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What support is there for starting a business?

  • Blog
  • 24 March 2017

There is a great deal of support available for new businesses. Knowing where to look for help, and what support is best suited to your business can really help give your new business the boost it needs.

We’ve highlighted some of the key areas that can benefit a new business.

What support is there for starting a business?

Early advice

When starting a business, it is important to make sure you’ve laid down solid foundations to prepare both yourself and your business for working life.

From setting out the growth and trajectory of your business via a business plan or understanding the importance of insurance or how to register your business for example.

There is a wealth of information, guides, and support available to businesses. For example, if you’re struggling to create your business plan, there are guides available to help to make sure you have covered all the relevant points and details that you need to in order to help your business get started.

You can also seek out marketing reports, or competitor analysis to help you decide on which markets or sectors your business should target. This can help you to target areas where you stand to be more profitable.

Financial support

As you get started there can be several surprising costs incurred, such as for providing equipment or preparing your business premises. 

The financial support available to people who are looking to start their own business is quite varied. This support can take the form of a range of loans and grants from banks, charities, companies or the government.

For initial start-up costs, consider looking into loans and grants specifically for new businesses such as start-up loans or business incubation grants.

You can also look at specific grants based on a number of factors, such as supporting new businesses in a specific sector or geographical location.

There are also loans that can help with the hiring and training of employees. If any employee that you will take on is considered disabled, an Access to Work grant may be available to cover the financial costs of adapting your business to meet their needs.

Support is also available for making your business as green as possible. For example, The Carbon Trust offer the Green Business Fund and Energy Efficiency Financing to enable your business to be as eco-friendly as possible in an affordable fashion.

Long term guidance

Though there is a great deal of support available in the early stages of starting your business, that does not mean that there is going to be an arbitrary cut-off point where support will no longer be offered to you.

If you would like the skills and experience of an established industry veteran to call upon for advice in running your business, business mentoring could be an option.

There is no obligation to use their services, but you could enlist their experience as a sounding board for ideas or as a source of guidance to determine the best possible plan for the future of your business.

How can FSB help support a start up

While it may seem rather daunting to start your own business, there is a wealth of experience and support available for you to take up and make the process much easier.

FSB Business Creation provides people looking to establish their own business access to a range of services designed to help and support new start-ups.

These services include access to:

  • Help with company formation
  • Payment services
  • Insurance services
  • A dedicated help and advice line
  • Networking support

To find out more about how you could benefit from FSB Business Creation get in touch with a member of the team or visit our FSB Business Creation page.