1. Research the Coffee Shop Market Understand: A clear market picture helps shape your coffee shop’s niche and identity. 2. Create a Coffee Shop Business Plan Include: A business plan is crucial for attracting funding and guiding your launch. 3.…
1. What Does It Mean to Claim Back VAT? Claiming back VAT (Value Added Tax) means reclaiming the VAT you’ve paid on business-related purchases and expenses. If you’re a VAT-registered business, you’re entitled to recover this VAT by submitting a…
1. What Is the Start Up Loans Scheme? The Start Up Loans Scheme is a UK government-backed initiative that provides unsecured personal loans to help people start or grow their businesses. It’s run by the British Business Bank and supports…
1. Executive Summary This is a snapshot of your entire business plan. It should include: Keep it brief—ideally one page—but compelling enough to grab attention. 2. Business Overview Detail your business basics and model: This sets the context for your…
1. Online Retail or E-commerce Business Why start it: Best for: Creative individuals, marketers, or anyone with niche product ideas. 2. Freelance Services or Consulting Why start it: Best for: Professionals, remote workers, and service experts. 3. Personal Fitness or…
1. Understand Your Credit Situation First Start by checking both your personal and business credit scores. Use UK services like: Identify what’s dragging down your score—missed payments, defaults, or CCJs—and take steps to improve it if possible. 2. Consider Government-Backed…
1. What Are Pricing Strategies in Business? Pricing strategies in business are methods companies use to set the best price for their products or services. The right strategy influences customer perception, competitiveness, sales volume, and profit margins. 2. Why Are…
1. Start Up Grants from Local Authorities Local councils and LEPs (Local Enterprise Partnerships) offer grants for starting up business in specific regions. These grants help cover: Check your local council’s website for current schemes and application windows. 2. The…
1. What Is Primary Research? Primary research involves collecting original data directly from the source. Methods include: It is conducted firsthand and tailored to specific objectives. 2. Pros of Primary Research A. Targeted and Relevant DataPrimary research delivers data directly…
1. What Is a Loan for a Startup Business? A loan startup business uses to fund early operations is typically: It’s a way to turn your idea into a functioning company without immediate revenue. 2. UK Start Up Loan Scheme…
