Small businesses are the backbone of this country’s economy. They generate a lot of work for employees and represent a substantial proportion of the economic growth of the country. If we seriously want to get out of the current economic recession we are in, we need to recognize and encourage the importance of small businesses and do everything we can to encourage and support them. It is with this in mind that we decided to create this site in the hope that we can offer some support and guidance to those looking at starting or maybe buying a small business and who want it to grow.
In the UK small businesses represent over half of the private sector’s employee numbers. If you discount government, council and military employees, over 60% of all working people work for small businesses. They are the key to our success in the future and with the increasing number of people becoming unemployed, the decreasing opportunities for long term employment and the increasing population what real choice is there if you don’t want to be living on state benefits other than starting or buying into a small business?
As mentioned previously, this country’s economy needs more small businesses, particularly successful ones to create sustainable economic growth across the board. The more profitable they are, the better it will be for everyone. With the increase of mechanization, automation, computers, the internet and cheap outsourcing a lot of small (and large) businesses are struggling to stay in business at all and a lot have gone to the wall almost overnight. With more and more cheap imported goods flooding the market, many of our traditional service and manufacturing companies have gone bust or had to substantially downsize, leaving many thousands of people without jobs.
Times have indeed been very hard for a lot of people and a lot of companies, the larger ones especially, as they have so much in the way of resources tied up in established markets and what some would call old fashioned business practices. The ones that have embraced the new technologies have definitely got the edge on their competitors. Things like having an on line store, videos, being able to take credit card payments, cheap and fast shipping, these are all elements that are no longer optional they are absolutely essential to the modern small business.
If you are a retailer and in many cases in service industries, whether or not you have a bricks and mortar store and sales/service staff, you still have to maintain an on line web store showcasing your services or products at competitive prices with a keen eye on your competitors if you want to stay in business and even increase your profits. The internet, computers and other new technological innovations have been a great boost for small businesses in many ways allowing even solo operations to become immensely successful through smart marketing practices such as learning how to drive targeted traffic to their web sites, knowing their customers needs, studying their competitors and so on.
People who start small businesses often are looking for more freedom in their working lives, to be able to set their own targets and work the hours they want to work. This way they can have more time to spend with their families and be more flexible when it comes to holidays and child care. It can be because they see it as a challenge personally or they have realized you can never grow wealthy working for other people. Some are primarily motivated by the independence, not being at someone else’s beck and call, and not having the threat of redundancy hanging over their head. You may want to build a business to give you a sense of accomplishment or maybe to pass on to your family members later on. Others want to build a business in order to sell it later on, while some people just want the fun of going into business doing something they love.
Here are a few web sites that you may find useful -
Govenrnment Business Advice (replaces Business Link)