Has anyone ever started up their own business?

Lew

Lew

Lew

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Joined
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Location
East Sussex
If so what kind of business did you start? How did you get it set up financially?
Are you still running it? Is it successful ?

I have always wanted to run/own my own bar was after a bit of information.
Found Princes trust quite good.
 
I started my own business a while back, its still going strong and I have employed 2 extra people in the last year. I financed it with redundancy money that I got paid from a previous job plus some of my own savings.

In terms of what area to work in, its a case of what do you enjoy? what are you qualified to do, or what are you competent enough at to make your career.

An invaluable resource was (and still is) my local business manager at my bank, it might be worth making an appointment with someone near you to discuss things with. He helped me keep my finances in check, new what the best areas to get yourself known and lifted the local profile of my business.
 
Depends what you set up. I was self employed fixing computers for a number of years. That didn't take any capital at all, just set up some advertising in shop windows, leaflets and Yellow Pages and off it went. Worked really well for a number of years but eventually I lost interest and got fed up chasing new business when the Yellow Pages started letting me down. Gave it up last year and went back to employment but landed a good role plus my business experience always comes in handy, even if it is only to understand why stuff costs as much as it does :D
 
Lew said:
If so what kind of business did you start? How did you get it set up financially?
Are you still running it? Is it successful ?

I have always wanted to run/own my own bar was after a bit of information.
Found Princes trust quite good.
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Do you know why you want to run your own business? I know it sounds cool but the reality is something else. It's damn hard work.

If you want to eventually run your own bar one day then see it as a 20 year plan to do so. First of all, work the bar and get experience. Take book keeping and business management courses at your local college in your spare time and work towards supervisory / management positions. Eventually, with enough experience and money that you've saved you'll be in a position to look at renting space for bars / restaurants, setting up and operating your own.

Again, running a business is damn hard work but all the very best in giving it a go. Better to try and fail, than not try at all. You never know, you may succeed. Good luck.
 
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When the Victoria Ground was still standing I used to have a car minding business. £1 to mind yer car for the entire match, made a good £30 on somedays and no start up fees too. Not bad for an 10 year old back in the early 80's! :D

Then again, I guess that's not the sort of business you meant. :p
 
OoOverclockaoO said:
I'm looking to start up by myself at the moment, problem is , realistically I will need about £100k and I doubt I'd be able to get that much as a start up loan :p
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There's business angels and venture capitalists who would invest if the idea was sound.
 
gurdas runs a business sending text messages about nightclubs and handing out flyers, he started it whilst he was at uni and it's doing quite well. He'll be along soon :)
 
Lew said:
That would be HCAT I see your in Hastings I live in Bexhill.
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I would always recommend HCAT over Bexhill but primarily because I lecture at HCAT and University Centre Hastings on the Foundation Business Degree.
 
Im 18 at 6th form and currently run my own online business selling a certain Nintendo DS accessories which i import from china. The initial start up cost for me was very low only 1000 pounds and after the first stock of 50 i was self reliant with funds and making 500 pounds a week profit on average. However this can fluctuate between 300 a week to 1000 a week depending on sales. I am looking into a new business opportunity which could be very successful and hopefully i can even sell it thought good old overclockers if i could get in touch with gibbo about the product. :)
 
sanaxe1 said:
Im 18 at 6th form and currently run my own online business selling a certain Nintendo DS accessories which i import from china. The initial start up cost for me was very low only 1000 pounds and after the first stock of 50 i was self reliant with funds and making 500 pounds a week profit on average. However this can fluctuate between 300 a week to 1000 a week depending on sales. I am looking into a new business opportunity which could be very successful and hopefully i can even sell it thought good old overclockers if i could get in touch with gibbo about the product. :)
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R4 by any chance?
 
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