Setting up a business involves a few important steps. Taking the time to plan and research your idea can help increase your chances of success. 1. Develop your business idea Think about: what product or service you want to offer who your customers will be what makes your business different from competitors whether there is demand for your idea. 2. Write a business plan A business plan helps you organise your ideas and plan how your business will operate. It usually includes: your business goals market research marketing strategy financial forecasts start-up costs and funding.   3. Choose a business structure Most new businesses start as either: Sole trader – running the business yourself Partnership – running the business with one or more partners Limited company – a separate legal entity from you. You can find guidance on choosing the right structure on the GOV.UK website. 4. Register your business You may need to: register as self-employed with HMRC register a limited company with Companies House set up business banking and tax records.   5. Understand finances and funding Starting a business may require investment. Some options include: personal savings start-up loans grants and funding programmes support from banks and business organisations.

If you’re based in Plymouth, there are local organisations that can help you develop your idea, build your business skills and connect with the local business community. Plymouth City Council – Business Support Information about local business support programmes, funding opportunities and enterprise support. Business support and advice | PLYMOUTH.GOV.UK Devon and Plymouth Chamber of Commerce Provides networking opportunities, business advice and support for local companies. https://www.devonchamber.co.uk/ Access the Plymouth Enterprise Hub Get your business journey started today and discover the support available to help your business thrive in Plymouth through the FREE Plymouth Enterprise Hub - Plymouth Enterprise Hub | Free business support | Enterprise Nation Support available includes: expert advice and support from local trusted advisors access to small business events, from free daily webinars to flagship festivals and expert speakers an active community of over 100,000 business owners and advisors a personalised dashboard - so everything you need to plan for success is in one easy-to-find place. All you need to be eligible for this hub is to live in Plymouth or have a business based in Plymouth University of Plymouth Enterprise Support Support for students, graduates and entrepreneurs looking to start or grow a business. https://www.plymouth.ac.uk/ Devon Growth Hub The Devon Growth Hub provides free advice for businesses and start-ups across the region. Their advisors can help with: business planning funding opportunities scaling and growth strategies connecting with local support programmes. https://www.devon.gov.uk/business-support/ Plymouth Science Park Plymouth Science Park supports innovation, technology and knowledge-based businesses and provides workspace, mentoring and collaboration opportunities. https://www.plymouthsciencepark.com/ Real Ideas Organisation Real Ideas supports social enterprises, entrepreneurs and creative businesses through training programmes, workspaces and business development support. https://realideas.org/ Ocean Studios Ocean Studios supports creative businesses and entrepreneurs, offering studio space, events and business development opportunities within Plymouth’s growing creative sector. https://www.oceanstudios.org.uk/

Plymouth City Council advice Plymouth’s Business Parks, Science Park and office space This includes the City Business Park and the Business Centre. The Formation Zone at the University of Plymouth and the Plymouth Science Park provides workspace and laboratories for the creative and STEM sectors (science, technology, engineering and mathematics), supporting new and growing knowledge-based companies. Plymouth Social Enterprise Network Plymouth is a hot-spot for social enterprise activity in the UK and is developing as a global ‘social enterprise city’. If you are thinking about starting a Social Enterprise in Plymouth make contact for funding advice and business planning support. Devon and Plymouth Chamber of Commerce Heart of the South West Growth Hub King's Trust Enterprise Support if you’re self-employed or run a business for those aged 18-30 Government advice – Working for yourself If you already work for yourself and have been negatively impacted by Covid-19 then there are national and local organisations offering guidance and support to help get you through these difficult times including: Business Debt line - gives advice about dealing with business debts Support for Employers from Jobcentre Plus Crowdfunder Crowdfunding is a different way to raise money for good ideas. People are increasingly bypassing more traditional funding routes such as bank loans or grants and turning instead to the people around them and in their community to support their venture. It's been around for centuries but the internet makes it possible to reach much bigger audiences than before. Crowdfunder - Guidance and support for crowdfunding projects Crowdfunder - webinars Crowdfunder - £250 for creative and digital ideas in the South West Crowdfunder - £180,000 available in match funding to support great ideas in Plymouth

There are many trusted national websites that provide free guidance and tools for starting a business: GOV.UK – Starting a Business Official government guidance on registering a business, tax responsibilities and legal requirements. https://www.gov.uk/set-up-business Start Up Loans (British Business Bank) Government-backed loans and mentoring for new businesses. https://www.startuploans.co.uk/ Small Business Britain Advice and support for small businesses and entrepreneurs. https://smallbusinessbritain.uk/

Many organisations offer free training, mentoring and online resources to help new entrepreneurs develop their business skills. Barclays Eagle Labs Barclays Eagle Labs provides free support for entrepreneurs and start-ups, including: business mentoring workshops and training networking opportunities support with funding and growth. Find out more: https://labs.uk.barclays/ NatWest Business Builder NatWest offers a free online business support programme designed to help people start, run and grow a business. You can access: step-by-step business guidance expert webinars and workshops business planning tools networking opportunities Find out more: https://www.natwestbusinessbuilder.com/ Google Digital Garage Google Digital Garage offers free courses to help entrepreneurs build digital and marketing skills to grow their business. Topics include: digital marketing social media strategy data and analytics productivity and business tools Visit: https://learndigital.withgoogle.com/digitalgarage

If you are claiming benefits (e.g. Universal Credit, Jobseeker’s Allowance) and considering becoming self-employed or starting your own business, Jobcentre Plus offers tailored support through specialist Work Coaches. These advisors have expertise in self-employment and can help you explore whether running your own business is the right option for you. Self-employment Work Coaches can support you with: understanding what’s involved in starting a business developing and refining your business idea creating a business plan accessing training and workshops identifying funding opportunities or financial support navigating benefits while becoming self-employed. They can also refer you to additional programmes and organisations that provide in-depth enterprise support, mentoring and start-up funding. If you are interested in self-employment, speak to your Jobcentre Plus Work Coach. They can connect you with a specialist advisor and ensure you receive the guidance and support needed to take your next steps with confidence.

Call the National Careers Service on 0800 100 900 for help to identify skills that could be useful in a range of different roles. Seetec Pluss has a dedicated self-employment team that tailors support to the individual and their business goal. Your Self-Employment Advisor will guide you through the legal and financial requirements of going self-employed, work on the development of your brand and marketing plan, and encourage a clear understanding of your audience and where you want your business to go. Seetec Pluss also offers specialist support for people with a learning disability, Autism and for people trying to overcome life's additional barriers - from support with mental health, health and wellbeing to housing, benefits or debt.

Start small and test your idea first. Speak to other business owners and mentors. Keep track of your finances and business records. Use free training and networking opportunities. Build an online presence through social media and websites.

Make sure you feel ready to get back out there – check out the support available if you are feeling anxious, confused, lost or overwhelmed Make an informed choice locally. Find out about Plymouth’s current employment pictureand learn about our industry sectors which are growing fast creating new job opportunities now and in the future Get your own free impartial 1-1 Careers and Skills Plan with National Careers Service Develop yourself through further study and training opportunities