Start-up guide
Considering these questions will help you to pinpoint where your business idea needs some further development.
Don't worry if you can't answer all of the questions yet, that means the guide is doing its job and making you think about your plans.
Other help
- Book an Enterprise Appointment to talk through your idea with us.
- Apply for up to £500 Proof of Concept funding to put your business plan into action. Applications close Week 11 each semester.
- If you're an international student looking for more information about setting up a business in the UK, see our information for international students pages.
- You can also call the free national Business Support Helpline:
- The service is available Monday to Friday 9am – 6pm - call 0800 998 1098
- Email enquiries
@businesssupporthelpline.org - Have a live webchat
- Connect via Twitter and Facebook
This should be no more than a sentence or two - any more than that and it's too complicated. Think about what problem or gap in the market your business will solve.
Who is your demographic? Are you operating from business to business as a wholesaler or selling directly to your customers? How do you plan to reach your demographic?
It doesn't matter if someone is already running a business similar to yours, it's always good to research your ideas and see if anyone else is doing it. Knowing your potential competition will help your business in the long run.
This is a great way to develop your business idea. For example, you can test it through market research. A good way to test out your business idea is to use The Mom Test.
You'll need the right skills to grow your business. A great idea alone won't cut it! Our Explore Enterprise programme can teach you the basics of starting a business. Alternatively you could recruit a business partner to fill the gaps in your skill set.
You'll need a clear plan of how your business will make money, for example through the pricing of your product or other sources of funding.
Figure out what your strategy should be. Making a Value Proposition Canvas can be a good place to start and help get you thinking seriously about your business.
Before you get too far along in your business journey you need to be sure of the legality behind your idea. The Gov.uk website is a good place to start.
Everything's better with a friend! Scope out some fellow students interested in enterprise here on campus. Entrepreneurs Society and Enactus are a good place to start.