Business Start-Up Programme

1
Welcome
to the
Business Start-Up Programme Workshop 1
The Essentials
2
St Helens Chamber

• St Helens Chambers mission is to support our
  members and enhance the economic success of St
  Helens businesses and people
• We are an independent, non-governmental
  organisation providing confidential and impartial
  advice to new and existing businesses.

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Support for your business
Business Start-Up
A Business Adviser
Business Planning
Business Training
Access To Finance
EKS Support Services
Premises
Systems
Health Safety
Supply Chain
Property Information
4
EKS Business Start-up
The Essentials
Start-up Workshops
On-going Support
Business Plan
Action Plan
Why start a business?
The Essentials Marketing/Trading
Standards Finance Business Planning/Banking Bookke
eping/VAT Tax NI
Is my idea viable?
Will people buy from me?
Staying in control
Legal Issues
One to One Advice With An Accredited Business
Adviser
Funding
5
Why start a business?
The Essentials
Start-up Workshops
Action Plan
On-going Support
Business Plan
Why start a business?
More Money ?
More Control ?
Unemployed ?
Is my idea viable?

Will people buy from me?
Staying in control
A Good Idea ?
Better Lifestyle ?
Legal Issues
Returning to work ?
Funding
6
Is my idea Viable?
The Essentials
Start-up Workshops
Action Plan
On-going Support
Business Plan
Why start a business?

• Step 1
• Understand Profit Loss and budgets

Is my idea viable?

• Step 2
• Decide your profit target
• Calculate sales needed to meet your profit
  target
• Calculate number of customers/orders needed to
  meet your sales target
• Check viability

Will people buy from me?
Staying in control
Legal Issues
Funding
7
Is my idea viable? Profit Loss
Sales
Less
Costs

Target Profit ()
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Is my idea viable?
Sales
Less Variable Costs (Materials Labour)
Gross Profit
Less Fixed Costs Salaries Wages Premises Market
ing Vehicle Costs Accountancy Fees Telephone Post
Stationery Financials
Net Profit/Loss
9
Is my idea viable?
Sales
Less Variable Costs (Materials Labour)
Gross Profit
Less Fixed Costs Salaries Wages Premises Market
ing Vehicle Costs Accountancy Fees Telephone Post
Stationery Financials
Break Even
Net Profit/Loss
10
Is my idea viable?
Sales
Monthly Sales Forecast
1
12
Less Variable Costs (Materials Labour)
Gross Profit
Less Fixed Costs Salaries Wages Premises Market
ing Vehicle Costs Accountancy Fees Telephone Post
Stationery Financials
Budget
Profit Loss
Net Profit/Loss
Cash Flow
11
Is my idea viable?
Sales
Marketing
Less Variable Costs (Materials Labour)
Gross Profit
Less Fixed Costs Salaries Wages Premises Market
ing Vehicle Costs Accountancy Fees Telephone Post
Stationery Financials
Break Even
Net Profit/Loss
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The Essentials
Start-up Workshops
Action Plan
On-going Support
Business Plan
Why start a business?
Is my idea viable?

• The Four Ps of Marketing
• Product service
• Place in the market
• Price
• Promotion

Will people buy from me?
Staying in control
Legal Issues
Funding
13
The Essentials
Start-up Workshops
Action Plan
On-going Support
Business Plan

• Product service
• Branding
• Functionality
• Styling
• Quality
• Safety
• Packaging
• Repairs and support
• Warranty
• Accessories and services

Why start a business?
Is my idea viable?
Will people buy from me?
Staying in control
Legal Issues
Funding
14
The Essentials
Start-up Workshops
Action Plan
On-going Support
Business Plan
Why start a business?

• Place in the market
• Distribution channels/Centres
• Market coverage
• Inventory management
• Warehousing
• Order processing
• Transportation

Is my idea viable?
Will people buy from me?
Staying in control
Legal Issues
Funding
15
The Essentials
Start-up Workshops
Action Plan
On-going Support
Business Plan
Why start a business?

