Sunday, 7 June 2015

You Starting?

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  For many, starting their own business would be an impossible dream. Some business-minded individuals are able to set up independent Companies to provide a skill or service as a Business. Most are content to offer their skills to an employer for the predictability of a monthly pay cheque.

Small business owners have to have a broad understanding of the many factors of running a Business and need to effectively manage costs as well as their complete supply chain. Predictably because of the huge amount of investment required in starting a Business, it takes several years before most Companies start to break even. This is the main reason that over 90% of new Businesses fail in their first five years.



When you consider the cost of rent, equipment, marketing, salaries (if any) and materials, etc it is no wonder that so few people even attempt to set up their own Businesses and prefer to opt for having someone else as their Boss and see their skills and efforts 'line the inside of someone else's pockets'.

There are now however a number of cloud based services that can provide access to systems and online services such as Google Drive, Microsofts Office 365 and even access to Accounting and Sales Platforms such as SAP and Salesfirce which give individuals and small Business owners access to the types of Business Systems previously only larger Companies could afford to invest in.

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This has flattened the playing field for many Businesses and helps to reduce the amount of cost involved in starting a new venture. Until quite recently a Business owner would have had to invest in server hardware and develop some understanding of how to configure and support their infrastructure or be forced to pay a specialist company to do it for them. Many Business Systems were expensive and difficult to maintain and set up but with the advent of 'Software as a Service' there is no longer a need for any hardware or specialist equipment and anyone with a laptop and an internet connection can very easily start using a vast array of different Business Systems available on a monthly subscription. Most providers offer online training or webinars to help new users to get to grips with each system at minimal or no extra cost.

The ability to start a new business including a website, email, digital document storage, access to ERM/CRM and Finance systems, flexibly and quickly vastly reduces the cost of setting up a new venture and therefore greatly increases the chances of a new venture succeeding through its formative years.



Start A New Business

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