Chapter 1
Preparing for Business
IN THIS CHAPTER
Working up to opening up
Measuring your business’s viability
Exploring options for help (and there are plenty of them)
Considering an incubator
Finding organisations that can assist inventors
When you’re starting a business, particularly your first business, you need to carry out the same level of preparation as you would for crossing the Gobi Desert or exploring the jungles of South America. You’re entering hostile territory.
Since the last edition of this book, just shy of two million UK businesses have closed down. Many were in their first year or two of trading, always the most dangerous period. And when the going gets tough, as it surely did during the Covid-19 pandemic, even well-established businesses including Joules, Paperchase, Jaeger, Oddbins and Debenhams, can stumble. Even deep wallets may not save you. Bulb, the Green Energy supplier, gave up the ghost in September 2021, despite having taken in £65.3m from investors over ...
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