Starting a Business

  • SB
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Post 3+ Months Ago

I've considered this for a number of months now. Having looked at the way things are currently i did start to think about whether or not this is the right time to do this bearing in mind the economy here isn't fantastic and money isn't being thrown about like it once was.

On the other hand though i honestly don't think there could be a better time to start a business. If you can ride through the tough times and manage to survive financially without alot of support from the bank then you are likely to continue to do well when times do get better. There is alot of talk from the UK government about encouraging younger people to starting their own businesses up, which to me suggests that there is even possible financial rewards for doing such a thing.

That been said, having looked into it the banks are not so keen on helping "micro businesses" out as much as "small businesses"

Who here is keen on starting their own business? who here has their own businesses? is your country government providing you with enough support to make it worth your while?
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Post 3+ Months Ago

  • Don2007
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Post 3+ Months Ago

Some people have started to work on their own since they can't find a job. A loan isn't always needed, especially for a service oriented business. Exactly what business do you have in mind?

I do most anything from sewers to computers.
  • SB
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Post 3+ Months Ago

Don2007 wrote:
Some people have started to work on their own since they can't find a job. A loan isn't always needed, especially for a service oriented business. Exactly what business do you have in mind?

I do most anything from sewers to computers.


I have a few ideas going through my mind ranging from the most ridiculous to something a bit more innovative. The problem with going along the innovative route is it may be less successful. The idea that springs to mind relies particularly on a local authority parting with funds in order to fund this organisation, however money is extremely tight at the moment. I've thought of different ways to approach this idea and perhaps build the business up in stages then eventually have the full model rather than jumping straight in with a proposal, but i like to think big. I don't want to have a few thousand £ coming in every month, if you know what i mean.

On the other hand, i am tempted to start something small up and gain a bit of experience. This business could be anything like window cleaning or something along that route, however it would need to be big enough to gain enough income not only for me to survive but for the business to eventually expand or for the business to be saleable to a future buyer should i decide to move onto something different. I have no worries about starting it up, and i don't worry about making the income... i just want to be sure that the decision i make is 100% safe and that every single area is looked at. It needs to be something that can generate money for 12 months of the year.

I'd easily do something online, but my knowledge isn't nearly as good as i'd like it to be. I have ideas for websites, but not the resources to do it. It's just something i may look at one day when i have a bit of cash to throw towards the right resources.
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Post 3+ Months Ago

I also have a very good possible business partner who is quite keen on starting something in China (where she is originally from) as the country is booming at the moment. So, naturally i'm thinking along the lines of what kind of business could i create that could expand or possibly relocate to China when my friend is ready to take part.
  • WritingBadCode
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Post 3+ Months Ago

SB wrote:
i just want to be sure that the decision i make is 100% safe and that every single area is looked at. It needs to be something that can generate money for 12 months of the year.


I think you can forget about a 100% safe business, even if you hit a new market expect people to eventually try to take a piece of the pie. Usually it is a gamble with companies and you probably have to throw some money on it (especially if as you say you plan on making a huge income), you may succeed or you may end up making nearly no money at all - there is no guarantees.

SB wrote:
I have no worries about starting it up, and i don't worry about making the income...


Why is that? :o
  • Don2007
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Post 3+ Months Ago

SB: It sounds like you are all over the place, from window cleaning in the UK to sales in China. You really have to focus on one thing.

I remember going into a store during a recession around 1975. The place sold all kinds of things but every department was empty except for one. That was the candy counter. There was a long line & the girls were working very hard to serve the customers. That told me one thing. No matter how bad things are, people still feed their addictions. If I were ever really stuck for money, I would buy & sell chocolate.
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Post 3+ Months Ago

WritingBadCode wrote:
SB wrote:
i just want to be sure that the decision i make is 100% safe and that every single area is looked at. It needs to be something that can generate money for 12 months of the year.


I think you can forget about a 100% safe business, even if you hit a new market expect people to eventually try to take a piece of the pie. Usually it is a gamble with companies and you probably have to throw some money on it (especially if as you say you plan on making a huge income), you may succeed or you may end up making nearly no money at all - there is no guarantees.



I see you are quite literal when it comes to reading text, so i aught to be a bit more careful with what i type. I actually completely agree with what you say and know that it is silly to expect a 100% successful business. The point i really meant to say was that i'd like to be 100% ready, have no stones unturned. Of course, there are going to be things i may come across that i will not have anticipated, but if i can be as ready as i can then perfect.


Don2007 wrote:
SB: It sounds like you are all over the place, from window cleaning in the UK to sales in China. You really have to focus on one thing.


I am not all over the place. You asked me what sort of idea i had, and as yet as i stated i have no direct answer. Obviously i am not talking about doing something today nor tomorrow as i know i am not ready. I was stating how i have a few ideas still floating in my mind and it's really up to me now to decide which one is the best one for the current situation and to work out any risks i may have with each and see what is worth it.

It sounds like you've done something in the past thought Don2007?
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Post 3+ Months Ago

At the moment, I do handyman work & computer repairs. I've never done anything except service oriented jobs. I tried house cleaning once but didn't like dealing with the customers. Repair work doesn't always have to be pretty. It just has to work.

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