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Starting out in business

We recently spoke to Andrew, who started Revis & Co Accountancy Services Ltd in April 1998. From this experience and helping business start-ups over the years, he has gained invaluable skills and knowledge on how to start a business. We asked him for some easy pointers on what the best way to start a business is in 2022, and this is what he said.

Firstly, you need an idea of what business you wish to run- what are your skill sets, and do you have the dedication and motivation to succeed? Is there a market for either your skills or what you want to sell?

Running your own business can be tough; there will be ups and downs, but a successful business can be very rewarding. You will probably end up working long hours in order to make a success of it, but on the plus side, you decide when you work!

Planning is essential, so write down your ideas in a business plan. Where do you expect the business to be in 1, 3, or 5 years? This will be particularly important if you are looking for finance to start the business. Keep going back to this plan to check if you are on track with your aims- if not review, reset, and go again.

You will need to market your business either through local papers, the internet, or both! Build yourself a website, and make sure to use social media like Facebook. The more you can do to advertise yourself like this increases your chances of success.

Finally, decide on the structure of your business- i.e. sole trader or Limited Company. To help with this decision appoint an accountant as early as possible in the process, as the guidance you will get will be invaluable to you.

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