New research has revealed that last year saw more new business start-ups established in Merseyside than any other year in the region’s history, with 11,451 created in 2018 – a rise of 3.9 per cent on the year before.
Software specialist Inform Direct put together a report using information from the Office for National Statistics and Companies House, revealing that the total number of registered companies in the local area is now at 65,551, representing growth of 2.8 per cent, Liverpool Business News reports.
“These record high figures for new company formations in Merseyside show a very positive picture for business against a background of political and economic uncertainty.
“It is clear that the county continues to provide a supportive environment, both for new business ventures and existing enterprises. It is heartening to see entrepreneurs making their mark with increasing numbers of new businesses being formed,” director of operations with Inform Direct John Korchak said.
Liverpool itself saw the highest number of start-ups formed, with 5,334, followed by the Wirral (2,198), Sefton (1,947), St Helens (1,046) and Knowsley (912).
4 top tips for start-up businesses
Ask for advice
Assuming that you know it all is dangerous and you could find you fail before you even start so pick the brains of people who’ve been there and done that before you. The right advice and support will really help you get off on the right foot.
Do lots of market research
If you want someone to invest in your business, you’ll need to be able to demonstrate in-depth market knowledge, so make sure you do lots of research and are properly prepared. Weigh up your strengths and weaknesses so you can show how aware you really are of the opportunities and challenges you face.
Be adaptable
If your start-up runs really smoothly from the moment you have the idea to the moment you see it through to fruition, then you really will be incredibly lucky indeed. It’s inevitable that you will come across all sorts of obstacles but the key to your success will be in how you react to these and what you learn from what goes on.
Never stop networking
A lot of the time, it’s not what you know but who you know and you should look at every chance meeting as the opportunity to strike up a new friendship that could potentially benefit your business later down the line. Going to relevant industry events is also a great way of meeting people who can help you or who might potentially be interested in investing in your business at some point in the future.
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