20 Tips to Help You Choose a Business Idea

  • Price: £3.60
  • Published: October 2013
  • Type: Business Information Factsheet
  • Format: PDF

If you are new to self-employment, finding the right idea for a successful venture can be quite a problem. It is not made any easier by economic uncertainty, and when you read about companies that are household names struggling to survive, you could well be quite concerned about the wisdom of launching a new venture. But new ventures do survive and thrive, and many more will be needed to grow our economy in the years ahead.

The basic building blocks for any new business venture are:

  • The range of products and services that you can provide.
  • The likely need for those products and services, either from individual customers (consumers), or from small firms, local government or other types of organisations.

Once you find the right combination of products, services and customers, you have the possibility of success in self-employment. What follows are some ideas about how you can find the right combination.

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