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Before starting your new business

If you are considering becoming self employed or starting a business, there are lots of things to consider.

Is your business idea viable?

  • Will you have enough potential customers for you to be able to generate a profit?
  • How will your business be unique or different from the competition so that customers will choose to spend their money with you?

Do you have the skills and qualities to make it a success?

  • Do you have self belief, support from your family and are you prepared to work hard?
  • Do you have the right mix of technical and practical skills?
  • Do you have the financial and marketing skills required - or are you willing to learn?

Do you understand the risk?

Running your own business means that you are taking a risk in terms of both your time and money. While it may bring many rewards, there is also a risk that it may fail. You need to consider how you will manage and how much you can afford to spend.

Our 2021 guide to starting a home based business [819KB]  is packed with helpful information about setting up a home business, or take a look at available business property search tool to browse available commercial properties. 

The D2N2 Growth Hub offers online toolkits and telephone advice to help entrepreneurs develop their business idea.  

For further information from partner organisations, take a look at our more help and advice pages.