So you want to start a small business...

Anyone can start a business, but running one successfully – and keeping it running – takes something special. It does not happen without planning and hard work.

There are many reasons why you might want to start a small business

• you may want to share ideas, products or resources
• you may want to be your own boss, or
• you may want to supplement your regular income.

Beware

Starting and running a business is hard work. Owners need to be flexible and enthusiastic. And they need to have good judgement.

Be prepared

For your business to succeed, it is important to fully understand what it takes to start, run and grow a business. The more preparation you do before start up, the better your chance of avoiding financial and personal heartache.

Here are the things to consider:

• why do you really want to go into business?
• what are your goals for the business?
• what skills are needed start, run and grow the business?
• how much income will the business need to generate to survive?
• how much time, effort and resources are you prepared to invest in the business?

Be realistic

Don’t underestimate how much time and emotional energy it takes to run a business. No one will be as excited about your business as you.

Consider the finance and resources needed to back your ideas.

Visit the interactive Small Business Tool Kit for more information plus quizzes, case studies, and planning tools.