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Becoming your own boss

Starting up a business as the economy emerges from one of the fiercest double-dip recessions in recent times - and indeed, without any guarantee it won’t become a triple-dip affair - may not sound like the most enterprising idea.

But in reality, the current financial downturn has done little to dampen the entrepreneurial spirit felt by many in the UK. A recent survey conducted by market research company Toluna revealed that 52 per cent of people in Britain would consider starting up their own business within the next two years.

XLN is the small business specialist and is passionate about encouraging people to set up their own business. If you’ve thought about working for yourself, but you’re unsure of whether it’s a good idea or not, read our top tips for starting up your own business below:

Answer to no-one

For many budding entrepreneurs, the main attraction of starting a business of their own lies in making the choices they’re usually excluded from when working as a part of a major company.

These choices can vary from working out company strategy to deciding whether or not to have an extra hour in bed. Getting creative and dealing with the challenges yourself, big or small, can be hugely satisfying.

Variety

For those people who hate performing the same mindless duties day in and day out, becoming a small business owner can feel like a new lease of life.

Dealing with marketing one minute and finance the next means starting a firm will keep you on your toes and stretch your potential to the maximum.

Doing something you love

If you’re still looking for a reason to hand in that notice straight away, consider this: starting up your own business can allow you to work at something you feel genuinely passionate about.

If you make the right choices with regards to your fledgling business, you could see yourself spending more time doing something you love and less time doing the mindless drudgery you might be used to.

Of course, that doesn’t mean you’ll enjoy every aspect. Cashflow spreadsheets and endless tax reports aren’t everyone’s idea of a good time. But if you’re doing what you love, it’ll make the time spent doing other things far more bearable.

Tips and advice

Adopting a methodical approach will help you to build your budding business empire upon firm foundations. Make sure you have read up on the basics of cashflow, tax, insurance and health and safety before diving straight in, as ignorance can cost you dearly if you fail to consider the essentials.

For example, go with a small business specialist like XLN Telecom. Choosing a company which specialises in providing business grade service is important. If your phone or internet stops working for whatever reason, you need it fixed immediately and residential providers simply don’t have the same urgency and turnaround times as a business provider. Your business is too important to risk it just to save a couple of pounds a month with a residential telecoms company.

By staying organised, doing your research and making decisions based on careful judgements, you’ll have a good chance of not only making a splash, but staying afloat for a long time.

To encourage and help new businesses XLN are giving away 2 years’ worth of business broadband and business phone line which includes free installation and a wireless router.

With more than 130,000 SME customers in the UK, XLN have the expertise and experience to offer the guidance you need to set up a business.

For your chance to win 2 years’ worth of free business broadband and line rental, leave a comment on the article stating why you’d like to win.

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