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Posts Tagged ‘starting up’

Starting up a business is always going to be tough and like many things in life, there’s probably never going to be a perfect time to take the leap and launch your idea. For many entrepreneurs, one of the key concerns is acquiring funding to turn your dream into a reality. Doug Richard says that one of the best ways to fund your start up is to seek investment from one of the three Fs – Friends, Family and Fools.

Many people are reluctant to enter into business with friends. What has your experience been? Would you advocate mixing business and friendship?

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People often over-analyse starting up a business. As PricewaterhouseCooper’s Nigel Reynolds explains, in the early days, it really is all about cash flow – cash is king.

Now more than ever, business owners are concerned about managing cash – but you simply can’t think about money coming in with a short-term frame of mind.

As a small business owner in this current economic climate, what is your number one strategy in retaining customers and encouraging stable growth in the medium to long term? How far ahead to you consider when trying to grow your business?

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Penny Power, founder of Ecademy.com, explains why anyone starting up a new business should be active on social networks.

Are you already using social networks to get your business off the ground?  Please share your story.

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Radio 4’s new show – A Small Business – is a welcome addition to the schedules.

In the promotional blurb for the show, an FSB spokesman suggested that we’re currently losing 120 SMEs every day in the UK, but for each one that closes, 11 new ones are starting up. That amounts to half a million new business in 2009.

Research from Barclays shows that 4,000 more start-up businesses were established in 2008 than in 2007 despite the worsening economic climate. The number of new businesses set up in 2008 was 436,600, up from 432,300 in 2007.

But something is getting lost in translation, because the total stock of businesses is not growing by a half million each year. In fact, about the same number close or fail for one reason or another. I blogged about this earlier.

Whatever the truth in the figures, the show ought to have an audience amongst both start-ups and established businesses that make up the 4.7m SMEs in the UK.

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