The Office for National Statics reports 383,000 business births in the U.K. and 252,000 businesses deaths during 2014-2015.
Why do businesses fail? There isn’t a specific reason why, it could be a number of things. As a specialist business hub, CBL works with many start-ups and scale ups and as result we have a good understanding of what the main challenges are for many small businesses. So what are some of these challenges??
• Lack of detailed research undertaken at the pre-start stage impacting on future viability
• Access to the right finance and/or investors to start or scale a business
• Struggle to recruit skilled staff
• Lack of affordable work space in the city
• Lack of real aspiration to scale a business
And the list could go on……..
It is hard to navigate the varying support available for small businesses and some support can be hugely costly and ineffective. At CBL we will go out of our way to make sure you get the support you need – if we cannot help we will know someone who can! There is no agenda here, CBL is a public funded service offering businesses and individuals the opportunity to develop their business or themselves.
Research is key, whatever stage your business is at. CBL offers free access to a huge array of business information to help start a business, access market research/statistics for industries, geographies and companies worldwide. You can create UK and global B2B contact lists and source information on economies, markets and import/export data. Our expert staff are here to help you find the information you need to start and grow your business.
A good way to meet any future challenges and avoid failure is by getting business advice and talking to people.
Business support for a start-up is crucial. Book a 121 session, or use the free live chat business advice platform available on our website.
What about building a network around your business with like minded individuals. Attend seminars and workshops, which are aimed at helping new and existing businesses. At CBL our business support seminar cost as little as £7.50. Topics include online marketing, finding finance, international trade, social media and much more. There are also online courses available to help you increase your business potential.
CBL offers flexible work space to plug in and access free Wi-Fi. Additionally, if you looking for an affordable meeting space in the City, why not book one of our rooms? We can accommodate training, seminars, conferences, meetings, networking or drinks receptions.
It’s lonely sometimes when you are starting or running a business, so come and visit and we will help you achieve your business goals
written by Alexandra Leader
City Business Library Engagement Manager