Many students have start-up businesses that they’re trying to get off the ground. Although it may seem difficult, and at times financially impossible to expand your start up whilst studying, there are a few things you can do to help get your business off the ground and expand in its early stages. Here are the top 3 tips:
Get a car
By getting a car you’ll be much more mobile and this will make things like doing deliveries and drop offs much more efficient. Additionally, you’ll be able to broaden your horizons and take your business to different areas which will generate more custom. It’s important to make sure your car is safe and running well if you’re about to rely on it as a big part of your business so ensure that you keep up with regular vehicle inspections and services.
Although you might not be in a financial position to invest your every penny in the business, the government really want to help young people make their ideas a success. Research which grants and loans are available to help you and take advantage of everything on offer to start-ups while you can. Some schemes offer free rent on a property for 6 months if you’re wanting to trade goods, use the gov.uk finance finder to find out more. As a student you have no real commitments as of yet, so now is the time to take a leap of faith.
All the big companies do it to save money and gain knowledge and so can you. By hiring an intern or, if you can afford to, hiring another member of staff, you’ll be able to rapidly expand your business. There will certainly be other students who want to gain experience of how to run a business and they might have some great ideas to help you. It’s beneficial for them too as the experience will look boost their CV. Plus, they’ll be a great help with the essential admin which you might not be finding the time to keep up with.
Following these three top tips should enable you to expand your start-up significantly. Although running a car will cost you, the benefits should outweigh the expenditure. Researching the funding you’re entitled to is essential as it will definitely open up opportunities and hiring an intern will bring fresh ideas and free up some of your own time.