Starting a business
A key priority in the area is to encourage the creation of new businesses and support people wishing to become self-emplyed. Stockton Council offers a range of support and advice for those considering starting up a new business. If you have an business idea and would like to take the next step, read on to find out what you need to consider and how we can help.
Things to consider
If you are thinking about starting up a business there are some key factors you will need to consider to ensure you get the best possible start and the highest chance of success. Here are some of the main factors to think about -
|Your product/service||Buy existing business or invest in franchise?|
|Are you prepared for the challenge?||Business name|
|Business plan||Finances and starting up cost|
|Is there a market for your product/service?||Premises|
|Get your prices right||Know your customers|
|Employing staff||How will you promote your business?|
|Who is your competition?||Business taxes and other bills|
It is important you do as much research as you can. Businesses are most vulnerable to failure during the early years of trading, with 20 per cent of new businesses folding within their first year and 50 per cent within their first three years.
These figures should not scare you off, but should prepare you for some of the challenges entrepreneurs face when starting a business. With hard work and an awareness of the issues, a new business can be a great success.
Why start a business in Stockton-on-Tees?
- Our business locations combine inspirational settings with excellent access, infrastructure and support services
- Thanks to Stockton Borough's excellent infrastructure and transport links, its business community benefits from low commuting times and excellent connectivity to Europe and beyond
- In conjunction with Teesside University and Tees Valley's College Network, the University of Durham and Stockton Riverside College provide a strong support network to improve skills, encourage innovation and retain and attract skills and expertise
- A year-round programme of festivals, events and sporting fixtures for all the family has firmly established the Borough of Stockton on the cultural world map
- Here in Stockton Borough you’ll find a network of people and organisations waiting to support and inspire businesses at every level, from international and global corporations through to new business start-ups.
How we can help
Business Engagement Team
You can get in touch with our Business Engagement Team on Tel (01642) 528384 or Email firstname.lastname@example.org. A member of team will be happy to talk to you regarding starting up in business and will help sign post you to the most appropriate organisation that you require support from.
Support to start a business is also available from a number of regional organisations which are all part of the Stockton Gateway.
The Five Lamps Organisation
Find out what's involved in starting up a business and how any benefits you receive will be affected. Speak to an Enterprise Coach and book onto informal business workshops. For more information visit www.fivelamps.org.uk/enterprise or telephone (01642) 608316.
Northern Pinetree Trust
The Northern Pinetree Trust works with people with a disability, long term illness, those from a disadvantaged communities and people who have been unemployed for a long time. For more information visit www.northernpinetreetrust.co.uk/employ.htm or telephone (0191) 492 8215.
TEDCO provides support and advice for new businesses. For more information visit www.tedco.org/business/services/support or telephone (0191 428 3300.
Avanta offers help to all unemployed people through courses such as 'Work programme for employability and enterprise' and 'Preparing to run your own business'. For more information visit www.avanta.uk.com or telephone (01642) 610610.
The Prince's Trust
The Prince's Trust offers help to young people, aged between 18 and 30 years, who are looking to set up their own business. For more information visit http://www.princes-trust.org.uk/need_help/enterprise_programme.aspx or telephone (0191) 497 3210.
Stockton Business Centre
Stockton Business Centre offers a range of small offices and units ideal for start-up businesses. For more information visit http://www.stocktonbusinesscentre.org/ or telephone (01642) 527933.
HM Revenue & Customs
HM Revenue & Customs offer a programme of seminars to help with Self-Assessment, taxation, National Insurance and VAT. For further information visit www.hmrc.gov.uk/startingup/index.htm or telephone 0845 6032691.
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