How to start a business from a young age

Yell has found that entrepreneurial spirit from a young age is on the rise. We pooled the top tips from successful entrepreneurs to help fuel the next generation of small businesses. Start small It’s a common misconception that it’s expensive to start a new business, but a recent survey by Yell Business revealed that 40% of…

Yell has found that entrepreneurial spirit from a young age is on the rise. We pooled the top tips from successful entrepreneurs to help fuel the next generation of small businesses.

Start small

It’s a common misconception that it’s expensive to start a new business, but a recent survey by Yell Business revealed that 40% of small businesses are created on less than £500. There are also a plethora of new business grants and low interest loans available, so it’s worth researching the best way to get that initial funding.

Solve problems

Use your own experiences as a platform for idea creation. If you’ve experienced a problem or seen a gap in the market, you’re probably not the only one so it’s always worth exploring what the demand might be and doing your research.

Seek support

Explore online tools to help you learn the basics of business. YouTube, SkillShare and various blogs offer tips and advice on how best to get started on your entrepreneurial journey; from creating websites to tackling a profit and loss account! Visit trade shows and talks to get the inside track, as well as investing time in reading relevant books.

Learn through application

The best way to learn is to do. Find similar businesses which offer internships to help up your skill set or to get some insight into the industry you want to break into. This also helps you find out how to differentiate your business to create new and exciting offerings to your customers.

You’re never too young

Age is but a number when it comes to business. A great idea, passion and the drive to succeed are the most important factors. If you’re under 18, you may need to look to elders for additional support when it comes to finances, but it’s never too soon to start carving your future.

All statistics, unless noted are taken from a survey of 1,500 small business owners and 1,500 consumers by Yell Business in February 2017.