Help For A Complete Beginner

[Alexander41188]

Hi there,

About 6 months ago I started up my own business doing aquarium and pond maintenance and set up. This has done reasonably well but I want to expand further. I want to open up my own aquatic shop with the aquarium and pond service inclusive. We would sell tropical, marine, cold water and pond fish. Tanks, Premoulded ponds, aquarium stands, fish food, aquatic tools, all the kind of stuff you would expect from an aquatic centre. The problem I have is with the start up cost and as I am new at this I need some general business advice.

Firstly the start up cost. Can anyone recommend a good bank to get a business loan? Are there any grants of any sort available? Any advice like this would be appreciated.

Secondly general business advice. The beginners stuff! What steps should I take? Literally any advice you have with small businesses would be incredibly helpful.

I would really really appreciate the help!
Thank you very much,
Alex

[benstege]

Hi Alex,

First of all, well done for taking the plunge ;-) I would recommend Business Gateway as the starting point. Speak to one of their advisors and check out their very good website. Business Gateway might also be able to help with grants or loans but that depends on what is available in your region specifically.
Business Gateway also do courses on a range of start-up topics, all free of charge.

Hope that helps!

[elainec100@cheapaccounting]

My advice would be to discuss the best structure for the business with an accountant.

Any bank will want a business plan - so you will need to get that together asap.

They will also want you to be putting in a far chunk of cash yourself - and if you aren't I doubt the loan will be forthcoming in this climate

[MyAccountantOnline]

To add to Elaines advice have you ever looked at Business Link?

http://www.businesslink.gov.uk/bdotg/action/layer?r.s=m&r.l1=1073858805&r.lc=en&topicId=1074404796

That might be helpful - they do also run courses which can be useful.

[benstege]

Ah, yes, Business Gateway = Business Link outside Scotland...

[MyAccountantOnline]

Ah, yes, Business Gateway = Business Link outside Scotland...

Apologies I didnt realise that;):)

[Alexander41188]

Thanks guys very much, I'll get right on it :)

[GGGSurrey]

Alex

I don't want to appear negative but do think carefully about the big jump from being a contractor to being a shop keeper. If you wanted to be cautious, you could maybe find a larger outlet (I'm thinking of a garden centre) which might rent you some space with less commitment than a shop lease would require.

Good luck, regardless

[benstege]

No worries, I didn't think of it either ;-)