Could be tempting – but is it worth it?

Once you have made your business plan, there are quite a lot of sources of support available for starting up a business in Northern Ireland.

Do you plan to start up your own business in Northern Ireland? No matter what your business is there will be a lot to learn before you get started. However, there are also lots of ways that you can get help and support in your business endeavours.

Online Research

When planning your business start-up, turn to the internet to find the support and the information that you need. There are many websites which will offer free guides and business advice for start-ups in Northern Ireland. You can find out all the answers to your questions, and even join small business owner forums so that you can discuss issues and questions with other people in the same situation as you.

Making a Business Plan

Before you get started, it’s time to sit down and think hard about exactly how your business will work. You will need to develop a business plan to figure out all of the logistics of how your idea will become reality. Do some market research to determine the viability of your business concept, and think about whom your potential customers will be and what their buying habits are. Think about whether or not it will be practical or advantageous to hire employees.

One of the most important parts of this is the budget. How much will you need to invest in your business to get it started, and how much will it cost to run? If you have never made a business plan before, there are many guides online which will teach you how.

Business Start up Grants

Now that you have a business plan, you will need to think about how you will fund your start-up. Unless you are a multi-millionaire with money to throw around, you will likely have to take out a loan or apply for a grant.

If you need support when starting up your business, there are a few business start-up grants available in Northern Ireland which can assist you. There are even financial support to small business. They provide unsecured loans of up to £25,000 for start up businesses and free held with a business proposal. All you have to do to be eligible is submit a viable idea for a business drafted up in an official proposal and apply online.

These grants are more directed to businesses which can grow and compete in international markets. This is the organization to apply to if you are in a manufacturing business or any other business which offers internationally tradable services.

If you are between the ages of 18 and 30 there is also the Prince’s Trust Northern Ireland, which is a charitable organization providing mentoring, training and financial assistance to young people who want to start their own business. It provides low interest loans of up to £4,000 and other support.

Starting up a business can be a lot of work, but with the support available in Northern Ireland it is possible to make your business dreams come true.