open sign on a shop door.
Start-up tips

Things to Consider When Starting a Business

It might feel like there are a million things to consider when starting a business. Perfectionists may focus on too many elements when really there are only a few key areas for your attention. To ease your stresses and worries we’ve created a checklist of what to consider when starting a business in any industry.

Strong research, planning, and preparation are vital to demonstrate the viability of your company’s idea and improve its chances of success. Before launching a start-up you must have a business plan and finances in place, but there are many more things to consider when starting a small business.

Use the following steps whether you’ve just come up with a great business idea and are wondering how to turn it into something real or are ready to launch your start-up but want to double-check you’ve covered everything. Work out what to consider when starting a business with this checklist.

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A gap in the market

One of the most important things to consider when starting a small business is where your company fits into the existing market. Is there a need and opportunity for your new company? Conducting plenty of thorough research into the industry and understanding the sector should help position your start-up properly.

It’s no use launching a business that does the same as existing ones, you need unique selling points (USPs). Run a competitor analysis to determine any gaps in the market. Look at both online businesses and any physical ones in the location where you plan to launch.

Finding a USP and carving a gap in the market can be as simple as offering a cheaper service or products, improving on existing options, or adding something different. For example, if you’re starting a pizza takeaway consider offering free delivery if competitors charge for it or design a menu with toppings unavailable elsewhere.


Define your target audience to help make better decisions when you start and grow your business. These are the people you’ll sell to, work with, and who will ultimately determine whether your business is successful. Spending time nailing your audience demographic before you begin is imperative for any start-up.

Consider what your target customers want and need from your business, where else they might look for such products or services and explore current pain points for them. Common factors to consider when working out your audience demographics include their:

  • Income
  • Age
  • Gender
  • Marital status
  • Education level
  • Hobbies and interests
  • Location
  • Core values and beliefs
people in a coffee shop.

Funding for your business

Securing capital is a huge consideration for your new business. Most start-ups require outside funding (unless you’ve luckily just come into a large windfall of cash you’re willing to put behind your idea). Common funding sources include bank loans, grants, angel investors, and venture capitalists.

Before seeking funding for your new start-up idea you must have a strong business plan. This should outline the idea behind your business, your competition, all the finances to start and operate, any risks, and expected growth for the coming years. It’s important to demonstrate your business is viable but also to win over potential investors.

Depending on the funding route you choose there may be other requirements. Applying for grants is a great idea as it’s money you don’t have to repay. The terms and conditions vary for each grant though, so read them carefully and ensure your new company aligns with the scheme.

Discover some money saving ideas for new businesses 

Marketing and advertising

Opening a new business in any industry can be nerve-wracking when the big day arrives. What if nobody’s interested? Building excitement and spreading the word about your new business before it opens helps ease any concerns. Good marketing and advertising in the lead-up and after the launch can assist.

Your business plan and budget should include funds for marketing and advertising. It may be tempting to do it yourself, but this can be time-consuming and less effective, so outsourcing to experts is advised. Tell them about your organisation and its goals then work together to form a strong strategy.

Where you advertise your new business will depend on your industry and location. Decide whether you want to target local or national outlets, online or physical media, and any video or radio adverts. Look at what your competitors do well and where they could improve for inspiration.


Selecting a location can depend on the type of business you’re starting. For a shop, restaurant, garage, or any other company that needs a physical location you must get it right. Scout around for available properties, assess the access (such as nearby public transport links), and look into what the building was used for before.

If the building hosted a similar business ask what happened to it, as this could highlight issues with the location. You’ll need somewhere with enough space to store your products and equipment, as well as room to expand if necessary. Compare a few places and find one that meets your needs and budget.

In the modern world, many businesses set up online and run out of homes. This suits lots of companies and is cheaper than renting workspace. Consider your location though, as you might need to visit clients or regularly ship items so will need good access. There are also legal obligations of starting a business from home.

busy high street in Glasgow.

Supplies, equipment, and overheads

Work out what equipment, materials, and supplies your business needs. When starting up there may be one-off items such as furniture and decorations to set up shop, while there’ll be other ongoing supplies you’ll require regular deliveries of to keep running. This could include tea and coffee for staff, paper for printers, and toilet roll for bathrooms.

Overheads are key things to consider when starting a small business. The costs of simply operating are vital, from the initial purchase of equipment to its ongoing maintenance and repair. If your IT systems go down it may lead to lots of lost hours of productivity. Compare suppliers to find the most cost-effective choice.

Risks when starting a business

If starting a business was risk-free then everyone would give it a go. That’s not the case and there are various risks when starting a business. Understanding what could hamper the launch, running, and growth of your new company helps reduce the impact of any potential failings.

Some risks when starting a business can be controlled. Financial risks such as not hitting targets and unexpected losses might be offset with an emergency fund in your budget, for example. However, other risks can’t be planned for, and your organisation may have to adapt, as seen during the Covid-19 pandemic.

Risks for businesses vary across industries so it’s worth checking out reasons why other similar companies have failed. Including the potential risks in your business plan and how you’ll tackle them is important and provides reassurance. It’s also key to have the correct insurance in place to protect your start-up against the financial impact of various risks.

a flooded pub in Yorkshire.

Waste management

It’s not the most glamorous of things to consider when starting a new business but what you’ll do with your waste is important. Legally, every business in the UK must arrange the collection of their rubbish by licensed waste carriers. Using a third party such as Business Waste is a safe option.

We provide free bins anywhere in the UK to businesses of any size, age, and industry – you only pay for collection. This includes general waste, recycling, and any waste materials. Licensed waste carriers can remove your bins on a daily, weekly, or fortnightly basis to suit your needs.

Get a free quote for waste collection for your new business anywhere in the UK – call 0800 211 8390 or contact us online today.

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