• Price
• What will you charge?
• Suggested retail price
• Volume discounts/ wholesale pricing
• Cash/early payment discount
• Seasonal pricing
• Bundling
• Price flexibility

Is my idea viable?
Will people buy from me?
Staying in control
Legal Issues
Funding
16
The Essentials
Start-up Workshops
Action Plan
On-going Support
Business Plan

• Promotion
• How will I promote my business?
• How will I keep my customers?
• Advertising
• Personal selling sales force
• Sales promotions
• Public relations publicity
• Communications budget

Why start a business?
Is my idea viable?
Will people buy from me?
Staying in control
Legal Issues
Funding
17
The Essentials
Start-up Workshops
Action Plan
On-going Support
Business Plan
Why start a business?
Is my idea viable?

• Performance management
• What business performance information should I
  measure?
• How should I collect the information
• Who should be responsible for reporting the
  information?

Will people buy from me?
Staying in control
Legal Issues
Funding
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Management Control
Function
KPIs
Request For Quotation (RFQs)

• No. of RFQs/month
• Conversion rates.
• Cost of acquisition

Estimate/Quotation
Sales Marketing
Receipt of Order
Plan Execute Work

• Delivery
• Quality
• Cost

Operations
Deliver To Client
Invoice

• Financial reporting.
• Credit control

Finance Admin
Receive Payment
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Key Management Control Skills

• Business Skills
• Time Management
• People Management
• Attitude

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The Essentials
Start-up Workshops
Action Plan
On-going Support
Business Plan
Why start a business?

• Insurance
• Public liability
• Employee liability
• Professional indemnity
• Record Keeping
• All financial transactions
• Health safety
• Employee files
• Business Bank Account
• Trading Status
• Sole-trader/partnership
• Limited Company

Is my idea viable?
Will people buy from me?
Staying in control
Legal Issues
Funding
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Legal Issues Legal Status
Directors/ Shareholders
Sole-trader/ Partnership
Limited Company
Liability
Asset Value
Liabilities
Assets
Tax
Self Assessment
PAYE
NI
Class 2 4
Class 1
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The Essentials
Start-up Workshops
Action Plan
On-going Support
Business Plan
Why start a business?

• Sources of funding
• Own money

Is my idea viable?
Will people buy from me?

• Bank loan overdraft

Staying in control

• Family friends

• Grants/Loans

Legal Issues
Funding
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Workshop Links
The Essentials Why start a business? Viability
assessment Marketing Management control
Legal issues Funding

• Business Planning
• Front Page
• Executive Summary
• The Business
• Market
• Operations
• Finance
• SWOT Analysis
• Action Plan

Marketing Product service Place
Price Promotion
Finance Profit Loss Cash flow Balance sheet
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Things to do

1. Think carefully about your business idea, it is
   viable?
2. Why do you want to start a business?
3. Where do you want it to be in three years time?
4. Be realistic about your goals.
5. Speak to other people whove started their own
   business
6. Be careful when talking to your friends and
   family about your idea they may be biased
7. Get professional advice before making any
   important business decisions
8. Make time to do your market research. Its
   critical to your business success.
9. Assess your skills and think about getting some
   training to increase your business know-how

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Keep in touch!
Keep in touch with each other, chat and network
on Linked in. www.linkedin.com Join the Business
Start Up Group and then join The Workshop
Group subgroup to keep in touch!
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The Essentials
Start-up Workshops
Action Plan
On-going Support
Business Plan
Why start a business?

• Action List
• Attend Workshops
• Complete Viability Assessment
• Income needs
• Overheads (Running costs)
• Number of customers available

Is my idea viable?
Will people buy from me?
Staying in control
Legal Issues
Take Professional Advice Call St Helens Chamber
Business Start Team on 01744 742000
Funding
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Chamber Membership Benefits

• Discounted fee 45 for first 2 years (140 Full
  price)
• Employment advice and forms
• Health Safety Website and Helpline
• Legal Expenses Insurance Cover and Advice
• AA Vehicle/Fleet Assistance Breakdown Cover
• Networking
• St Helens Business Directory
• Up to 50 off Chamber Services
• Inter-member discounts
• Web Directory
• Use of Exclusive Members Logo

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Thanks for listening
The Entrepreneur Kick Start Business Start-Up
Programme