One of your first and most important business decisions can be picking your business name. I would keep this name quite short as it makes it easier to remember for people. It obviously needs to have something to do with the business sector you are entering. You will now need to work out how much money you will need to set up the business. This can be quite daunting but is essential. In the short term I would advise to keep these start up costs as low as possible, you can always buy or rent better machinery in the future as an example.

Once you know what you want to do for your business, you can see how profitable it can be. Next, you’ll need to find funding to start your business. Once you are aware of how much money you need, you then have to find it. The next stage is to market your product or service. There are many ways of doing this including: The internets via a website, an advert in the newspaper, direct marketing in the form of leaflets, an advert in the yellow pages, or exhibitions trade fairs. You then need to work out how much to charge for your product or service. It is also important to realize that we will make mistakes along the way. When this happens we need to think positive and not to beat ourselves up. It is an experience we can learn from.