I want to start my own business? (UK only)?

-Well i've always loved the idea of having my own business, I just need a little help with what to do about it. I'm only 18, so obviously I don't have loads of money to spend on this idea.

I like the idea of having a place to sell piercing jewellery, and I personally find it hard to get the proper jewellery, as well as many people in my area I know. I have a place in mind, and my parents have already spoken to the person who is leaving their business. I just need some tips on what else I could have in a shop like this, obviously I can't fill a whole unit with jewellery, I need some other things too. I also wanted to know if anyone knew there was some sort of help or business loan for people my age?

Any advice or tips is greatly appreciated, as I am extremely new to all of this.It might work and who says you couldn't make a success of it!? The key thing here is to minimise your risks. To do that, start working on a business plan immediately, if you haven't already..



A good starting point is to do a Working Document....just create a Word doc or similar and paste in anything you find or discover that's relevant/interesting (note your sources). Later you can use the info in a more formal document.



Buy a book on business planning and work through it. And try and find people who will look at things from a different viewpoint (and who don't feel obliged to encourage you or avoid hurting yr feelings!).



Is there any way you can do a pilot study: buy some stock and sell on Ebay or at a market stall or boot sale?...get a feel for what sells and what doesn't and how much you'll need to sell to be able to make some proper money.



Although you have seen a place available I would suggest holding fire and maybe spending a as long as a year even getting the footwork done and some sales work under your belt. The way things are now there are going to be a lot of empty premises!



Wish you every success!I am all for encouraging youngsters to set up their own business. HOWEVER with no experience you are going to fail and ruin your life as you sink into debt.



Get a job and see how the firm works, there are so many things you don't know about yet which can scupper your business!

When you have a few years experience and some money saved is the time to start your own business - NOT BEFORE.