Nothing is as easy as you expect it to be, and it’s no different in business. Before you can do one thing, you often find there are a number of hurdles to jump. Just to be able to open your doors in business there are so many things to consider and tackle- here are a few of them that often catch out small businesses and first time entrepreneurs.
Insurances and Legal Issues Can Trip You Up
You need a license for just about everything when you run a business. For example, if you have a shop or any kind of business that’s open to the public, you can’t put on the tv, radio or play music in the background without a license for it. To put up CCTV in a business you need a licence, to put an advertising board outside, or to put tables and chairs on the pavement- you guessed it, you need a license. There are SO many, and while they’re not difficult or usually expensive to get, if you miss something or refuse to apply for the license then you’re breaking the law. This can really land you in hot water, so it’s worth finding out ahead of time exactly what kinds of licenses you need and how much they are. Insurances are another thing, they might seem like an annoying cost but are absolutely vital. Make sure you’re covered, financially and legally- it’s something that can trip up first time business owners so make sure you’re prepared.
Advertising and Marketing is Everything
It’s easy to assume when it comes to business, all you need to do is have a good product or idea that people want. But it’s simply not the case, if you want to succeed you need to get your name out there. You need to establish yourself, promote and and ensure your company is reaching the right people. A marketing company or one offering SEO services can help you rank highly in search engine listings which will get you more organic traffic. It will help you to be more visible online, and stand out from your competition. Make sure you’re aware of how important marketing is, and know how much to budget for it.
Taking on Employees Can Be Tricky
It seems a natural progression that when your business starts to pick up pace, you hire extra employees to help with the workload. But taking on another person can be tricky. You have recruiting time and costs, writing the job ad, scouring CVs, conducting interviews and training the person. With multiple employees you have to be aware of things like workplace bullying and harassment. There are insurances you’ll need to protect employees, and in some cases it’s the law to provide them with a workplace pension. Do your research, it’s not as plain sailing as you might think.
Entrepreneurs, have any of these things ever caught you out?
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