What Every New Company Should Consider

Starting a business can be a rewarding, but stressful, experience. As an entrepreneur, you will have the passion and drive for your business to succeed but it’s not always possible to do it all yourself. This article will look at what factors that every new company should consider when starting up.

Take Advantage of the Support Available

The UK is an excellent place for start-ups as there are a number of incentives offered by the tax system for new businesses. Take advantage of the range of grants available from public and private sector bodies.

If you decide to apply for a start-up grant or support scheme from a publicly funded scheme, you can use this handy tool to find the relevant funding to suit the needs of your business.

London offers many incubators and accelerators sponsored by private companies to help grow new businesses by providing financial and technical services and other support. This advice from knowledgeable and well-connected professionals is incredibly valuable for a young business and the incubator investors may even make a referral to an investor who they believe may be interested in your company.

Where to Invest in your Company

As a new company, it’s vital to keep costs low so choose carefully where to spend your money. Any unnecessary overheads will eat into your profits so invest your money wisely. We recommend focusing on the following areas:

• Location

Find a suitable location to set up your offices that is consistent with the style and image of your business. Use a site such as L.C.P. Management Ltd to find an office space to rent near you, bearing in mind that your office will be a reflection of your brand. Ensure that it is easily accessible for your customers, clients and employees as they may be put off if you are based at an inaccessible location.

• Recruitment

It is important that you find the right employees for your business – they must be hard-working and passionate enough to help your business grow. Ensure that employees undertake the relevant training so they can provide a knowledgeable and professional service to your customers. After all, reputation is everything and you cannot afford to have a weak link when your business is in its starting stages.

• Customer 

The customer is important to your business’s success. Many people rely on word-of-mouth recommendations when making purchases so it’s important to maintain a good reputation. Invest in your website so that potential customers can find your company details easily and get a feel for your business. Also, utilise social media to maintain a direct line of contact with your customers and make sure there is a dedicated phoneline in the office to answer any queries.

As a young business, it is often difficult to know what support is available for you and where to invest in your company. Follow our tips to give your business the tools to succeed and continue to grow.