Are You Getting The Advice You Need?

Yorkshire Bank have recently been looking at the motives behind small business startups, and also what the key issues are that small businesses typically face. Almost 60% of small business owners stated that their primary reason for starting up in business was because of a desire for more flexible working, and for a better work / life balance. Ironically it is small business owners and entrepreneurs that according to a Barclays Bank survey (2006) spend 60% more time at work than any other group. Small business ownership quite frequently necessitates a different approach and results in different qualities than initially expected…

The Yorkshire Bank research stated that one problem small businesses owners encounter is the difficulty in having a ’sounding board’ to discuss ideas and decisions. Even if you don’t have any employees that can offer an opinion, there are a variety of sources of advice that shouldn’t be overlooked. The first place for advice is BusinessLink, which provides a wealth of free guides and information sheets through their website. In addition, you can book appointments with them to receive business advice on all manner of topics, from operational issues to marketing advice. I can’t speak for all of the advisers, however the one I met up with in Newcastle certainly knew what they were talking about, as she had previously run a business with an annual turnover of over £8 million. They’re also available to offer help via email or over the phone if you require. You can find the contact details of your local BusinessLink by visiting their website, www.businesslink.gov.uk.

One of the areas uncovered by the survey of Yorkshire Bank was that small business owners felt that approaching a bank manager for advice wasn’t a realistic option. Yorkshire Bank, however, have been keen to promote their ‘experienced advisors’ that have been trained to understand the specific needs and conditions inherent in small business ownership, and will take a holistic and broad view of both the business and personal finances.

So if you need free advice then why not give Business Link a call, or book an appointment with an adviser at your bank.

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Tags: business advice, businesslink, bank manager, small business owner