New Year, New Start?
As we look forward to some well- deserved time off, spending Christmas with family and friends, thoughts often turn to the New Year.
For some this will mean making New Year resolutions, looking back on 2017, but for over 500,000 would be entrepreneurs this could mean looking to start their own business. Last year alone saw 581,000 new company formations with over 600,000 expected to launch by year end. This is not a new trend either as 2014 saw a new company being born every minute.
With cuts in public spending looking to be a feature of future Government policy these budding entrepreneurs are contributing significantly to the economic landscape of Britain. Small businesses now represent 95% of all UK. companies.
One of the hardest decisions faced continues to be that of which business to start, which sector could be the most profitable, could an existing hobby or skill be turned into a business?
Once a business idea has been decided upon there is the question of finance. How much to borrow, where to find the best rates, do you even need to borrow?
The Telegraph recently reported that Startup Britain, working in conjunction with the Start Up Loans scheme, a £310m government-funded initiative that provides loans to new businesses, is assisting this business growth at a time when banks are tightening up on lending criteria. Would be business owners can borrow up to £25,000 over five years at an unsecured interest rate of around 6%. Former Prime Minister David Cameron recently said that he had planned to triple the number of people using the scheme to 75,000 over the next five years and this policy has not been revised.
So, given that such entrepreneurs are crucial to Britain’s economic recovery, who supports them in making their dreams of business ownership a reality?
One such organisation is Mr. Franchise, their team of experts promise to work with individuals who are looking to identify the right business opportunity for them, based on their experience – and what really excites them.
As stated earlier growing numbers of people are looking to become their own boss and are ready to start their own business, taking the franchise route is becoming increasingly popular.
So why franchising as opposed to the typical start up route?
• Because of the support you get from day one
• The opportunity it gives you to build a significant, profitable local business
• A franchise is statistically proven to be far more likely to succeed, than a non-franchise start-up
• You get brand name recognition and a tried and tested business model
• Franchising is about being in business for yourself – but not by yourself
• Finance is far easier to obtain for franchised businesses.
Mr. Franchise have the advantage of being totally independent of any franchise so are ideally placed to offer impartial advice and guidance. They help the potential business owner to identify current skillsets and how these might be harnessed for business success.
As an organisation dedicated to development and growth they exist to support new Franchisees to find their perfect business opportunity, get that business up and running – and they support you throughout the process.
Additionally Mr. Franchise work closely with professional organisations dedicated to offering finance, support and mentoring to entrepreneurs. They also help to source other professional services, such as solicitors and accountants that can assist in making a business start-up a success.
“Why climb the corporate ladder when you can build an elevator in your own building?”
― Joshua E. Leyenhorst