Starting your business

Starting a business can be tough but rewarding. You should ensure that you do plenty of research before you start. We have included some key considerations to keep in mind at the start of your venture:

  • Research and survey your target market

We suggest that you visit British Library Business & IP Centre (BIPC) or CENTA as your first ports of call. The library offers a range of face-to-face advice sessions as well as workshops and events to help you with everything from writing a perfect business plan to funding advice. CENTA is a leading business support organisation based in Camden that can help you access advice, grants and start-up loans.

  • Business Plan

A business plan should set out what you want to achieve and how you plan to do it. The business plan will help you develop, grow and manage your business and is essential if you need to raise finance for your business.

  • Finance, tax and national insurance

You should consult HM Revenues and Customs (HMRC) to find out which records you should keep. HMRC have a range of free webinars for the self-employed and those employing staff to explain the regulations.

  • Access Support

There are a number of business networks across Camden that may be useful in building partnerships and accessing support.

Growing your business

We understand that growing your business can be challenging. There are a number of business support and enterprise agencies at the London Growth Hub that offer support to help you start or grow your business. They can offer you:

  • Information and guidance on how to start or grow your business
  • Events and seminars on business growth
  • One-to-one support from experienced advisors
  • Support on how to access finance for your business

Business Finance

Raising finance can be one of the most important elements to the success of your business. There are a number of resources available at the London Growth Hub website to help you to raise finance to fund your growth ambitions. Some of which are:

  • Business finance (gov.uk site) offers information related to different forms of finance for business along with search options for finance schemes relevant to your business.
  • The Start Up Loans Company, a government backed funding scheme that comes with free business support, including mentoring and advice services.  
  • London Co-investment fund, founded and managed by Funding London and Capital Enterprise, are always looking to invest in high growth tech, science and digital start–ups.
  • Newable  are a responsible lender aiming to support business people to start, sustain and grow their companies.
  • Innovate UK  aim to drive productivity and growth by supporting businesses to realise the potential of new technologies, develop their ideas, and build commercial success.

Know your tax requirements

It is important for you to consult HM Revenues and Customs (HMRC) to find out which records you should keep. HMRC have a range of free webinars for the self-employed and those employing staff to explain the regulations.

Recruitment

The advantages of recruiting locally

Recruiting locally not only gives you an insight into your local community and customers but also offers benefits including reduced absenteeism and improved retention of staff.

Our partners and we offer a range of free services to help Camden businesses recruit staff locally. There is also additional guidance to support you in implementing flexible working in your organisation, and in creating healthier and more inclusive workplaces.

Apprenticeships

Apprenticeships are work-based training programmes designed around the needs of employers, leading to national recognised qualifications and providing the skilled workers you need for the future.

Training apprentices can also be more cost effective than hiring skilled staff, leading to lower overall training and recruitment costs.

Camden Apprenticeships offers free support to employers in and around Camden to set up apprenticeship schemes and recruit the best Camden young people for their business. We have already placed over 500 apprentices into work with local employers and have a strong candidate pool ready for apprenticeships in all different industries and sectors.

More information on Camden apprenticeships.

Jobcentre Plus

Jobcentre Plus offers practical recruitment support and advice to employers, including help with:

  • Pre-employment training (specific to your job requirements)
  • Agreeing new ways to help people work in your business e.g. by offering flexible working patterns
  • Reviewing your recruitment processes to make sure they don’t exclude anyone unnecessarily

Find more information at .GOV.UK

King's Cross Construction Skills Centre

King's Cross Construction Skills Centre have a specialist, job brokerage team that provide information advice and guidance to Camden and Islington residents looking for work and training within the construction industry.

The team work with a variety of construction contractors and sub-contractors in Camden, and across London, offering apprenticeship and employment opportunities for residents.

The team provides specialist advice to the employer, directly supporting them with all of their hiring needs, from initial recruitment to post employment support.

For more information, contact the King's Cross construction skills centre.

Email: kxcinfo@camden.gov.uk

Telephone: 020 7974 5161

Offering work experience

Providing work experience is a great opportunity for businesses to bring fresh ideas into the organisation, and to build stronger links with their local community. Placements also offer a chance for staff to gain supervising and mentoring experience.

Camden can provide free support to help you to find a suitable local school to work with. We are also available to answer any questions or concerns you have before you take on a work experience student.

Please contact our Schools Brokerage Manager for more information.

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