I for Investment in your business

I for Investment in your business

How do you know where to spend the start-up funds effectively?

If you planned out the start of your business you may have had funds already sourced and ready to go for your start-up.

When I started the plan was to be employed part-time and gain clients as I went but it never actually worked out that way. In July 2017 I started my business with an existing laptop and knowledge of bookkeeping. I had no funds set aside apart from my salary from my final month as an employee.  I am in the fortunate position to have a minimal mortgage and no small children to support anymore...and a very understanding hubby!

I had to spend these funds on my IAB Membership, Money Laundering Supervision and Personal Indemnity Insurance.  Then I set about learning how to create my website and marketing materials!!

I used Go Daddy to buy my domain name and create my website - my first attempt and I have had compliments so far. 

https://uk.godaddy.com/

I had a Networking Event for the following week and so made a few very quick business cards for that and used Vistaprint to make a more permanent one.  I have updated it and reprinted since but am still considering when to invest in a logo and more 'professional' one. It has not hindered me getting clients so far- maybe a tip there as to where you can save money in the beginning. 

https://www.vistaprint.co.uk/

As the months have passed I have signed up to 4Networking as I felt it was the best value for me with the options for networking all over Wiltshire.  It's all going well at the moment. Lots of lovely business people who are becoming friends and kept me going in the early days. I even have the offer of a desk if I want it now and again for free!

https://www.4networking.biz/

I had amazing support from the SME Growth Programme who provide 12 hours free training for all start-up businesses in Swindon and Wiltshire. Check them out. 

https://www.businesswest.co.uk/services/swindon-and-wiltshire-sme-growth-programme

What it has cost me;

PAID resources
IAB Membership, MLR and PI
Vistaprint for my business cards
Go Daddy for my website and hosting
4Networking for gaining connections and support
Stationary and Files
Paper and Ink

FREE resources
Social Media - Linked-In, Facebook and Twitter 
Advice from networking and desk space if I want it
SME Growth Network 12 hour free start-up training
TEN (The Enterprise Network) networking events http://www.theenterprisenetwork.co.uk/

In summary - I realise that setting up as a bookkeeper is not very expensive for a start-up, unlike a physical shop of stock heavy business and I am not an expert on gaining business loans or start-up funding but I know who to speak to if I need to find out!

Thanks for reading this far and hope you find some of my tips useful.

Maggie

What did you do with your start-up funds?
Any tips to share with me?