Start-ups have it tough, site advises

Posted on 16 May 2008

Comments

Start-up businesses, including those run from home, need financial back-up to survive quieter months, smallbusiness.co.uk has claimed.

According to the resource site, no firm owner should assume that it was worth "assuming" that their idea would "take off".

Recent research from Barclays testifies that start-ups are becoming ever more prevalent in the UK - with more starting in 2007 than in any year since records began.

National Statistics from August last year have also shown that there are 4.5 million businesses operational in the UK - 99.3 per cent of which employ less than 50 staff.

Adam Wayland, editor of smallbusiness.co.uk, said: "It’s no use assuming that the idea that you’ve got, or the product that you have, is going to take off. You need to work out where there’s a gap in the market and try and go for that area."

He added: "You find that [the business flourishes] one month and then you’ve got to pay for loads more stock and you’re struggling a little bit. Especially if you have a seasonal business with more customers in the summer than the winter, for instance, you could find it difficult to survive those quieter months."

Category: General News

• Save to del.icio.us
• Digg this story