Today, more and more young people are choosing to run their own businesses rather than working in a company.
In addition to flexibility, having your own business also allows young people to carry out work in accordance with their hobbies and hobbies.
The experts also found that more and more young people, both millennial and Gen Z, are choosing to have their own businesses.
“30 percent (young people) aged 16-30 years want to try themselves for some time in their lives,” Stephen Warnham, a career expert at Totaljobs, was quoted as saying by Cosmopolitan UK.
He said, the concept of starting your own business can be fun. However, in practice this can be confusing and overwhelming.
“Instead of hurrying, it’s better to think carefully about what you have to do, what you have to sacrifice to achieve your business goals,” explained Warnham.
Before starting your own business, there are a number of things that you must do. The following is the description.
Before officially starting a business, you should have some money in your savings. Therefore, the best business ideas in the world will not end without savings.
If you need to borrow capital from a bank, do your research first. Look for working capital loan products that offer attractive and thorough interest rates and pay attention to collateral obligations.
Choosing a name for your business can be fun, but it can also make you dizzy. You must research to make sure your business name is unique.
“Do an in-depth intellectual property research before you go too far in business,” said Rob Williams, director at Hawthorn.
Williams said, often happens when business owners choose a name, create a cool site, or even have invested in the business, but in fact it violates the copyrights of others.
“Make sure correctly that you do not infringe the copyrights of others and register your brand copyrights before making expensive steps,” he explained.
Register brand and business
The next step is to register your business and brand. To register trademark copyrights, you can do so at the Directorate General of Intellectual Property Rights.
In addition, you also need to create a legal entity for your business, you can run a business safely and comfortably because you are already a legal entity and have a copyright.
Put together a business plan
A good business plan will contain everything you need, from market analysis to financial plans to future business projections. This also must be done carefully, because it can not be done in an instant.
“When you make a business plan, take the time as you anticipated. This will give you enough time to do everything, without disrupting the time line or launch date that you have set, “explained Williams.