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For a successful business, you need a viable business idea, the skills to make it work and the funding. Discover whether your idea has what it takes.

Forming your business correctly is essential to ensure you are protected and you comply with the rules. Learn how to set up your business.

It is likely you will need funding to start your business unless you have your own money. Discover some of the main sources of start up funding.

Businesses and individuals must account for and pay various taxes. Understand your tax obligations and how to file, account and pay any taxes you owe.

Businesses are required to comply with a wide range of business laws. We introduce the main rules and regulations you must comply with.

Learn why business planning is an essential exercise if your business is to start and grow successfully, attract funding or target new markets.

Marketing matters. It drives sales and helps promote your brand and products. Discover how to market your business and reach your target customers.

Some businesses need a high street location whilst others can be run from home. Understand the key factors from cost to location, size to security.

Your employees can your biggest asset. They can also be your biggest challenge. We explain how to recruitment and manage staff successfully.

It is likely your business could not function without some form of IT. Learn how to specify, buy, maintain and secure your business IT.

Few businesses manage the leap from start up to high-growth business. Learn what it takes to scale up and take your business to the next level.

Government scheme supports 105,000 start-ups

28 June 2017

Government scheme supports 105,000 start-upsThe latest Government statistics show that the New Enterprise Allowance has helped would-be entrepreneurs launch over 105,000 businesses.

The New Enterprise Allowance (NEA) is a fund aimed at helping jobseekers and those on income support to get a business idea off the ground. Financial support is paid as a weekly allowance of £65 a week for 13 weeks and then £33 for the following 13 weeks (a total of £1,274 over 26 weeks).

Successful applicants also get access to a business mentor and can apply for a loan of up to £25,000 to help with start-up costs.

More than 105,000 businesses have been launched with NEA support since the scheme began in 2010.

The NEA figures show that the North West had the highest number of start-ups (16,090), followed by London (12,870) and Yorkshire and Humberside (11,590).

The figures also show that of the individuals launching a business:

  • Over two-thirds were aged between 25 and 49;
  • 24% were over the age of 50;
  • 7% were aged between 18 and 24;
  • 40% are women;
  • 22% have a self-declared disability;
  • 13% are from a black and minority ethnic background.

Damian Hinds, minister for employment, said: "As these latest figures show, thousands of people across the country have great business ideas and are taking the steps to turn them into a reality. The NEA provides the right mix of expert, tailored advice and support to people of all backgrounds which can be invaluable in the early days of starting a company."

Sunderland-based Colin Young, 51, made use of the scheme to launch his business after being made redundant. The NEA helped him start North East Drone Services , a professional drone photography service. He said: "After working as a TV and photography technician for 13 years, I decided to invest in myself with the New Enterprise Allowance. I met with an adviser who not only helped me with my business plan, but also to plan for any pitfalls that I might not have considered."

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