Business start up costs? Did you recieve any help?

[8889jenny]

Hi there

I was just wondering if any of you could give me some advice on how you all managed to pay for start up costs on your new business. Did you recieve any kind of help from the government? Did you save? How is your business doing now and how long did it take you to gain any kind of profit? Also if the business isn't doing as well as you thought then how do you manage with every day costs?

Sorry for all the questions at the moment I am at the stage of gathering information as I am thinking about renting a room in a salon.

Your help and stories would really be a great help to me

Jen xx

 

[Prettyinpink85]

I have worked hard and saved to set my own business up, I got no help from the govenment and didn't want to pay back a huge loan didn't want it hanging over me, so worked the long hours and now have enough money nearly just taking out a £500 loan to cover last min expenses.

Hi there

I was just wondering if any of you could give me some advice on how you all managed to pay for start up costs on your new business. Did you recieve any kind of help from the government? Did you save? How is your business doing now and how long did it take you to gain any kind of profit? Also if the business isn't doing as well as you thought then how do you manage with every day costs?

Sorry for all the questions at the moment I am at the stage of gathering information as I am thinking about renting a room in a salon.

Your help and stories would really be a great help to me

Jen xx

 

[Blackjack]

Business Link used to give grants but unfortunatley they changed the grant system to those that produce only so that is a no no.
The Princes Trust give grants/loans and business assistance to those starting out in a new business venture.
On a training front contact train to gain they will give you half the money towards training up to the value of £200 !
Every Little Helps Hun Jo xx

 

[Purelynailz]

Business Link used to give grants but unfortunatley they changed the grant system to those that produce only so that is a no no.
The Princes Trust give grants/loans and business assistance to those starting out in a new business venture.
On a training front contact train to gain they will give you half the money towards training up to the value of £200 !
Every Little Helps Hun Jo xx

I rang and spoke to someone from train to gain a few months ago now asking about help for training and i was told NO , because i was a sole trader and they only helped people with employees , i will have to ring agian and ask as it must of changed .

 

[Northern Nails]

Didn't know that about business link. Shame really, they helped me alot with their advice. I work mobile only and find advertising to be the most expensive other outlays are pretty small.

the best advice i can give you is be professional in both your manner and your work. Try and get the best training that your budget will allow and keep ontop of your accounts this way you know as soon as things turn difficult you can act on it. Remain positive and confident in your abilites and don't let people take you for a ride because believe me they wil try.

concentrate on your own business and try not to slate other businesses as i feel this may only reflect poorly on you.

Remember the customer isn't always right but try to make them feel as if they are!!

 

[8889jenny]

Thank you for all your replies. They have really helped me. It's just so confusing trying to find abit of help. I've starting collecting my stock so that's a start! LOL It would be nice to recieve abit of help. I feel as though I've worked and saved so hard, and the thought of things not working our terrifies the life out of me! But then again if you don't try you'll never know! xx

 

[xAnnaBannAx]

Thank you for all your replies. They have really helped me. It's just so confusing trying to find abit of help. I've starting collecting my stock so that's a start! LOL It would be nice to recieve abit of help. I feel as though I've worked and saved so hard, and the thought of things not working our terrifies the life out of me! But then again if you don't try you'll never know! xx

It may be worth contacting the job centre and asking their advice...they will know if anyone can help you.

 

[8889jenny]

Thank you for your replies, I think I'll give the job centre a ring today to see if they can help at all. I'll let you know what they say. I've already tried Business Link and they have said that I will have to go and have a meeting with someone. I can't wait to start up. I've been thinking about it for over a year now. Just need to do abit of research I think! Thanks so much for all your help. xx

 

[VHunter]

For me, startup costs were covered by my credit card which used to be at zero balance:lol:
I started small with the basics, building a bit at a time. Keeping in mind, I'm working from home with no rent and only in the evenings. ALL profit went right back into my business.

Now we are ummmmmm - is it 3 or 4? - years later..
I have a full book and a good name around here.
I'm seeing actual 'profit' that I can use to spend on me (aka my wedding and my car ROFL) and enjoying life.
It was a struggle.

BUT I am considering seeking out some grants and such from the government to build an add-on to my house for a seperate 'location' for my business and intend to hire on a junior tech and further my education as well (aiming for my master's at some point)
(there are grants available for 'women' entrepeneurs, especially if I hire someone, thereby creating local employment)

I will be adding hours to my book soon, and will be able to start another advert campaign after the wedding....

the first 2yrs were ROUGH as I'm not visible and it's mostly by word of mouth. I use a loyalty rewards program, gifting client's with free services for referrals booked.

You will be broke for a while, but with determination, it all works out in the end.
:hug:

 

[fairynice]

i'm in the process of setting myself up in business too.
there are lots of places you can go and get financial help, but 1st and formost you need a business plan.
there are places that give start up loans for women, princes trust up until your 31st b'day etc.
if you message me with your e mail i can give you some more details.
good luck
anna:hug: