You don’t need investment to start a business. However, you do need money and, depending on the nature of the business, probably more than you think. Even the smallest start-up businesses need money for marketing and to buy the equipment.
All businesses, growing or not, should be actively looking at ways to attract new customers all the time. Those companies that ignore new business, believing that their established customer base is enough to keep the business ticking over nicely, will usually get a rude awakening.
This is arguably one of the toughest times to run a small business. The FSB this month published figures that suggest that nearly 5% of UK small companies expect to be forced to close within 12 months, the largest proportion in the history of the Small Business Index. If accurate it would mean that 295,000 companies will shut down this year. How can you be sure that you’re not part of this statistic?
