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Theo Paphitiss Tips for Small Businesses
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In today’s current economic climate, we need more businesses to start up and be successful, but it can be tough.
The reality is that many business people feel that they are on their own. Research from NatWest has revealed that a staggering third of entrepreneurs consider throwing in the towel in the early stages.
Many entrepreneurs said they did not have the appropriate business building tools because they did not know where to start in setting these up.
This is demonstrated by the 35% of small businesses surveyed saying they didn’t have a business plan in their first year - a fundamental must have for new businesses.
Of those small businesses surveyed 61% stated that cashflow was one of their most significant challenges in their first year of trading.
More startlingly is the fact that 46% of small businesses didn’t have a website in their first year, even though 45% believed it would have helped to increase their sales.
NatWest are aware of the lack of support which small businesses receive and have created Smarta Business Builder, a one stop tool for all entrepreneurs looking to create a successful business and thrive in the current economic climate.
Smarta Business Builder is backed by Theo Paphitis, star of BBC’s Dragons’ Den who understands that businesses need a supported start.
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