Business
Start-Up and
Forecasting
Objectives

The definition of business start-up

Advantages and disadvantages of starting a new business

Types of businesses and legal structures

The role of entrepreneurship in business start-up

The role of the government in business start up

And key elements many start-ups should consider if they
are to reduce the risk of failure.
Definition of Business Start-Up –
So what is a business start-up?
A business start-up is a new business venture or company that is initiated by an entrepreneur with
the aim of generating profits.
An excellent example of a business start-up is Airbnb, which was founded by Brian Chesky and Joe
Gebbia in 2007 as a way to rent out air mattresses in their apartment to attendees of a design
conference.
Advantage of Starting a New Business
Starting a business offers advantages such as being your own
boss, potential for high profits, creating jobs, and making a
positive impact in the community. Warby Parker is an example
of a successful start-up founded by four students with the aim
of providing affordable, fashionable, and high-quality eyewear.
Disadvantages of Starting a New Business
Risk of failure, significant financial
investment, need for knowledge and
skills, high stress, and impact on
personal/family life.
Example: Juicero.
Types of Businesses and Legal Structures in the US
There are several types of businesses and legal structures in the US, including sole
proprietorships, partnerships, limited liability companies (LLCs), and corporations.
An example of a US corporation is Apple Inc., which is a multinational technology
company that is publicly traded and headquartered in California.
Types of Businesses and Legal Structures in the US
• Sole Proprietorships
(Example Freelancer)
• Partnerships
(Example Ben & Jerry’s)
• LLCs
(Example MailChimp)
• Corporations
(Example Amazon)
Types of Businesses and Legal Structures in the UK
• Sole Traders
(Example Innocent Drinks)
• Partnerships
(Example Allen & Overy)
• LLCs
(Example ASOS)
The Role of Entrepreneurship in Business Start-Up
• Process of creating, developing,
and managing a new business
venture to generate profits.
Example: Elon Musk.
The Role of Governments in Business Start-Up
Governments play a critical role in
supporting business start-ups.
An example of a government program
that supports start-ups is the US Small
Business Administration, which provides
loans, grants, and training to small
businesses.
Laws Supporting US Start-Ups
US laws supporting start-ups
include the Small Business Act
and the JOBS Act.
Example: Coinbase.
Laws Suppressing US Start-Ups
US regulations that could
suppress start-ups include tax
laws and regulatory frameworks.
Example: Uber.
Laws Supporting UK Start-Ups
UK laws supporting start-ups
include SEIS and EIS.
Example: TransferWise.
Laws Suppressing UK Start-Ups
UK regulations that could
suppress start-ups include
GDPR and IR35.
Example: Deliveroo.
Business Planning for Start-Ups
Critical process for any new
business start-up.
Example: Airbnb.
Financing for Business Start-Up
Critical aspect of any
successful business startup.
Example: Uber.
Marketing and Advertising for Start-Ups
Essential components of a
successful business start-up.
Example: Dollar Shave Club.
Technology and Innovation in Start-Ups
Crucial role in the success of
many start-ups.
Example: Tesla.
Scaling and Growth for Start-Ups
Important goals for many
start-ups.
Example: Amazon.
Challenges and Risks in Start-Ups
Starting a business can be a challenging
and risky endeavour.
An example of a company that faced
significant challenges early on is Airbnb,
which faced regulatory hurdles and legal
challenges as it grew its business.
Entrepreneurship and Innovation in the
Future
Likely to be essential drivers of
economic growth and development in
the future.
Example: Social entrepreneurship.
Examples of Successful Start-Ups in the US
Examples include Uber, Airbnb, Warby
Parker, and Dropbox.
Example: Warby Parker.
Examples of Successful Start-Ups in the UK
Examples include TransferWise, Monzo,
Revolut, and BrewDog.
Example: Monzo.
The Importance of Networking in Start-Ups
Critical component of the success of
many start-ups.
Example: LinkedIn.
The Impact of Social Media on Start-Ups
Social media has had a significant
impact on the way start-ups market and
promote their products and services.
Example: Glossier.
Diversity and Inclusion in Start-Ups
Essential components of a successful
business start-up.
Example: Salesforce.
The Impact of COVID-19 on Start-Ups
Significant impact on the start-up
ecosystem, with many companies facing
unprecedented challenges and
disruption.
Example: Peloton.
The Importance of Adaptability in Start-Ups
Adaptability is a critical skill for any successful
start-up, as the business environment is
constantly changing and evolving.
An example of a company that has
demonstrated adaptability is Slack, which has
been able to pivot its business model to meet
the needs of remote work during the pandemic.
The Ethics of Start-Ups
Critical consideration for any new
business venture.
Example: Facebook.
The Future of Start-Ups
Likely to be shaped by trends such as
automation, artificial intelligence, and the
gig economy.
Example: Alternative protein companies.
Conclusion
Starting a business can be a challenging
but rewarding experience.
This Photo by Unknown Author is
licensed under CC BY-SA-NC
BY-NC
This Photo by Unknown Author is
licensed under CC BY-NC-ND
This Photo by Unknown Author is
licensed under CC BY-SA
This Photo by Unknown Author is
licensed under CC BY
The way to get
started is to quit talking
and begin doing.
Walt Disney