There are many professional advisers – lawyers and accountants – that will advise and set up your company for you, for a fee. You should, however, do your research first and take advantage of the numerous public bodies that exist to support new and growing businesses, from the large economic development agencies in your nation to the smaller local ones. As well as introducing you to a network of support from their own resources these agencies also run or can suggest other gatherings where you can access other local businesses (who could be a source of custom as well as advice). They also provide training courses, resources such as templates and guidelines, and may also provide you with a mentor or personal adviser. They will be very keen to understand your vision for your enterprise and in the next session you will be introduced to the business model canvas as a useful way to plan and describe your business to others.
In this session, you have:
- recognised how businesses can be sustainable through managing all the core functions of getting, doing and running the business
- identified that there are several different types of business entity to choose from depending upon how big you think your business is going to become
- considered how your own motivation and how you intend to finance the business has an impact on the structure of your business
- learned how to assess gaps in the core skills your business needs
- identified how important it is to get professional advice and support from others.
In the next session you will explore how your business can create value for you.
You can now go to Session 3.