Where should small businesses look for advice?

I had a successful business, which I sold. The lifeline for start-ups then was the free Business Link service, which was discontinued during the coalition government’s short-sighted austerity programme.

I’m starting over, but wondering what avenues I can explore for similarly helpful, free business advice – apart from your good self, of course.

Dave Fishwick, This Is Money’s company doctor, replies: The business link service was a great idea and a good resource for small businesses.

Started by Michael Heseltine in 1992 to bring together several separate advisory services designed to encourage small businesses to invest in training and empower them to navigate the corporate regulatory maze. It only worked in England. However, the other regions of the UK still have similar regional services.

Although the service was discontinued in 2011, there are several places where you can still get advice and support today.

You can also get free support and advice through your local growth hub. There are 38 regional growth hubs on the Local Enterprise Partnerships (LEP) website. They provide funding and guidance designed to grow their local economy.

You can also contact the government’s Helpline for entrepreneurs free of charge for tax advice, exporting and writing a business plan. You can find the contact numbers and email contacts and various links and information about them on the gov.uk website.

I didn’t know so much help existed when I started business, and it is still possible to build a business without help. However, when I started I had some extra income from night and weekend work, and this gave me some breathing space to be able to do some trial and error in the beginning.

You can access advice and make valuable contacts by joining industry associations. Most individual industries and professions have their own trade associations, but there are also organizations that support businesses of all kinds.

Take a good look at your competitors in the industries you are interested in. If you had to leave for ten years, in which share of your competitors would you invest all your money and why? The answer to this question should give you some great tips and ideas for when you start the same business.

The UK Chambers of Commerce are a network of 53 regional branches representing tens of thousands of businesses.

They aim to: “Support and connect businesses, bring businesses together to build new relationships, share best practices, drive new opportunities and provide hands-on support to help member companies trade locally, nationally and globally. to conduct.”

I suggest you join the Federation of Small Businesses (FSB). They offer members a range of business services, including advice and financial expertise, an online library, debt collection support and more. Their stated mission is to “help smaller businesses achieve their ambitions”.

The FSB also has an excellent legal service that can assist you, and this is all included in the membership.

Dave’s tips

Invest in yourself and learn to communicate better. Communication skills are fundamental, both in writing and in person, and these skills will increase your net worth in business by at least 50 percent.

A Dale Carnegie course is a handy tool to have in your toolbox; you need to be able to present your ideas to your team, your clients and your customers. If you invest in yourself, no one can take it away from you. Excellent communication skills will help you start your business in a very positive way.

The most important thing to remember is that you need to make a profit.

Stay focused on your core goals, keep the money rolling in and the rest should fall into place. You don’t have to be brilliant to do business; you just need to avoid the big mistakes!

You mentioned that you had run a successful business in the past, which puts you in a great place to start another business.

Remember that many consultants and business teachers in schools and colleges have never run a business. This is a bit like getting on a plane with a pilot who has read all the books and watched all the DVDs but has never taken off! On the other hand, you have run a successful business, so you will be miles ahead of many.

Try to stick to a business or trade you understand, and you won’t need too much advice to build a profitable business. If you do well enough, other people and competitors may also ask you for advice.

Good luck!