Everyone who leaves the security of their job to venture forth into the business world does so believing sufficiently in themselves and their new venture to take the plunge. In short they believe that they will succeed. The sad reality is many of these courageous adventurers will meet an untimely end! In this turbulent climate 160 businesses a day are closing their doors. However even during the boom times some 95% of businesses closed their doors within a five-year period of which some 60% succumbed in the first year.
Franklin Waugh, in association with the Entrepreneurial Club in London, has been compiling a report for the Department of Business Innovation and Skills for the last eight months. The purpose of the report is to provide an in-depth view of the state of small business in the UK, and on the back of this to offer a solution to the level of small business failure.
We are recommending that government puts its time money and effort into an adequate and comprehensive process for emerging start-ups. We call this provision the pre-start-up (PSU) process. We need to help people who want to start a business get the best possible start. This means having access to the right support, right funding, right knowledge, right relationships, and ensuring they conduct the necessary due diligence for the success of their business.
We are presently conducting surveys with people interested in starting a business within the next 5 years. By becoming a respondent you could benefit from a pre-start-up program. You will also be placed on the pre-start-up funding register which will facilitate the drawdown of funding for your future business venture. We will shortly be doing a series of talks on the pre-start-up point of view as well as the opportunities that go along with it. If you have conducted a survey and you are on the funding register you will be invited to these events. We would love to meet you.
Don’t jump ship until your ship is ready -- completely ready! If there’s a part of you -- and there should be, that’s daunted about going out on your own then you probably have reason to be. Don’t ignore these messages. The question is what is it that you don't know you don't know?
We have met thousands of small business owners and found it’s almost impossible to turn back to the shore in order to start again. The reason? Most run out of energy, passion, money, belief and love for what they do. Don't be in that position a few years from now. Make sure you invest the time money and effort up front in order to ensure your success. A little wisdom will go a long way.
Paul Waugh
Franklinwaugh
To apply to be on the funding register and start your ship building journey, please click here:
http://www.surveymonkey.com/s.aspx?sm=1pscu5AHRe3XCzea_2fMQbXw_3d_3d
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