Why you should start a business in 2017
Despite what you might think, there's never been a better time.
Despite what you might think, there has never been a better time to start your own business. The apocalypse isn’t nigh and that idea you keep shelving ‘for next year’ is only gathering dust up there.
These are uncertain times – Brexit means Brexit, but what does Brexit mean? But the truth is, nothing is ever guaranteed when starting a business. You can never be sure that your small business will grow into a big one; but you’ll never know until you try.
If you have a good idea that you’re passionate about and you work hard, 2017 could be the best year to take that leap. Here’s why:
Confidence is high
Insurance firm AXA says a record-breaking 2,000 businesses will be created every day in the UK this year.
Unpredictable job markets and uncertainty about access to trade is actually spurring people to create their own businesses and take back some control.
What’s more, the same research found that 78% of new business owners said their family lives had improved as a result of being self-employed and 83% described their business as a success.
Online platforms make it easier than ever
Research conducted by Wix.com shows that 50% of 25-34 year olds are thinking about turning their hobbies into an online business in 2017. And why not? The UK’s ecommerce market is the strongest in Europe and the second largest in the world.
Starting your business online means you cut out the cost of rent and utility bills. Not only that, but you open your business up to the world.
Help is at hand
Starting a business is a risk, but there’s plenty of help out there which makes it less so.
The government’s Business is Great website is a good place to start. The finance section outlines all the different types of government-backed funding you can call upon to help you grow.
Metro Bank has committed £1bn toward support for British small businesses in 2017. They value a face-to-face, case-by-case approach to lending for a better understanding of your business’ needs.
And of course, there’s the Starting Your Business section of the XLN Biz Hub for guidance on everything from funding to pitching.