Resources

Advantages and Disadvantages of a Start-Up Business

Considering a Start Up Business

Now that you have decided to begin the process of creating a new start-up business, it is time to look in more depth at the process and the potential pitfalls of launching a start-up business.

Starting a business in any way at all is rarely entirely straight forward, but being aware of the potential problems will enable you to plan and to ensure that you are prepared for almost any event.

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Main Differences between Start-Ups and Going Concern Businesses

When setting up a business, a key decision that you will have to make is whether you are going to buy a going concern or create your own start-up.

By definition, a going concern is an existing business that has proven to be solvent over a certain trading period. A start-up involves creating a new business that does not have a trading history and you will have to start from scratch. In the case of the latter, you will have no history upon which to base your future projections in terms of income and expenditure and no client base to work with.

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A company’s employees are arguably its most crucial resource. In order to ensure a successful relocation, a company must make efforts to keep its staff ‘on side’ throughout the whole process, from the initial planning stage to the completion of the move.

Ensuring that staff is informed about the company’s relocation plans is the first important step. If employees are not kept in the picture then the rumour mill will grind into action, with all kinds of gossip, speculation and half truths causing uncertainty and possible disruption to the business. If several possible relocation options are being considered, consulting staff about their preferences can be a useful exercise and could increase the number of staff who would be willing to relocate.

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Planning a Business Relocation

Careful planning is the key to relocating a business – successfully.

The decision to relocate a business should not be taken lightly. The decision makers should justify to themselves the reasons for moving. Three fundamental issues need to be addressed:

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Ensure that your Online Business Remains Operational

Once you have set up an online business, it may feel as if the hard work has been done. If you have taken the time to ensure that the website is structured in a workable and secure way, then this may well limit your ongoing work; it does not eliminate the need to update continually and to remain abreast of legal and practical changes.

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Selling Online – The Basics

Even without much consideration, it is easy to see how selling online can be hugely beneficial in terms of both costs and time saved. With an online shop, you are effectively open 24 hours a day and do not need to pay sales assistants to wait around for your next customer. Having said this, there are skills required to run an online shop or business successfully that should not be overlooked.

It is not simply a case of setting up a website and watching the cash roll in!

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When preparing to start a purely internet based business, it can seem like a somewhat abstract situation. There are no tangible premises to look at, in most cases, and the whole process can appear a little remote. With this type of remoteness, it becomes increasingly important to remain organised and focussed in a way that ensures that all aspects are taken care of, particularly as there are far fewer physical reminders to jog the memory!

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