Starting a business

The second of the Enterprise lectures I attended was one concerning creating your own business hosted by Nigel Gorski who is an accountant who has worked with many different lucrative companies in his time, in this lecture he would cover the hurdles and pitfalls of running your own business but also what benefits there are.

Before going into the main areas of his talk he explained that there was a business start up master class within the university to help those who were very serious about starting their own companies, this struck me as being an amazing idea within the constructs of the university because after graduating many of us just try to make it on our own but this master class could give many people the leg up that they need to succeed in their working lives.

Within any business you create you will usually take part in over 14 different job roles, within a business you create there are the ups and downs regarding your views to being your own boss and incorporating an interactive aspect of his talk, Nigel conversed with us to talk about the positives and also the negatives furthermore he got us to write down what companies we invisage ourselves creating and rank them in probability which helps map out what goal you have at the start of the talk so that you can create an image of your business and apply his talk to your business which was a ace idea.

50% of new businesses brakes within the first financial year, many of the problems that they face were outlined by Nigel and then solutions were explained of how to solve the problems and keep any business afloat. Nigel proposed an idea which he backed up with finding within his job, he stated that with the rise in fuel prices many shoppers are starting to go to more local shops to try and save on fuel and this then builds upon small local businesses and they start to turn in a lot better profit margins whereas the bigger corporations margins are declining.

One of the final and main talking point throughtout the whole talk was one of finance and how that is the lifeblood of any business, everything revolves around the comings and goings of your money.