START YOUR OWN BUSINESS

ABOVE: It's easy to start your own business if you know where to turn

16th October 2009

THERE’S no shortage of organisations that can help if you are planning on starting your own business.

Your first stop should be the Prince’s Trust (www.princes-trust.org.uk) which offers a variety of support to young entrepreneurs, including mentoring, grants and low-cost loans.

The Trust is even rolling out a new business programme across England and Wales to help young people decide whether self-employment is right for them.

It includes a four-day course covering topics such as record keeping and marketing.

Nina Prosser, a programme executive, says the scheme illustrates the realities of working for yourself.

“In the current climate young people need more support than ever to move into self-employment.”

Other sources of help include your local business link, at www.businesslink.gov.uk.

Advisers will be able to discuss issues such as the best way to set up your business and the legal requirements.

Don’t automatically go to the bank to fund your venture, but see what you can raise from a combination of your own savings and help from family and friends, suggests Emma Jones at Enterprise Nation.

“Mums and dads are becoming the new venture capitalists by providing their young entrepreneurs with free business space in their homes and services such as food, and access to telephones and internet connections,” she explains.