3 great resources for UK startups
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Launching a startup is like strapping into a rollercoaster: brace yourself for a thrilling rush of highs and lows, as running a small business demands both courage and commitment.
Just like a rollercoaster ride, business ownership is exhilarating and it’s not that easy to disengage if you decide you want to get off!
Ambition and hard work can get you a long way, but knowing where to get advice, support and practical resources often determines how smooth or rocky your entrepreneurial journey will be. This is particularly true for some of the more complex aspects involved in building a business, such as legal, accounting, or skills training.
These platforms offer expert advice and are tailored to the specific challenges faced by emerging businesses in the UK.
So let's dive in and explore how each of these resources can elevate your startup.
1. Lawbite
Legal obligations and responsibilities can be daunting and potentially expensive! But they don’t have to be.
A YouGov survey found that UK SMEs pay a staggering £13.6 billion for avoidable legal issues every year, simply as a result of neglecting to manage their legal responsibilities properly. The average amount was £7,000, a hefty sum for most new businesses. When polled, 52% of survey respondents said that failure to use a lawyer had directly led to them paying more.
But it's not just about avoiding pitfalls; it's also about harnessing the law as a tool for growth. That's where Lawbite comes into play.
Designed to make legal support accessible, Lawbite focuses specifically on the challenges that new small businesses face, offering a variety of services tailored to suit their unique needs.
From commercial contracts and employment law to intellectual property protection, Lawbite has a rich palette of offerings.
Unlike traditional law firms that can be costly and intimidating, Lawbite provides flexible pricing plans and even offers online consultations - ensuring you get quality legal advice without breaking the bank or wasting time in a waiting room.
They also boast a robust library of legal templates and documents, giving startups the power to create secure, legally vetted agreements on the fly.
The question isn't whether startups should invest in legal resources but rather how they can afford not to. A single legal misstep can have repercussions far more expensive than any upfront legal fees.
By enlisting the specialised services of Lawbite, startups not only minimise risks but also equip themselves with the legal scaffolding required for scalable growth.
2. Crunch
When it comes to balancing your books and staying on the safe side of tax compliance, Crunch stands out as a safe space for small and growing businesses. Created by entrepreneurs who've walked the startup journey themselves, Crunch offers a suite of online accounting services tailored for both sole traders and limited companies.
For sole traders, Crunch takes the headache out of self-assessment tax returns, income tracking, and invoicing, letting you focus on what you do best - running your business.
Limited companies can benefit from a wider set of services, ranging from VAT filing and Corporation Tax to director's payroll, all managed through their easy-to-use platform.
What truly sets Crunch apart is their down to earth, human approach - often overlooked in the digital age. With Crunch, you get real-time support from expert accountants who understand the unique financial needs and challenges of SMEs. This relationship isn't just transactional; it's a partnership aimed at helping you grow sustainably.
Crunch's history as a grassroots business adds a layer of empathy and expertise to their services.
They don't just offer accounting solutions; they share your entrepreneurial spirit and are committed to journeying alongside you.
With Crunch, you get more than an accounting service; you get a financial partner invested in your success.
3. Smarta
The startup world is fraught with pitfalls that can slow down growth and stifle the progress of even the most promising ventures. Smarta serves as a strategic ally, equipping SMEs with crucial skills and valuable insights from a team of entrepreneurs who’ve been there, done it and got the scars.
Specialising in support for ambitious founders plus, training and development, their offerings span from eLearning courses to personalised coaching sessions, covering topics like marketing strategies, financial literacy, and business planning.
According to statistics, the value of business coaching is difficult to overstate.
A past study conducted by the International Coach Federation found the median ROI of coaching is 7x the investment.
And that 28% of companies saw an ROI of 10-49x the investment.
Smarta’s on-demand eLearning modules are more than just convenient; they're an expansive resource that startups can tap into anytime, anywhere. These digital courses are designed to fill knowledge gaps, helping founders to upskill their teams to make informed business decisions.
Startup journeys are rarely linear, and having a seasoned mentor can be a game-changer. Through personalised coaching sessions, startups receive tailored advice that helps sidestep common missteps, turning theoretical knowledge into actionable wisdom.
The importance of expert coaching must be strongly emphasised. It acts as a catalyst, accelerating development and ensuring your startup doesn't just survive but thrives.
With Smarta, you're not just acquiring new skills; you're gaining a strategic advantage that propels you further, faster.
Three is the magic number
Above all, starting any kind of business requires determination, courage and commitment. You need a genuine drive to succeed, and a belief in your ability to bring your vision to life.
Like any new project, building a business is a learning curve and an opportunity to develop new skills. Resources provided by Smarta, Crunch and Lawbite can speed this up!
Lawbite can help you remain compliant with your legal responsibilities, and operate safely with the UK’s legislative environment for startups.
Crunch can provide first-class financial management tools as well as useful insights and guidance on tax issues from small business accounting experts.
Smarta coaching or eLearning allows you to access guidance and training to gain confidence in your decision-making and improve your business skill set.
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