Welcome
to the
Business Start-Up Programme
Workshop 1
‘The Essentials’
St Helens Chamber
• St Helens Chamber’s mission is to support our
members and enhance the economic success of
St Helens’ businesses and people
• We are an independent, non-governmental
organisation providing confidential and impartial
advice to new and existing businesses.
Support for your
business…
A
Business
Adviser
Business
Start-Up
Business
Planning
Business
Training
EKS
Support
Services
Premises
Supply
Chain
Property
Information
Access
To
Finance
Systems
Health
&
Safety
EKS Business Start-up:
‘The
Essentials’
Start-up
Workshops
Business Plan
Action Plan
On-going Support
Why start a business?
The Essentials
Is my idea viable?
Marketing/Trading Standards
Will people buy from me?
Staying in control
Finance
Business Planning/Banking
Bookkeeping/VAT
Legal Issues
Funding
Tax & NI
One to One Advice With An Accredited Business Adviser
‘The
Essentials’
Why start a business?
Start-up
Workshops
Business Plan
Action Plan
Why start a business?
Is my idea viable?
Will people buy from me?
Staying in control
Legal Issues
Funding
Unemployed ?
£
Returning
to work ?
On-going Support
‘The
Essentials’
Is my idea Viable?
Start-up
Workshops
Business Plan
Action Plan
On-going Support
Why start a business?
Is my idea viable?
Will people buy from me?
Step 1
 Understand Profit & Loss and budgets
Step 2
 Decide your profit target
Staying in control
 Calculate sales needed to meet your profit target
Calculate number of customers/orders needed to meet
your sales target
Legal Issues
Funding
 Check viability
Is my idea viable?
Profit & Loss:
Sales
Less
Costs
=
Target Profit (£)
Is my idea viable?
Sales
Less
Variable Costs
(Materials + Labour)
Gross Profit
Less
Fixed Costs:
Salaries & Wages
Premises
Marketing
Vehicle Costs
Accountancy Fees
Telephone
Post & Stationery
Financials
Net Profit/Loss
Is my idea viable?
Sales
Less
Variable Costs
(Materials + Labour)
Gross Profit
Break Even
Less
Fixed Costs:
Salaries & Wages
Premises
Marketing
Vehicle Costs
Accountancy Fees
Telephone
Post & Stationery
Financials
Net Profit/Loss
Is my idea viable?
Monthly Sales Forecast
Sales
Less
Variable Costs
(Materials + Labour)
1
12
Gross Profit
Less
Fixed Costs:
Salaries & Wages
Premises
Marketing
Vehicle Costs
Accountancy Fees
Telephone
Post & Stationery
Financials
Budget
Profit & Loss
Net Profit/Loss
Cash Flow
Is my idea viable?
Marketing
Sales
Less
Variable Costs
(Materials + Labour)
Gross Profit
Break Even
Less
Fixed Costs:
Salaries & Wages
Premises
Marketing
Vehicle Costs
Accountancy Fees
Telephone
Post & Stationery
Financials
Net Profit/Loss
‘The
Essentials’
Start-up
Workshops
Business Plan
Action Plan
Why start a business?
Is my idea viable?
Will people buy from me?
Staying in control
Legal Issues
The Four Ps of
Marketing:
Product & service
Place in the market
Price
Funding
Promotion
On-going Support
‘The
Essentials’
Why start a business?
Is my idea viable?
Will people buy from me?
Staying in control
Legal Issues
Funding
Start-up
Workshops
Business Plan
Action Plan
Product & service
Branding
Functionality
Styling
Quality
Safety
Packaging
Repairs and support
Warranty
Accessories and services
On-going Support
‘The
Essentials’
Why start a business?
Is my idea viable?
Will people buy from me?
Staying in control
Legal Issues
Funding
Start-up
Workshops
Business Plan
Action Plan
Place in the market
 Distribution channels/Centres
Market coverage
Inventory management
Warehousing
Order processing
Transportation
On-going Support
‘The
Essentials’
Why start a business?
Is my idea viable?
Will people buy from me?
Start-up
Workshops
Business Plan
Action Plan
On-going Support
Price
 What will you charge?
