Start-up business adviser offers tips to would-be entrepreneurs

A business adviser who is an expert in start-ups has offered some tips to people hoping to establish their own company soon.

Sylvia Constantine, IBA Start-up Business Adviser of the Year 2005, said the end of a recession is “always” a good time to set up a new business, but warned that entrepreneurs should ensure they fill any gaps in their knowledge first.

“Everybody has transferable skills and knowledge from their previous employment and their life but there will be gaps,” she commented.

The expert added that it is wise to use every means possible to fill them before launching the new business and to use any experience as a consumer to set standards of customer service.

She also suggested keeping good financial records even before the launch, as this may prevent problems later.

A recent report from IfM Education and Consultancy Services suggested that small and medium-size manufacturing companies could hold the key to the UK’s recovery.