SPRING and the new tax year brings a rise in the launch of new businesses.
This year, with the cost-of-living crisis, the number of start-ups has spiked, with one in three adults considering beginning a micro company or side hustle.
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Under-25s are the keenest, with 48 per cent exploring becoming an entrepreneur.
Forty-four per cent of businesses begin as a side hustle, the Enterprise Nation Small Business Barometer shows.
So how can you turn your idea into a real small firm?
Here, start-up specialist Emma Jones, founder of enterprisenation. com, shares her five top tips . . .
1. Do your research. First, test your product on friends and family then take it to a wider, less biased audience.
Use social media to try out the market.
Work out what people would be prepared to pay for it.
Then calculate if that allows you to make enough profit.
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2. Create a business plan. A good way to look at this is I’M OFF — Idea, Market, Operations, Financials and Friends, which includes advisers.
You can make a business action plan for free at enterprisenation.com/strive.
3. Start selling. Anyone can reach a global audience through marketplaces like Amazon, Etsy and eBay, but factor in costs for packaging, shipping and returns.
4. Get paid. Being paid on time is vital. If you’re using market-places, the cash comes through automatically. If not, get used to regularly invoicing — and chasing.
5. Upskill and network. Once you’ve got work coming in, start networking to widen your contacts and skills.
Businesses that take advice or find a mentor do better than those that don’t.
ASMINA’S BUSINESS
Asmina Choudhury launched her “modest fashion” business Khemar — meaning cover — on March 19 this year, three days before the start of Ramadan.
As a Muslim she wanted to develop a modest but stylish clothing range for women and girls, but has already added a line for men.
The mum of four is running the business as a side hustle while working part-time at a local housing association, but is already planning to sell online and take on her first employee.
Asmina, 45, from Oldham, said: “Many Muslim women have been stuck in tracksuits and boring clothes for many years, so the buzz and response on Instagram and TikTok has been incredible and almost went viral.
“Even though there’s a cost-of-living crisis, young people are still buying into trends.
“When you start a business, profit margins are not the most important thing. In the early stages I’m looking to break even and move in the right direction.”
Job spot
CITY Facilities Management is looking for refrigeration engineers and refrigeration case maintenance technicians throughout the UK.
For details call Mike Branagan on 07870 151 157.
Tats and tequilla
GET a free tattoo or shot of tequila at a Ruby Hotels open day for prospective employees.
All jobs are 35-hours-a-week positions, and vacancies include bartenders, housekeepers, waiters and hotel technicians.
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The event takes place today from 2pm to 7pm at Ruby Lucy, Lower Marsh, Central London.
A spokesman said: “We’re always looking for friendly faces and passionate team players.
“Not perfect CVs, but great personalities, who’ll help us create hotels and workspaces with character and soul.”
Find out more at rubyverse.com/career.
Scholarship aid
AS part of National Scholarships Week which ends today, financial wellbeing platform Blackbullion has teamed up with leading businesses to offer £350,000 of scholarship funding.
Research shows that one in 11 students has considered dropping out of university due to the cost-of-living crisis, needing an average of £548 a month more to keep studying.
Vivi Friedgut, founder of Blackbullion, said: “Through this programme, businesses have the opportunity to invest in the future of their workforces.”
See business.blackbullion.com/corporate-scholarships.
How to impress AI bots
ARTIFICIAL intelligence has hit headlines with Tesla boss Elon Musk and Apple co-founder Steve Wozniak calling for a six-month halt on research into it.
But the tech is already used to screen job applications.
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Here HR expert Tim Rowley, from the freelance platform People Caddie.com, reveals how to win over the AI hiring managers.
1. Include your LinkedIn URL in your CV.
AI bots can check your LinkedIn profile to verify content in your CV, confirm your contact details, and identify connections who can be strong references.
2. Use AI tools to optimise your CV and cover letter.
Tailoring these can take time, so explore AI chatbots and prompt them to help you alter the wording you use.
But ensure what the bots suggest is still accurate.
3. Put your skills in context. Nowadays bots are advanced enough to analyse your skills.
Ensure you list yours and also demonstrate how you use them at work.
4. Prepare for your first interview/screening to be by AI.
Consider using ChatGPT, an AI chatbot, to generate a set of common questions, based on the job description, to practise answering.
Bots can also be trained to evaluate your clothes so dress appropriately.
5. Maintain a professional online presence.
Because AI can alert employers to undesirable or inappropriate social media content.
Jobspot
The Pilgrims Friend Society, which supports older people in its residential care homes and independent living housing scheme, needs carers, housekeepers and cooks.
Search vacancies at pilgrimsfriend.org.uk/jobs.
This post first appeared on thesun.co.uk
