How to Set Up a New Business

This highly practical workshop will give you a strong understanding of how to set up a new business. It will increase your confidence and sign-post you to future sources of help. It will cover the key issues you need to address, including marketing, business finance (where and how to access it) and what is required to prepare a business plan.

Workshop Content: Day 1

Getting the fundamentals right from the start.

• Business types, structures and legal requirements.
• Self-appraisal of the business idea and SWOT Analysis – personal & business.
• Creating a survivability budget.
• Employing people and selecting premises.
• Use of the Internet in your business and GDPR.
• Managing IP and others’ IP.
• Personal Action Plan completion.

Controlling the cash in your business and financing it.

• Sources of finance – friends & family, banks, grants, Start Up Loans, etc.
• Sales & Income forecasts, Profit & Loss Forecasts and Cash Flow Forecasts.
• Basic Bookkeeping and using different software packages.
• Banking & cash, VAT, HMRC and legal requirements.
• Finance Action Plan completion.

Workshop Content: Day 2

Markets, Marketing and understanding how to win customers.

• Market research and market testing.
• The marketing mix and branding.
• USP – what makes your business different from the competition?
• Use of internet & digital marketing (incl. websites & social media)
• Networking for success.
• Producing a Marketing Plan.

How to prepare and complete your Business Plan.

• Why have a Business Plan and when is it right to review your Plan.
• Sections of a Business Plan and the logical order.
• Production of your own outline Business Plan.

 Who should attend?

• People who wish to start up a business based in the Essex Local Authority area.
• Start-up businesses registered for less than one year that are based in the Essex Local Authority area.

The workshop will begin at 10am and finish at 4pm each day. Lunch and refreshments will be provided. You do not need to attend both days, but we recommend that you do. Please select your attendance days when you register.