only option

Many SMEs will have to control staffing costs over the coming months. Smallbusiness.co.uk has teamed up with Simon Kite, a partner at chartered accountants Saffery Champness, to offer some tips on how to cut costs and avoid the redundancy route

What benefits do staff want?

 Oval Financial Services’ Debby Hannaford explores how focus groups and surveys can be used to gain constructive and positive feedback about employee benefits packages

Automated hacking

What do the Sony Playstation game ‘SingStar Pop’ and the Association of Tennis Professionals (ATP) have in common?

Don't Miss

Sweet success: Charlotte and Lynne Fudge

After finishing her degree Charlotte Fudge started mail order biscuits company Biccies with her mum last year. The company recently became profitable and has a turnover of £75,000.

Don't let age be a barrier

Margaret Wood started her engineering company ICW UK, which makes high-tech windows and windscreens, at the age of 46. Based in Yorkshire the 61-year-old entrepreneur received a Women Inventors in Industry award in 2003. Her company has a turnover of £400,000

Hosting in a recession

As the global economy staggers from crisis to crisis small businesses face the dilemma of having to control costs while also ensuring they remain competitive.

Store

FT Guide to Personal Tax

Formerly the Lloyds TSB Tax Guide, the FT Guide to Personal Tax is now published by Pearson Education. Written by Sara Williams, CEO of Vitesse Media Plc and Jonquil Lowe, this unique guide gives step-by-step advice to completing your tax return as well as 100 tax-saving tips.

FT Guide to Business Start Up

Formerly the Lloyds TSB Small Business Guide, the FT Guide to Business Start Up is now published by Pearson Education. Written by Sara Williams, CEO of Vitesse Media Plc, this unique guide has sold over two million copies. It offers practical advice about starting and running your own business.

Growth Company Investor

Growth Company Investor is widely recognised as the leading magazine for investors interested in AIM and smallcap companies. Published 10 times per year, and brought to you by an award-winning analyst team, it offers subscribers unrivalled insight into high-potential smaller companies. Subscribe today with a 50% discount in your first year.