Is this the right time to start a business in Nottingham?
A question I am asked more frequently of late is "how is business going?", more commonly from other Nottingham business owners. Ever since the credit crunch struck, it is as if we all want to gauge how other companies are doing and how good their confidence is in the market place.
It is something that is uppermost in existing business owners' minds, but it must be even more so for those budding Nottingham entrepreneurs who are looking to dip their toes into business waters.
Now is the right time
I believe that not is the perfect time to start a business. I think this because I think that the market place is more fluid than normal, giving new business owners a better chance. During boom times, people and businesses alike stick to their favourite suppliers of products and services. They stay with those businesses with whom they feel comfortable. There is also an element of laziness in that it takes a lot of effort to switch supplier.
However, now that people are carefully watching their spending, they are much more likely to be looking for a new supplier. They do not necessarily want cheaper, but they do want better value for money.
What can you do better?
So look at ways you can better the general services offered by other companies in the field in which you want to become involved. What can you offer your potential customers that is better than the well established competitors. Your customers are likely to welcome your fresh views on the services and/or products as well-established businesses are often set in their ways.
So now is just the right time to start business in Nottingham. As a web designer, I am in the privileged position of witnessing the birth and rapid growth of these new businesses and also to be a participant in that success. I can tell you that it is happening and those who do it right, are enjoying a level of success that may surprise you.