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What it takes to start your own business - Coggle Diagram
What it takes to start your own business
You'll be your own boss
1in 3 business succeed within the first 3 years.
Choose a area of interest or where you find a gap in the industry
The needs a entrepreneur has
confident, initiative , determination, team worker ,risk taker and hard worker
carry out market research first
There is plenty of funding in north wales -careers wales -Help you with insurance, tax national insurance and legal side
Produce a business plan
who? age? gender ? what do people want
Competitors how much do they sell theirs ?what do they do well? and what do they do badly?
Online or in a set location
Your goals for what and where you want the business to go
The potential risks
Resources
Employment
Ask other business owners for help
Small premises spend less on space avoid long term contract
Always get more than one quote to compare prices
Quality suppliers