Thinking of starting a business this year, but don’t know where to start? You are not alone. Despite the worsening economic outlook, the number of registered businesses has surged over the past year. And 2023 is not likely to slow down. According to new data from Virgin StartUp, 26% of UK adults want to start their own business. company this year. Founder’s Friday: The first Friday of the year sees a surge in interest among aspiring entrepreneurs, but data shows that January is one of his most popular months. In 2022 alone, he registered 46% more new businesses in Q1 than in Q2. The first Friday of the year is known as Founder’s Friday. This is because interest tends to skyrocket among people looking to start their own business. In line with this, Virgin StartUp has launched a free business support line where would-be entrepreneurs can talk to experienced advisors and execute their plans. We’ve rounded up some key tips from three successful small business owners, and we’ll show you how to take advantage of them. > Read business doctor Dave Fishwick’s tips for starting a small business. A small business owner can use the Virgin Support Line to book her 30-minute time slot with an experienced business adviser. The first step to getting your business up and running. This can be anything from writing a business plan to financial forecasting to starting a loan application. Andy Fishburn, managing director of Virgin StartUp, said: , Historically, January has been seen as a peak time for founders trying to get their business ideas off the ground. I use it to do research and see where my business fits in the market.” In 2023, Virgin StartUp will launch an expert business advice line…which will help new founders become entrepreneurs. I wish you the best start on your journey as. Free Help: Entrepreneurs can use her Virgin StartUp support line to get expert advice. With the UK emerging from the pandemic and the cost of living crisis raging, business owners have been forced to grapple with the triple whammy of supply chain issues, rising prices and slowing consumer demand. Prime Minister Jeremy Hunt’s fall statement said business owners have cut dividend quotas. The £2,000 allowance will be reduced to £1,000 for him by April 2023 and £500 for him the following year. This means that directors paying mostly or partly with dividends face higher tax revenues. “I always thought coming up with a product was the hardest part of starting a business, but for me, sales and marketing were far out of my experience and comfort zone. “I remember a business advisor looking at my marketing strategy and asking me, ‘What’s that?’ Lack of resources in the early stages also poses a problem, but Jello Cherag Doumal, founder of sustainable children’s footwear brand Pip and Henley, found that this worked for alpaca coffee. Victoria Poon continues the best advice she’s ever received: “It’s not a race, it’s a marathon.” “I’m lucky to be surrounded by inspirational entrepreneurs. I hear this regularly. It’s like community advice,” she said. “Because it proves that rest is important. Seeds planted today can take a long time to germinate, but it doesn’t mean they won’t germinate.” Get free business support from Virgin StartUp Interested? You can reserve a slot here. Tips for First-Time Founders If you decide to take the plunge and start your own business this January, these three of her founders have the best tips. As time goes on, we realize how important it is to have a solid plan.’I’m not saying that the plan will remain static. There is real value in being able to stand up for yourself and be confident that your business will do well. It gives me a lot of confidence when it comes to decision making, especially in times of uncertainty.’ said Victoria Poon of Alpaca Coffee. What’s clear is that even getting 1% done every day can make a huge difference in the long run. And once you get started, you’re on an amazing journey full of learning, both for yourself and for running your business. Don’t let fear cripple you because it will all make sense as you go. Put the customer at the center of everything you do, stay true to your mission and values, and aim for it.
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