How New Entrepreneurs Are Seeking Advice

Being an entrepreneur isn't a new concept, and the same is true of seeking advice. The savviest business starters know that you can't go it alone; you need to get some advice. In the past, this would mean arranging actual meetings, filling in forms, and spending a lot of time with a business advisor.

Retired independent business advisor Nilesh Waghela has seen the changes that have come about in recent years. The most drastic changes are the ones that technology has brought about. New entrepreneurs know that they can look up most things online, so they can get help when and where they need it.  

Modern advisors have seen this trend coming, so they've changed to adapt. That means that they're making themselves available online, allowing business owners to get in contact virtually rather than physically.

However, one thing hasn't changed: the fact that new entrepreneurs need advice. If you're a new business owner, here are some topics you may need help with.

Understanding Branding

In the age of social media, branding is everything. You'll need to get strong branding set up right away, so you can make yourself stand out from the crowd online. Get advice on how to find the best brand name for your company, and how to create logos that are unique and memorable.

Setting Up Your Finances

Any good advisor will tell you that you need to get a business bank account and an accountant before you start your business properly. Setting yourself up with the right tools first is key to ensuring that you'll be ready to take on anything. It’s important to understand the way money works in business too, such as revenue, margins and profits.

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Get to Grips with Legalities

You should think about approaching a business advisor to discuss the legalities of starting your own business. For example, you may need licenses or permissions to start the work you want to do, and a qualified business advisor can help. They can also help you to understand the way you should set up your business. For example, should you register as a sole trader or a limited partnership?

Entrepreneurs are still looking for help in setting up their own businesses, but they're going about it in different ways. If you're an entrepreneur, ensure that you ask for the advice you need, especially on the above topics.

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