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Category: Starting in Business

Top five tips to make your business dream a reality

It’s no secret that starting your own business is a tough and generally takes time. There is a high rate of failure when starting up your own business. Fund Squire reports that in 2019, 20 per cent of businesses failed in their first year, and a staggering 60 per cent failed within the first three years.
Before you become another business statistic, here are top five tips to consider when looking at making your business dreams come true.

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The intricacies of business funding: thoughts from a seasoned accountant

No one likes to talk about money when it comes to starting a business, but it’s the elephant in the room because you need money to make money. Finding investors is one approach, while others need to apply for a business loan. Funding your business is like putting the right kind of fertiliser around a tree when you plant it, it builds strength and resilience so that the first obstacle doesn’t defeat the business. With uncertainty in business in the wake of COVID and the subsequent lockdowns, having sturdy financial backing is even more important than ever before. 

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Can you have a franchise as a side hustle? 5 things to think about

Once upon a time, choosing a franchise as a business meant you had to be fully committed to the day-to-day operations otherwise it wasn’t worth buying one. This is no longer the case though and, with the ‘side hustle’ movement growing in popularity, a lot of business owners are investing in a franchise that they don’t need to commit to full time, allowing them to either keep their main career or run other businesses in tandem.

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