A prototype is a representation of a product idea, whether it is a simple model you put together yourself, a 3D print out or a highly refined version produced by a prototyping firm. Several prototypes are likely to be built, assessed and tested before a product comes to market.
A SWOT analysis looks at your strengths and weaknesses, and the opportunities and threats your business faces.
Whether you are forming your first business or adding to an existing one, it pays to set it up correctly. Choosing the wrong business structure exposes you to unnecessary costs and risks.
Marketing is about much more than simply promoting your business. Marketing helps you understand your business environment, identify the most promising opportunities and exploit them.
If you have a promising business but cannot provide the security needed for a conventional bank loan, the Government’s Enterprise Finance Guarantee scheme may be what you need.
Your business plan should be the roadmap for how you run your business - and it’s vital if you want to attract finance. Follow our tips to create your plan.
As the owner-manager of a small or medium enterprise, your own financial affairs are likely to be closely entwined with the way you run your business.
Identifying a business that you want to buy is only a first step. Approaching the purchase in the right way is key to making the most of the opportunity and avoiding potential pitfalls. Careful checking and skilful negotiation are essential
Thorough research is essential before you start exporting. Research helps you identify the best opportunities, understand how to sell into new markets and avoid costly mistakes.