Is now the right time to start your business?

/ Business and Economy

Author: Joshua Ejdelbaum

Tags: business, small business

The number of new business websites registered has increased by 60% during Covid, compared to the same period last year. So, it seems that now could be the right time to start a business.

As many people find themselves with extra time on their hands, some have decided to finally action their plans.

We’ve outlined three steps to starting your own business:

  • Set clear goals – If you don’t know where you’re going, the chances of success are quite slim. Whilst all plans are subject to changes, having a rough outline of where you want to be is crucial. Some of the most common planning errors include underestimating costs and overestimating the level and speed of gaining income. Make a plan so you know where you would like to be at certain time landmarks.
  • Embrace technology – As working remotely becomes the new norm, embracing technology could not be more relevant now. From virtual meetings to social media, connecting to the WiFi is an integral part of everyday life. Not exploiting this will put your business at a significant disadvantage so make sure you set up that social media account and start posting.
  • Network – Despite all the efforts you may make in setting up your own business, you may not be able to make the final leap due to a lack of contacts. By networking through events (even online ones), social media and reaching out to others in the field, you can make invaluable connections that can be beneficial to your business in both the long and short run.

Discover more tips for starting a business here.