Business Mentor News: Lockdown encourages new start-ups

business mentor northamptonIn the Daily Express, a report from Royal Mail suggests there was a 7% increase in new companies launched during the lockdown. The research indicates there were 315,000 company start-ups between March and July – fuelled by a boom in e-commerce businesses as consumers shifted to online shopping.

From April to June, Companies house recorded 176,000 start-ups, the highest number for any second quarter on record. The question is, how many of these companies will survive?
With the end of the furlough scheme getting closer and closer and more businesses making more and more people redundant, the new ‘entrepreneurs’ are likely to continue to rise for some time.

Get a business mentor to help your new startup

Even with the best professional advice, there is no guarantee that your ‘business dream’ will be a success. However, with good advice from experienced people such as a business mentor who have already walked that long road may help. A business mentor will give you an honest appraisal of your chance for success. They can advise whether you are seriously risking your life savings or redundancy package on an ill-fated idea. Conversely, however, your chosen professional advisor with a proper business plan in place may not only agree you have the potential beginnings of a successful business; but could show you where the cost
savings could be. That initial advice may stretch your initial investment at the critical start of your business.