Thoughts of new beginnings can be tomorrow’s businesses

WITH THE dawning of a new year come thoughts of new beginnings.

And in the business world that often means taking a daunting a leap into the unknown, often risking everything you know and have worked for in order to be your own boss.

Sadly, and for whatever reason, many start-up ventures fail and the experience can be shattering for those involved and their families.

But for every failure there is an inspiring story of an individual who has built their company up from nothing to a successful, prosperous and profitable concern.

The credit crunch and repeated recessions of the last five years have put increasing pressure on micro and small businesses, as households have cut back on their spending in favour of paying the bills at the end of the month.

And the austerity programme adopted by the UK Government to slash the country’s debt has only added to the challenges many are facing.

But ironically, the difficult economic backdrop has been the major reason for many brave individuals seeking out their own entrepreneurial path.

Many of those who have found themselves unexpectedly out of work with a redundancy package have used that as the push they needed to go out and start the business they always wanted to run.

Instead of being a drag on society through the benefits system, they have pulled themselves up by the bootstraps to become a net wealth creator and, in some cases, a source of employment for others.

High profile modern day entrepreneurs such as Sir Richard Branson, Mohammed Al Fayed and James Dyson all started out peddling small ticket items — records, lemonade and a new wheelbarrow design — and had the drive and vision to turn those tiny acorns into mighty business oaks.

Perth siblings Brian Souter and Ann Gloag built the public transport giant Stagecoach, a company that now employs more than 35,000 people worldwide, from scratch, while Sir Tom Hunter went from selling trainers out the back of a van to become Scotland’s first homegrown billionaire.

There are innumerable other examples of entrepreneurial success — on the international scene you need look no further than Facebook founder Mark Zuckerberg — which prove that being in charge of your own destiny is worthwhile both financially and in a personal capacity.

Of course, the overwhelming majority of start-up companies will never achieve anything like the success of these examples, but the UK economy has been built on the dreams of the start-up entrepreneur and a myriad of opportunities still exist for those with the courage to grasp them.

The SME sector is the lifeblood of UK PLC, and the economy — especially in the depressed state in which it currently finds itself — desperately needs those with the willingness and courage to go out on a limb to chase their business vision.

There is a huge support network out there, ready and willing to help transform raw ideas into sustainable businesses.

If your new year’s resolution is to create a new life for yourself then don’t hesitate — the possibility of being a captain of industry awaits.