January may seem like an unusual time to launch a small business, but you would be surprised when you consider the opportunities. The previously delicate economy seems to be on the rise and with industries expanding, there has never been a better time to get the year off to a positive and entrepreneurial start by setting up your own business.
It has never been cheaper to start up
Believe it or not, it is possible to start trading in less than a day for £10. With endless resources out there, the internet, financial help and government-backed initiatives, there are many ways to make it possible and accessible. Over the last year, crowdfunding has significantly grown as another source of help, allowing projects to gain funding by offering perks and incentives.
UK economy on the rise
It seems like the country has been in murky depths of the recession forever, but thankfully we are slowly overcoming the economic crisis which has caused the demise of many business, large and small. Small businesses have worked constantly throughout to come out optimistically and now make up 95% of UK companies.
According to a study by the British Chambers of Commerce (BCC), the UK economy will surpass its pre-recessions peak next year, with the UK’s GDP set to rise to 2.7% this year. A knock-on effect of this is peoples’ confidence in the optimism, seeing them more willing and assured to spend more, all contributing to the rise.
2013 broke records for SMEs
Last year saw some fantastic record breaking figures for small business, with more than 500,000 start-ups being launched in 2013, improving on 484,224 from the year before in 2012. While it can’t be guaranteed that 2014 will see the same level, or even more, success, if there ever was a time to start a business, the time is now.
Need help? It’s everywhere and it’s free!
As mentioned above, we are spoilt for choice when it comes to assistance for starting up a business; the community has expanded on a huge scale, mainly thanks to the online world in the forms of LinkedIn groups, Google+ communities and numerous expert websites offering papers and guides to download. Mentoring and monthly events are equally crucial and are popping up all over, allowing industry experts to pass on their knowledge. Campaigns like Small Business Saturday, too, are aimed at promoting small to medium enterprises through the powers of social media and word of mouth.
Make money from what you love
For some, one of the main factors driving the desire to start up a new business is the appeal of being your own boss. As the owner of a business, whatever the industry or niche market, you have the opportunity to put your passion to the test; the main factor of success is doing what you love, plus adds to the enjoyment of work! Be savvy, be innovative and don’t be scared to take risks.
What would Branson do?
No one else says it best other than entrepreneurial king, Richard Branson, “Fear is something everyone must learn to cope with when tackling life’s challenges, but this is especially important for entrepreneurs.” The man behind international super brand, Virgin, encourages others to make fear the driving force and to embrace it.
So, with all of these reasons and factors, it seems that the start of a new year, 2014, is THE time to bite the bullet and start your own business – what are you waiting for?