Seek support to help your small enterprise grow

Mar 3 2009 by Suzanne McCreedy, The Journal

GETTING a small business off the ground can seem like an uphill struggle at times, especially in challenging economic conditions.

That is why it is crucial to seek support and guidance to ensure your idea or enterprise can grow.

There are many ways Business Link can support a business and help it plan for the future. If you haven’t already started your business, research and planning are key tasks to complete.

Developing your business idea into a viable product or service is a critical part of building a business. Thorough assessment and market research at an early stage will help you establish whether there is a market for your product or service.

Your next step is to complete a realistic, working business plan when you’re starting a new venture.

A business plan is a written document that describes a business, its objectives, its strategies, the market it is in and its financial forecasts. It has many functions, from securing external funding to measuring success within your operation.

The Business Link website, under the heading ‘Starting Up’ shows you how to prepare a business plan using easy-to-follow steps. You can also get online help with research and planning to develop your business ideas.

If you have already set up a company, Business Link has ways to support your business, including a free business health check. Companies can use this to discover if they are prepared to face the tough market conditions ahead and assess strengths and weaknesses. The health check can be used to analyse key areas such as finance and administration, with the aim of identifying and avoiding future problems and improving business performance. It asks a number of questions which help identify potential difficulties before they arise, meaning your business can stay one step ahead. Alternatively, a Business Link broker can advise how to best combat the effects of the current climate.

For further information about Business Link visit www.businesslink.gov.uk/northeast or call 0845 600 9 006.

By Suzanne McCreedy of Business Link.