Small Businesses


Starting your own business is exciting, but it should be remembered that many go under within a year. This should not put you off, but it should make you wary of committing common mistakes. Here are three points to bear in mind to ensure your business is one of those that thrive.

Keep the concept simple

The most successful companies identify a clear problem and provide a product or service that offers a solution anyone can grasp. If your business idea is extremely complex, it will be much harder to effectively market it so that the public understands what you do.

Market not product

A very common error among start-ups is to think that just because they believe they have a great product, the market will be there for it. Make sure that there’s a customer base out there for what you’re offering and look at claiming a smaller niche share of the chosen market.

Accept help

While it is your business, you don’t have to do everything yourself. Put together a team to support you and do tasks you struggle with – it could be a business partner to handle negotiating with clients, or professional accountancy services in Goole or wherever you live to manage your books. Alternatively, it could just mean help from family or friends.

Here at Adaptive Accountancy, we have been building our reputation among small businesses by word of mouth for a decade. If you’re setting up a small business, call us now to find out how we can help you.

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