Starting a business as a parent with a disability may seem daunting. However, by using the right approach, you can make your dream a reality. If you want to get your London small business up and running, Triveo Media lists what you need to know.
Choose the Right Business Structure
Before you launch your small business, you need to choose a business structure. In the UK, you have several business structure options available, including:
- Sole Trader
- Partnership
- LLP
- Ltd
Which one is right for you may depend on your broader strategy and goals. Review the pros and cons of each one. That way, you can select the path that’s best for you.
Create a Business Plan
Your business plan can play a crucial role in your success. Not only may it help you obtain outside funding, but it also lets you organize your thoughts, define key targets, and outline your goals.
Writing your first business plan can be a bit challenging if you aren’t familiar with what it needs to include. In most cases, you’ll want to cover the following sections:
- Executive Summary
- Company Description and Business Structure
- Product/Service Descriptions
- Market Analysis
- Sales and Marketing Strategy Summary
- Company Organizational Structure
- Financial Plan and Projections
If you want assistance creating it, consider using online job platforms to find business plan services with the experience you need to get it right. Just make sure to read any available reviews, as well as examine the delivery timeline and cost. That way, you can make a smart hiring decision based on your requirements, budget, and deadline.
Find Financial Assistance
If you don’t have all of the funds you need to launch your small business, financial support may be available. Every scheme operates a bit differently, having unique requirements and capabilities.
For example, Access to Work helps disabled individuals in the UK get special equipment and adaptations to make working easier. Heritage Fund provides financial support for specific kinds of business-related projects that positively impact communities. Additionally, Innovate UK could be a resource depending on the nature of your company.
When it comes to options specifically for disabled individuals, there are some available. If you’re either blind or partially sighted, you may qualify for support from BBACT. There’s also the Stelios Awards for Disabled Entrepreneurs, as well as schemes operated by UnLtd.
You can also try the Business Finance Finder to learn about other funding programs. That tool also contains information about educational opportunities and practical resources, making it a wise place to check out regardless of your financial needs.
Get Support Through Strategic Hiring and Partnerships
While many disabled entrepreneurs initially try to do it all, that isn’t always practical. Often, it’s best to get support by hiring strategically and choosing the right partners.
If you have a short-term need that requires a highly specialized skillset, turning to freelancers could be an excellent idea. You’ll get critical support without the commitment of hiring long-term, allowing you to keep your personnel-related costs under control.
Many service providers can be valuable partners when you’re starting a small business. Triveo Media can assist you with a wide range of digital needs. Whether you need a website, digital marketing, brand development, or e-commerce strategy assistance, Triveo Media could become your go-to resource, allowing you to boost your revenue without having to do it all yourself.
Image source: Pexels
No Comments