Starting Your Own Business in 2023

I started my own small craft business about eight years ago now, Starting Your Own Business was very different then and Etsy was just for handmade sellers (now anyone can sell anything on there!), social media wasn’t that popular and shopping online was not the norm…

Times have changed very quickly, Starting Your Own Business is very easy such –

• Selling on Etsy, Amazon, eBay and Vinted
• Animal sitting/walking
• Coaching & Mentoring
• Cleaning
• Childcare

Here is a list of resources I have either found whilst searching online or used myself.

Mentorsme – An online service for small and medium-sized businesses (SMEs) that allows you to search for mentoring services according to the stage of your business. Offers both free and paid mentoring support.

Digital Enterprise Digital Knowledge Exchange – a programme of workshops, masterclasses and mentoring support, offering participants access to knowledge and expertise on digital topics e.g. digital marketing, social media and cybersecurity

ICAEW (Institute of Chartered Accountants in England and Wales) – The ICAEW is a professional membership organisation. It manages the business advice service, where you can search for chartered accountants in your area who offer a free initial consultation. The website also has online business guides covering finance, running a business, tax etc. Accountants offering a consultation can be found here: https://find.icaew.com/ (enter your location and then filter the results using the BAS tick box on the left-hand side of the screen).

Will it cost money?

Some businesses require financial investment at the start to purchase equipment, pay for branding and website design, or to use it as working capital. While fledgling businesses are often not eligible for grant support, as they have no track record to prove they’re a secure investment, there are Government-supported loans through programmes like the Start-Up Loan Company.

Do I need to register as Self Employed?

It depends on your business structure – if you’re a sole trader, you do, and you can register with HMRC here. However, if you run a limited company, you’re both a director and an employee of your own company, so you don’t need to. Other business structures, such as partnerships, can vary, and it’s always worth checking to make sure

So go on what are you waiting for?