“But the economy is experiencing a downturn and there’s no way I can access any finance to start my own business”, you say. Agreed, but even with the recent unemployment figures for 16 – 24 year olds now standing at just over 1 million, there can be a light at the end of the tunnel. Now can be the opportune time for you to set up your own business…
Did you know that there are many young UK entrepreneurs who have decided to take the bull by the horns and to exploit the recession to achieve their own success? This is proof alone that it can be done. With some hard work, determination, guidance and support are you prepared to turn your business idea into reality right now?
Be inspired to step out of the cycle of continual job applications (and rejections) and the no replies to your endless emails as you search for employment. Be encouraged by what you can do not by what you are doing.
Here are 12 things you can do to start your own business during a recession:
- Be motivated by the current economic climate to drive your business idea forward.
- Access as much free start-up business advice as you can. Business Link and Start Up Britain offer excellent online advice, together with your local business enterprise schemes.
- Get off your backside, get out there and start connecting with people (face to face). How will you learn, develop and succeed without surrounding yourself with people who have achieved success and who are willing to help you too.
- Develop your key skills areas. Keep learning to stay up to date with changes so you can best position yourself with your target clients.
- Make work a habit. Get off the computer, turn off the TV and go to work. Volunteer for charity work, freelance or take a part-time job. Get used to the routine of work.
- Broaden your horizon for opportunities and be prepared to travel for work.
- Develop a portfolio career/lifestyle to promote your key strengths to suit your growing client base. This approach best suits an individual who enjoys the challenge of diversity and flexibility.
- Source a mentor who will challenge, inspire and motivate you. Utilise their business knowledge to define and focus on the how, the why and the when for your business.
- Learn all you can about business and enterprise. Attend free events, seminars and workshops to sharpen and master your skills.
- Face your fear and say “Nothing is impossible”. Believe in yourself, your vision and what you desire to achieve. Then go out and make it happen.
- Be bold and think big. Set yourself a target and take the necessary steps to achieve it.
- Work hard. If it means working weekends and late nights in the beginning, you need to do it. Build your foundation with a positive attitude and you will reap the rewards of your success.
Motivational Speaker, Coach, Trainer, Business Writer & Author of “Making Connections”