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What you need to know to start a business in 2020

New decade, new business? If 2020 is the year that you take the plunge and dive into the world of business, you are going to need to know what to expect. Here is our four-step guide to getting your venture off the ground.

Don’t be put off by Brexit

Britain is currently 8th in the world when it comes to the ease of starting a business according to the World Bank. That is good news for entrepreneurs however so many are distracted by the small matter of Brexit. Leaving the European Union will undoubtedly bring uncertainty for business owners, however there is also a lot to be excited about. Don’t let Brexit put you off launching your business.

Create a digital marketing plan

Customers want to move their money, make their purchases and manage their business online, which means that you need to do the same. Digital marketing has gone way deeper than simply having a website and a Facebook page. You need an informative, interactive web space and a strong social media presence with relevant content. Most new business owners don’t have the time to develop their own marketing strategy, let alone a digital one, so invest in an agency that knows your industry and let the experts handle it.

Keep your head in the Cloud

Software and Software as a Service (SaaS) is often the way forward for entrepreneurs because they can get a bespoke service without purchasing software. This can be especially useful if your business is likely to grow and develop over the coming years, as you will be able to continually tweak your provision and tailor it to your needs.

Protect your business investments

As a new SME, you may well have investors lined up, and they are going to want to know how you intend to protect their investment. Even if you don’t have investors, knowing what to do in a business emergency is vital in order to survive. Ringfencing fund and insurance policies is a must, but in addition you should draw up a robust Disaster Recovery Programme. This will protect online elements of your operation so that should your technology fail you can still function day to day. We recommend that you go one step further and invest in SaaS escrow to protect your software access should your host or provider go in to administration.

 

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