Everyone can work for themselves but to be successful you’ll first need to carefully consider the issues this career choice will raise:

• Your Unique Selling Point, or USP
  What will make your product or service stand out in the market place and attract customers and clients to you?
• Your skill set
  What can you do particularly well? Are there additional skills that you will need to develop or buy in from other people in order to get started?
• The Market
  Is there a real demand for what you intend to offer? Are many competitors already in the field?
• Lifestyle implications
  Can you commit the necessary amount of time to starting your own business?
• Finance
  Will you need any initial funds to get your idea off the ground, and if so, how will you access them?
• Premises
  Where will you work? Will you need to pay rent for a workspace?
• Business Model
  If you’re setting up with other people you’ll need to think about what kind of business structure is best for you.
• Legal aspects
  Whether you’re a sole trader, limited company or have formed a partnership there are many legal implications to consider such as company registration, tax and insurance.
• Business planning
  Do you have a business plan which sets out goals that are SMART (Specific, Measurable, Attainable, Realistic and Timely)? Banks will want to see your plan in order to open a business account. Continued referral to your plan will help you improve operations and keep you focused on the things that you want to achieve.

Although you may have a great business idea, it’s wise to utilise the support and advice that’s available:

Our guides on ‘Becoming Self-employed’ and ‘Freelancing in the Creative Industries’

Our regular interactive workshop ‘Self-employment – an introduction’ See our events page for latest dates.

MMU’s Enterprise Champion, Dr. Clare Schofield who offers initial one to one advice and can link you to appropriate mentoring support including that of MMU’s Entrepreneur in Residence. Email – enterprisechampion@mmu.ac.uk

The Enterprise Champions programme of events for MMU undergraduates, which includes The Ideas Factory, the New Directions programme, Business Booster, the Enterprise Academy and a monthly business group. www.mmucfe.co.uk/services/providing/enterprise-champions

Innospace www.innospace.co.uk – MMU’s incubator for graduate business start ups offering office space, a Manchester address (with M1 postcode), meeting rooms, business support and training together with its entrepreneur community and networks.

Key Resources for Entrepreneurs