1. Refine Your Business

IdeaIdentify a Market Need: Conduct thorough market research to understand the current economic climate, market gaps, and evolving customer needs. Research online, visit some makers markets and independent gift shops for inspiration.Leverage Your Skills: Align your business idea with your strengths, skills, and passions to ensure long-term commitment and success.Value Proposition: Clearly define what makes your product or service unique and how it addresses specific needs exacerbated by the cost-of-living crisis and Brexit.

Identify a Market Need: Conduct thorough market research to understand the current economic climate, market gaps, and evolving customer needs. Research online, visit some makers markets and independent gift shops for inspiration.

Leverage Your Skills: Align your business idea with your strengths, skills, and passions to ensure long-term commitment and success.

Value Proposition: Clearly define what makes your product or service unique and how it addresses specific needs exacerbated by the cost-of-living crisis and Brexit.

2. Create a Business Plan

This doesn’t have to be pages long but it’s a good idea to get it down on paper 

Executive Summary: Provide a concise overview of your business concept and objectives.

Market Analysis: Detail your research on the industry, target market, competition, and market trends.

Business Structure: Choose your business structure (sole trader, partnership, limited company) and define the roles within your organization.

Products and Services: Describe your offerings, emphasising how they solve current market problems or needs.

Marketing Plan: Develop strategies for reaching your target audience, including branding, advertising, and sales tactics.

Financial Projections: Include realistic financial statements, cash flow forecasts, and funding requirements, considering economic uncertainties.