Graduate Business Start Up Advice

What You Need To Consider

From high-tech innovation to artistic or social enterprise, more graduates than ever are blasting off straight from university, turning their energy and ambition into business ventures. So, you've lit the fuse, clambered into the barrel and you're about to do your human cannonball act into the world of small business start-ups. You've calculated your trajectory and know in your heart that you can hit that target - but you're going to need a strong, well positioned safety net to land in.

Call us on 01233 653006 and see how we can help you today.

It's not hard to see why so many are choosing to go their own way. With 9% of graduates out of work and 47% stuck taking non-graduate jobs, higher education is no guarantee of quick success in your dream career. Rather than playing by the rules of a rigged game, starting the business you want to work in could be your best shot at winning on your own terms. However, before you launch that rulebook out of the window, you need to make sure you understand the way the game is played - and this is where RIFT Accounting comes in. If you’ve got a world-shattering idea and need help bringing it to life, come and talk to us. We'll walk you through the different approaches, costs, risks and responsibilities.

With every new business, there are several important points to consider from the outset. You and your university friends may have an amazing business idea, for example, but you'll need to think about company structure, division of ownership and the management of liability if things go wrong. Whatever kind of business you're running, you'll need bullet-proof accounting and a clear view of your regulatory obligations.

Many universities have "incubator units" or "hatcheries" to support start-up and pre-start-up businesses. There are also initiatives that encourage innovation in particular fields or link up with local technology and media businesses.  We have connections with many of these and can help you find out where to go for support and funding.

Take a look at our pricing examples to see what suits you best. You can add and remove options so that you only pay for the services you need.

With proven expertise and the Clear Books cloud-based accounts system, RIFT Accounting can keep the running of your business smooth and free of obscure jargon. We'll discuss all your options with you, and help you make the right decisions. Get in touch now to light the fuse, and get ready to see some fireworks.

What Is It Like to Be a Graduate Entrepreneur?

Will I be famous?

Many young entrepreneurs now enjoy celebrity status, but if that's your primary reason for wanting your own business, you may need to take a step back and think about what's involved. That celebrity, so often presented as an effortless rise to fame and fortune, was the result of extremely long hours and hard work in obsessive pursuit of a closely detailed strategy. Of course, that doesn’t sound quite so sexy in interviews.

Will I be rich?

There are no guarantees, and you might earn less – or even nothing – by working for yourself. The first years won't be an easy ride. You'll need to be resilient to cope with the stress and setbacks and continue following your dream.  You may win great rewards, but they'll come with risks. Don't worry; we'll come with you. There's safety in numbers - and numbers are something we really understand. 

Can I set my own hours?

Don’t fancy early mornings? Want to pick which days you work? Much will depend on the type of business you start, but working for yourself could grant you much more flexibility to live life your way. You might even be able to work from home, if that's appealing. It may sound like an extension of your student days in the land of Do-As-You-Please, but it’s not quite as simple as that. You need to be available when your clients need you,  or you'll quickly have no clients at all! There's definitely a lot of freedom, but there also needs to be a lot of discipline.

Will it be exciting?

Without a doubt, it will. Starting your own business and growing it into something larger and more successful is a great challenge, so you really need to consider carefully whether it's the life for you. Some days, you might find yourself questioning why you ever started in the first place - but if you've got the strength and instinct for it, it could turn out to be one of the best decisions you’ve ever made.


Talk to RIFT Accounting to get that human cannonball rolling.

Call us on 01233 653006 and see how we can help you today.

 

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