Suggested retail price
Volume discounts/ wholesale pricing
Staying in control
Legal Issues
Cash/early payment discount
Seasonal pricing
Bundling
Funding
Price flexibility
‘The
Essentials’
Why start a business?
Is my idea viable?
Will people buy from me?
Staying in control
Legal Issues
Start-up
Workshops
Business Plan
Action Plan
Promotion
How will I promote my business?
How will I keep my customers?
Advertising
Personal selling & sales force
Sales promotions
Public relations & publicity
Communications budget
Funding
On-going Support
‘The
Essentials’
Start-up
Workshops
Business Plan
Action Plan
On-going Support
Why start a business?
Is my idea viable?
Performance management
Will people buy from me?
 What business performance information
should I measure?
Staying in control
Legal Issues
Funding
 How should I collect the information
 Who should be responsible for reporting the
information?
Management Control
Function
KPI’s
Request For Quotation (RFQ’s)
 No. of RFQ’s/month
Sales & Marketing
Estimate/Quotation
 Conversion rates.
 Cost of acquisition
Receipt of Order
Plan & Execute Work
Operations
 Delivery
 Quality
Deliver To Client
 Cost
Invoice
 Financial reporting.
Finance & Admin
Receive Payment
 Credit control
Key Management Control Skills

Business Skills
 Time Management
 People Management
 Attitude
‘The
Essentials’
Why start a business?
Is my idea viable?
Will people buy from me?
Staying in control
Legal Issues
Funding
Start-up
Workshops
Business Plan
Action Plan
Insurance
 Public liability
 Employee liability
 Professional indemnity
Record Keeping
 All financial transactions
 Health & safety
 Employee files
Business Bank Account
Trading Status
 Sole-trader/partnership
 Limited Company
On-going Support
Legal Issues – Legal Status
Directors/ Shareholders
Liability
Sole-trader/ Partnership
Limited Company
Asset Value
Assets
Liabilities
Self Assessment
Tax
PAYE
Class 2 & 4
NI
Class 1
‘The
Essentials’
Why start a business?
Is my idea viable?
Will people buy from me?
Staying in control
Legal Issues
Funding
Start-up
Workshops
Business Plan
Action Plan
Sources of funding
• Own
money
• Bank loan & overdraft
• Family & friends
• Grants/Loans
On-going Support
Workshop Links
The Essentials
Why start a business?
Viability assessment
Marketing Management control
Business Planning
Legal issues
 Front Page
Funding
 Executive Summary
Marketing
 The Business
Product & service
 Market
Place
 Operations
Price
Promotion
Finance
Profit & Loss
Cash flow
Balance sheet
 Finance
 SWOT Analysis
 Action Plan
Things to do
1.
2.
3.
4.
5.
6.
Think carefully about your business idea, it is viable?
Why do you want to start a business?
Where do you want it to be in three years’ time?
Be realistic about your goals.
Speak to other people who’ve started their own business
Be careful when talking to your friends and family about your idea –
they may be biased
7. Get professional advice before making any important business
decisions
8. Make time to do your market research. It’s critical to your business
success.
9. Assess your skills and think about getting some training to
increase your business know-how
Keep in touch!
Keep in touch with each other,
chat and network on Linked in.
www.linkedin.com
Join the ‘Business Start Up
Group’ and then join ‘The
Workshop Group’ subgroup to
keep in touch!
‘The
Essentials’
Start-up
Workshops
Business Plan
Action Plan
Why start a business?
Action List:
Is my idea viable?
• Attend Workshops
Will people buy from me?
• Complete Viability Assessment
Income needs
Staying in control
Legal Issues
Funding
Overheads (Running costs)
Number of customers available
Take Professional Advice
Call St Helens Chamber Business Start Team
on 01744 742000
On-going Support
Chamber Membership Benefits
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Discounted fee £45 for first 2 years (£140 Full price)
Employment advice and forms
Health & Safety Website and Helpline
Legal Expenses Insurance Cover and Advice
AA Vehicle/Fleet Assistance Breakdown Cover
Networking
St Helens Business Directory
Up to 50% off Chamber Services
Inter-member discounts
Web Directory
Use of Exclusive Members’ Logo
Thanks for
listening
The Entrepreneur Kick Start
Business Start-Up Programme