How to Start a Business with (Almost) No Money

One of the most frequent questions that we get from our clients is how to start a new business with very low capital. We completely understand the struggles that some of our clients are going through, and that’s why we decided to make this article where we will be talking about the issue of starting a business with almost no money. Of course, the first thing that you must know is that you can do this, despite what other people may tell you. If you go and ask some other business owners about this, they will most likely tell you that you can’t start a business without enough money. However, they are wrong and we will prove it to you.

Planning

Planning is a very big part of starting any type of business even when you have enough money to start it. However, when you are in a situation where you don’t have the money to start it properly, then you must focus even more on the planning process because it will help you a lot. Without planning, the startup of every business would be a disaster because you would not be prepared to face your issues. The planning process will prepare you for every type of issue that might come your way. In the case when you don’t have money, this planning is a must because it will give you an idea of how much money is necessary to start the business.

You have to know that starting a business requires money, but it can be done with just a little. Of course, you will not have all the qualities that you would have if you had money, but you can still succeed. The planning process if done right will show you exactly what are the expenses that you must pay in order to create a legal business. These expenses will be mostly legal ones such as paperwork.

Cut Your Expenses

You have to be smart when creating a business with almost no money, you always have to look for ways that will allow you to cut your expenses. For example, your legal paperwork can be done by hiring a professional lawyer, but it can be done without one. The difference is huge because you will save a lot of money by doing it yourself. However, it will most likely take you much longer to finish because you don’t know exactly how to do things.

 

Developing Your Business

Compliance

This course is ideal for businesses needing to qualify staff to the level of Appointed Persons to take responsibility for a first aid emergency and the first aid box in accordance with the Health and Safety (First Aid) Regulations.

Aims of the course are:
• Assess and prioritize a first aid incident
• Deal with an unconscious casualty
• Carry our resuscitation on an unconscious casualty
• Control bleeding and manage shock
• Be able to recognize and deal with a wide range of common injuries until the arrival of medical care
• Maintain records
• Use and maintain first aid kits
The course consists of both theory and practical work, and upon completion of the course, participants will be awarded an Emergency First Aid certificate valid for 3 years.

Promoting Your Business

To raise your business profile often means you need to communicate to other businesses.  Many of the businesses we work with have ‘opted in’ to allow us to share their contact data with other businesses.  That means that we have up to date information on local businesses – providing us with a perfect way of helping you!

Branding & Marketing

MCC Business Solutions can help you embrace Branding and Marketing concepts into your business through our workshops, tutorials or through our network of business advisers.

Workshops & Tutorials

We offer a full range of workshops and tutorials covering everything from

  • starting up
  • finance
  • marketing
  • business writing
  • compliance (health & safety, fire prevention, first aid

Finance

Every new client case requires a specialized support that will raise the finance sought. Our team of experts is more than qualified to advise you about how to raise finance from various sources. Of course, they specialize in advising smaller businesses that require this support. You will get professional help and pieces of advice throughout the entire process. If you want to use our financial services then there is only one thing that you need to do and that is to contact us as soon as possible so we can diagnose your situation.

Review

The MCC Business Solutions are focusing on various ways to help out smaller businesses by giving out professional pieces of advice. We offer all types of information and support that will lead you and your business to success by growing and developing each segment of your business. Of course, to give out any advice we first need to completely review your business.

 

Information And Advice – Public And Product Liability Insurance

All businesses are exposed to some degree of risk. The sudden loss of a key member of staff, for example, could have disastrous consequences as could damage caused by a fire, long-term failure of equipment or loss of property through burglary.

If your delivery van is put out of use following an accident or your premises get flooded, imagine how disruptive this would be to the day to day running of your business. And what if one of your customers is injured because a product you sold was not wired properly or a member of staff is hurt in a workplace accident?

This is where insurance comes in. All these eventualities can be insured against and the impact they have on the long-term success of your business minimised. They are optional, of course, and businesses have to assess the risks – their likelihood to occur and the damage they could cause – and decide whether insurance is required.

There are, however, 3 types of business insurance which are essential.

1.Employers liability insurance

It doesn’t matter how big or small of a business you have, you are obligated to have this kind of insurance because it will protect your business from a potential legal case that was issued by one of your employees. Your employees will issue a legal case against your business if they get hurt on the workplace that was caused by some malfunction.

This insurance will cover that injury that your employee has suffered, or if your employee gets some type of disease on the workplace. All of this will be covered by the liability insurance and that’s why it is so important for every business to have this type of insurance.

2.Public liability insurance

The second main type of insurance that a business needs is public liability insurance. This is not a legal requirement for all businesses but is mandatory for ones which offer a product or service to consumers. Public liability covers the business against injury, illness, death or disease contracted by anyone, other than an employee, as a result of your business operation.

The cost of public liability insurance varies according to the amount of cover required and this normally ranges between £1m and £10m a year. The level of cover required tends to follow specialist trades and activities and also covers damage to or loss of property as well as legal fees.

3.Product Liability Insurance

This insurance type will cover all damages that are caused by your products in the case when some defective product causes damage. Every business that supplies other businesses with their products should have this insurance coverage.