Over the past two years, many enterprising individuals have made the most of the challenging situations they faced and launched their own businesses from home ranging from ecommerce businesses to vlogging.
A record number of new businesses were launched over recent months, which means that the UK’s corporate landscape is now incredibly competitive.
Launching a new business from home is exciting and can be great for anyone with skills or product ideas that they want to share directly with customers, rather than working for another company.
However, as your home business grows, you might find that you need to expand. The early stages of business growth are crucial for its ongoing success, so you need to make sure that you’re on top of everything you need to do.
As you grow your business, your location will also become more important, as you’ll need to find a workplace and hire staff.
Also, as you grow your organisation, you might start to target more local businesses, so you can offer hands-on support, as well as companies from further away.
If you’re choosing a location for your new business, then you need to think long and hard and work out where is the most cost-effective city from which to base your new company.
While London is often a popular choice for businesses, it’s also incredibly expensive. Outside of London, one of the top cities for new businesses to thrive in is Glasgow.
Launching a business in Glasgow takes a lot of time and commitment. If you want to turn your side-hustle into a prosperous company in the Merchant City, then read on.
We’ve put together a list of handy tips for to help you get your growing Glasgow-based business off to a great start.
Make A Plan And Set A Budget
Initially, you need to make sure that you have a rough plan for your business’s future growth. Growing a small business takes a lot of hard work and money, so you also need to set a budget for the coming years. Your plan and budget might evolve in the future, but they are a useful primer to help you get started and ensure that you know what to do during the first stages of your business’s growth.
Conduct Research Into Your Target Market
As part of creating a business plan and setting a budget, you need to research the local business market and check out the average price of the services and support you need. Consider getting quotes from local businesses or checking out their websites to see what they have to offer and how this could affect your business plan. When it comes to budgeting, you need to work out approximate average costs for the services your business will use and the bills it will have to pay, such as corporation tax. Then, you can set your budget based on these costs and ensure that it is feasible. By doing your research, you will increase your chances of success further down the line.
Ask For Help Finding The Perfect Office Space
There are plenty of choices when it comes to office space in Glasgow, but finding the right option for your new business might prove challenging. After all, there are a lot of factors to think about, and if you get it wrong, then you could end up paying dearly for your mistake for many years to come. As such, a helpful approach is to speak to expert fit-out companies, like Amos Beech. They specialise in office space to rent Glasgow, so their team can discuss your needs and help you to find the perfect workplace for your growing company.
Network With Your Industry Peers In The City
Take advantage of Glasgow’s thriving business community by attending networking events and talking to your industry peers. This approach will help you to connect with the local community and to earn potentially valuable connections with business leaders in your neighbourhood. Try to find local networking events that are targeted towards your niche, so that you can meet and engage with business leaders that could provide you with potentially valuable insight and advice. Also, you could check out local conferences, as these are educational as well as offering you a unique opportunity to make connections in your sector.
Learn About Support You Could Be Entitled To
Glasgow is a city that’s dedicated to supporting local businesses and helping them to grow. As such, the local council offers a range of business support packages, that can help companies to flourish in the city. Check out the options currently available and see if you are eligible for any. Then, you can put together your application and work to secure additional funding or support. As well as monetary benefits, you might also be entitled to other forms of support, such as signing up for a local hiring scheme to help you get access to new workers or apprentices or a business mentoring scheme. Explore the options on offer from both the council and local charities and community outreach organisations to see how you can benefit the Glasgow population and grow your new business at the same time.
Keep Changing And Adapting
As a fast-paced and modern city, Glasgow is always changing, with new businesses moving in, trends arising and more. So, if you want to continue your business and make it a prominent part of the Glasgow corporate community, then you need to stay on your toes and keep adapting. Make sure that you follow local news sites and blogs, and stay up to date with the latest news in your neighbourhood and the city as a whole. This approach will also help you to remain aware of the latest changes in the community that your business now operates in.
Glasgow is the perfect city for many businesses to grow and prosper in, but you need to do your research and take the right approach that suits your unique needs. Start with these tips and use them to guide you through the process of turning your side-hustle into a prosperous company in Glasgow today.