Setting Up Your Small Business: Tips for 2023

Many people have small business ideas, but not everyone sets a business up. It's not surprising really, as the business world is facing increasing pressure, with the Bank of England warning that the

10 Tips for a successful small business in 2023

1. Have a clear vision of your business idea

Every new business starts with a business idea.

Are you going to sell a product or provide a service? What will your price point be? You need to be extremely clear with what you are going to sell or provide.

However, the key thing when starting your own business in these challenging economic times, is that you choose something which you truly believe has a high chance of succeeding.

2. Research the competition

When you have figured out your target audience, research your competition to find out what other businesses are doing well and not so well. This will help you narrow your focus on what makes your business unique and how to best position it in the market.

3. Identify the type of business you want to have

There are many types of business structures such as sole traders, limited companies and partnerships.

When you're thinking about setting up a small business, consider whether you want to completely start on your own, or whether you want to be part of a franchise. Doing the latter means that you can build upon the success of an existing brand, rather than completely starting a business from scratch.

4. Figure out if you need premises or not

Not every business needs to have a physical presence, as some only need an online store.

However, this is an extremely important factor, as it will massively impact your set up costs dependant on whether you need to pay for an office or retail space, or whether you just need a website built.

Decide if you need employees

Will you initially be the only person working in your business or will you need to take on employees or subcontractors? Hiring staff involves a lot of compliance work, so make sure you allow enough time and money for this.

6. Set goals and objectives for your own business

Think about the bigger picture of your business with a business plan.

Speak to a professional to get help on how to set your goals and objectives so that they are specific, realistic, time-bound, measurable and achievable.

7. Create a marketing plan to promote your small business idea

Figure out where your ideal customers are and what platforms they use, then create a clear marketing plan of how to attract them.

Think about how you will market your small business to attract these customers, utilising social media and digital marketing methods where appropriate. Take a look at an online course such as from Google, to help you get started.

8. Stay on top of your finances

This might seem like a no-brainer, but it's important to keep careful track of your finances, especially when starting a new business.

Knowing where your money is going and where it's coming from will help you make smart decisions about spending and ensure that your business is on solid financial footing.

Think about being cost-effective whilst making sure your business is set up for the best chance of success. Consider which areas of your business you can outsource and which you need to keep in-house. For example, do you want to be doing your own marketing and bookkeeping, or do you want professionals to help you?

9. Make sure you're complying with all regulations

Depending on the type of business you're starting, there will be certain regulations you need to comply with. Make sure you're up to date on all the latest regulations so that you can avoid any potential penalties or fines down the road.

Speak to an accountant from the beginning about wanting to set up a small business, so that you can ensure your business is on the path to success from the get-go. They will be able to advise you on things such as whether you need a business bank account, how to set your company up, what taxes you need to pay and more.

10. Be organised and constantly adapt

As we all know, our world is ever-changing, and many businesses will go through highs and lows throughout their time of operation.

Starting a business is a big achievement but there is a lot of hard work and juggling multiple things involved, so it's key that you stay as organised as possible to help manage this. Likewise, an important part of any business owner's skill set is to be able to quickly adapt to change. The more organised you are, the easier it'll be for you to respond and deal with change.

Consider opening a franchise

If you're thinking about starting a business, then why not consider being a franchisee?

Becoming a franchisee is a low risk option for having a business, which is particularly beneficial during these tough economic times.

Opening a franchise can set you up for success, as you will have the safety of being backed by a business that is already established. 

Benefits of becoming a franchisee

• Lower risk way to be self-employed
• Gain independence and autonomy
• Receive support and training
• Run a business with an already established brand name

Set up a successful business with Jani-King

If you want a successful business in 2023, then why not be a commercial cleaning franchisee of Jani-King? We have over 9000 franchisees in more than 14 countries.

At Jani-King, we provide commercial cleaning franchise opportunities as a low risk option for people to become self-employed. Wondering is it worth starting a cleaning business uk? Well, cleaning is an in-demand industry, meaning that you would have a business that should remain stable throughout an economically difficult time, such as a recession.

Another benefit of being a franchisee of Jani-King, is that we deliver a guaranteed business promise to our franchisees. This means that we would give you a pre-agreed number of monthly cleaning clients to give you the financial security of having business come in, whilst you focus on attracting customers.

Also, being a Jani-King franchisee, means that you have the flexibility to work the hours that suit you and are given the tools and techniques to excel at the job without needing to engage in any qualifications.

If you want a low risk way of having a business then get in contact with us today to find out more about how you can be a part of Jani-King's franchise cleaning business.

I’ve updated this section to focus on positives & rejigged/removed some wording so the keyword was still in the first 100 words