SMALL BUSINESS ADVICE

They say that small business is the backbone of the economy of this country but what advice is out there for the small business owner or those wanting to start up small businesses. Local libraries have reference sections filled with helpful books and guides on a range of issues.There are a series of directories giving details of local businesses and information about them – such as Kompass. It is always worth spending a little time in the library’s reference section to see what is available. Often they will also advertise local events for small business such as seminars and training sessions.

The traditional sources of advice, solicitors and accountants are also helpful but can be a little expensive and they tend to stick well within their knowledge base. Most professional firms offer a free half hour initial interview and it is worth taking up such an offer to make sure that your present plans are on the right lines. Solicitors, particularly, like to show off their skills and the half hour will sometimes be stretched if you have an interesting point.

If you need advice for starting a small business the Government website Business Link is a really good starting point. The address is www.businesslink.gov.uk and the site contains thousands of pages of good and up-to-date articles on such things as small business marketing advice and small business financial advice. The site also gives access to their support systems which can lead you to one of the many experts they use and a one-to-one discussion. Business Link, generally, gives excellent advice for the small business. Another Government site is run by the Department for Business Innovation and Skills (www.bis.gov.uk) and contains a whole series of useful and free information available at the push of a button. The HMRC site gives a lot of information about tax and VAT.

Perhaps surprisingly, banks can sometimes help. Their websites often contain some very good basic business tools, such as Business Plans and Cashflow Forecasts which can be accessed using standard software. Their advice will rarely be complete and full but it will be accurate and could solve some of your problems. Beware of sites which offer ‘free’ advice pages. They are often little more than sites trying to sell you a ‘magic’ solution to your problems. There are services out there that can and do help but remember the old adage ‘you get nothing for nothing’.

Chris Hutchins of the Small Business Advice Network www.sban.co.uk

Writing a Winning Business Plan - www.writingawinningbusinessplan.co.uk Raising Finance for your Business The Small Business Start Up Workbook - www.the-small-business-startup-workbook.co.uk