BUSINESS ON WEDNESDAY VOL.

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So You Wanna Start a Business?

Of all the things in life that are unpredictable, starting up a business probably tops the list; theres finding a gap in the market as well as a thinking of an effective USP, theres pitching potential ideas to investors and of course the potential lifestyle change from a secure paying Monday to Friday 9-5 job and its impact on ones personal and social life. You can do as much market research as you want. You can do as many predictions as you want but there is always potential twists and turns out of your control. In todays economic climate such challenges are evermore critical and perhaps even more so if you have very little business experience. Many young people in particular would love to start their own business and if starting one was like the Olympic Games, it could well be a game of hurdles all round. But there are always opportunities out there and help is at hand for the next generation of would-be entrepreneurs in the form of the Start-Up Loans Scheme.

Chaired by ex-Dragons Den star James Caan and set up by the Government, this scheme to quote Prime Minister David Cameron does what it says on the tin. It offers 16-30 year olds loans of up to 2,500 to help set up a new business. The scheme has already received over 3,000 applications and its transforming lives. From my perspective, I can really see some genuine interest out there for people who want that opportunity to start their own business. James Caan says to the BBC. Now 2,500 may not seem like a lot of money and some have criticized the scheme already but if youre in that age bracket and want to start a business career here are some reasons why this scheme may be useful to you:

You receive more than just start-up capital: What makes this scheme worth considering is the additional help you can receive. Individuals on this scheme are placed with mentors who have once been in the same boat as them. Its not just about the amount Im getting its the support. The mentoring system that theyve got, thats gonna be the main thing for me says Aaron Clarke CEO of Get Real Magazine The chance to network: Youve probably heard the famous saying Its not always what you know but who you know too in business. Well, this couldnt be truthful. Having a mentor allows you to network with people who may have knowledge of market in which your business is in. Even if youre idea isnt successful you may learn something new along the way: Sometimes with business ideas some move from the launch pad and some dont. But thats no reason to give up. You may learn something new about yourself. You may develop new skills such as resilience (lets face it something which every entrepreneur needs) selling skills and marketing. You also realise that there are other routes to a career in business, not just the academic route.

So, if youre between 18-30 and are starting up a business there is help there for you. Grab the opportunity with both hands. You never know, your product or service could be the next big thing everyone is talking about. By Reiss Ferlance
www.globalswag.net