11 Reasons why Spring is the best time to start your business
The Aldermore Future Attitudes study revealed UK small businesses launched in spring tend to do better than companies created during other seasons. So, should budding entrepreneurs be gearing up to launch now? What are the advantages for new business owners and why?
Paul Harrison, Co-Founder of The Travel Franchise, can explain. He knows a thing or two about starting a business, having recruited and trained over a thousand people with no previous experience in travel or sales, turning them into successful home-based travel business owners, many of whom take six-figure sums of sales each month. He has helped transform lives as people leave unfulfilling jobs to follow their passion in travel.
Paul Harrison says: “Starting a business is a significant decision, and timing can play a crucial role in its initial success and long-term sustainability. Spring can be an especially opportune time to launch a new business venture in the UK.”
Here are 11 reasons why:
- A natural time to start a business: Starting a business early in the year enables you to build momentum at a time when there are less distractions and consumers have money to spend (as opposed to say the lead up to Christmas.) In the travel business, you want to be adept at what you do before the beginning of January which is the start of peaks, the busiest time of the year for agents.
- Strategic Planning and Goal Setting: The timing of a spring launch allows entrepreneurs to strategically plan their business operations around the calendar year. This can be particularly advantageous for setting and achieving short-term goals within the first year of operation. By starting in spring, businesses can leverage the initial months to establish their brand, build a customer base, and then capitalise on key retail periods such as summer holidays and the Christmas season. This planned approach can help in pacing the growth of the business, ensuring that operations are scaled effectively, and that the business is well-positioned to meet its first-year goals.
- Tax Planning Advantages: Starting a business in the spring allows you to take full advantage of the new tax year in the UK, which begins in April. This timing can simplify your financial planning and tax obligations, providing a clean start to align your business's financial year with the tax year for more straightforward accounting. Starting earlier in the year also allows you more time to get to grips with the tax changes and implement the best booking-keeping system.
- Improved Economic Outlook: Spring often marks a period of economic rejuvenation following the slow winter months. Consumer spending increases as the weather warms up, which can benefit new businesses looking to capture early sales and establish their market presence.
- Availability of Funding: The beginning of the fiscal year also means new budgets for investors and government grants. Launching in spring can position your business advantageously to secure funding before those resources are allocated elsewhere.
- Networking Opportunities: Spring is a popular time for trade shows, business expos, and networking events. These can be invaluable for a startup looking to build connections, learn from industry peers, and attract early interest in its offerings.
- Tried and Tested Consumer Spending Patterns: Starting in Spring allows you to maximise key upcoming events and consumer spending patterns such as Easter, Mother’s and Father’s Day and Summer Holidays. These occasions can drive significant retail and online shopping activity, offering new businesses timely opportunities to introduce special offers, promotions, or themed products that align with consumers' spending patterns. Launching in spring allows businesses to tap into these retail events, providing an immediate boost to sales and brand visibility.
- Outdoor Operations and Events: For businesses that require outdoor activities—such as construction, landscaping, outdoor fitness, or event planning—spring offers the ideal time to begin. When it comes to marketing, hosting a stand at a local community, wedding show, music or sporting event can be an ideal opportunity for meeting and educating consumers about your offer. Think about how to engage customer interest and participation in events, resulting in social media exposure and word-of-mouth marketing.
- Talent Recruitment: Many people consider new beginnings in the spring, including changing jobs. This season can be ideal for recruiting motivated talent looking for new opportunities, including recent graduates entering the job market.
- Marketing Momentum: Launching in spring allows businesses to capitalise on seasonal marketing themes, such as renewal, growth, and outdoor activities. This can create a natural momentum for marketing campaigns and help establish your brand identity.
- Increased Consumer Engagement: Warmer weather and longer days tend to boost consumer morale and spending. People are more inclined to explore new products and services, attend markets or promotional events, and generally engage more with businesses.
- Seasonal Business Opportunities: For businesses that are seasonal in nature (e.g., gardening, outdoor events, and leisure activities), launching in spring aligns perfectly with your market's active season, allowing you to capitalise on immediate demand.