If you are considering starting your own business but struggling to get your idea off the ground you are certainly not alone.
Even the most motivated entrepreneurs find the early days a challenge and it’s no secret that more than half of new companies fail within the first 18 months. So whether it’s a lifelong ambition or a recent lightbulb moment, deciding to go it alone takes guts, determination and an immense amount of planning.
Out of all the businesses in the UK, more than 99 per cent of them are SMEs and 96 per cent have fewer than ten employees, according to the latest House of Commons library report. Figures suggest that, while there are failures, there are also many success stories. Female business owners are in the minority, as around a fifth of SME employers are women. While women are significantly under-represented in the current statistics, it would be fascinating if we could measure how many females are considering turning to entrepreneurship.
The figure would undoubtedly be high due to the numerous benefits for women who do step on to the self-employed career path. From escaping the glass ceiling of a corporate set up to achieving a better work/home life balance or simply to fulfill your true career potential. For mums, flexibility is one of the biggest attractions, with the ability to satisfy working ambitions and fit it around family commitments.
The burning question is, how do you get started?
If you are interested in setting up your own company but are not sure what type of business you want to start or how you go about it, Women in Business Expo have put together some top tips to help you reach a measured decision.