Starting a Business During a Pandemic

When is the best time to start a business?

For most of us, the prospect of starting a business will float through our minds and dissipate as quickly as it comes. Even for the truest of entrepreneurs, this possibility lingers but never seems to materialise.

When is the best time to start one then, one may ask?

That time is now!

Throughout history, it has been shown time and time again that with every major crisis comes an economic boom. As lockdowns end and restrictions lift, the opportunities for new business is vast, all you need is a clear idea and the determination to succeed!

At NEXA, we love supporting businesses as they grow, and we believe there couldn’t be a more suitable time than now.

Building your New Business

Creating a business is one of the most rewarding journeys an individual can embark on. The first and foremost step is to decide on the type of business you want to create and produce a business model and proposal you desire.

It is hugely important to balance the play on both your strengths and passions, the best advice is to focus on what you know and love!

This may not necessarily mean that you should stay in the industry you’re experienced in. An important aspect of creating a business involves observing recent trends and finding the gap and target market in the economy. This way you can define your unique selling point and be confident in marketing yourself.

Especially during these unprecedented times, the small business economy has expanded at an exponential rate. This is a great opportunity to consider transferring existing skills to newly thriving sectors, identifying and subsequently serving the constantly evolving consumer/business need.

Another essential detail in building your business is creating a pragmatic and sensible budget for capital and operating costs. This is a great tool to aid with planning, avoiding unwanted surprises and increasing the attractiveness of your business to future investors.

Although there is a lot of hard work to begin with for the start-up entrepreneur, we at NEXA accountants can help at every step of the way. By outsourcing the time-consuming tasks such as payroll and general accounting services, you can streamline your time into focusing on what matters – your business growth and goals.

Marketing your new Business

An essential tool in growing your business, marketing is the springboard in which new opportunities and possibilities arise, paving the way to successful and continuous growth.

Nowadays there is a huge variety of platforms in which to conduct your marketing, ranging from more traditional methods such as distributing flyers, purchasing billboard space and TV adverts to the more modern approach of social media.

Identifying your target market is key when it comes to deciding which marketing channels would be most effective.

At NEXA accountants we have helped many start-up entrepreneurs move from the beginning stages to impressive levels growth and success. Our comprehensive accounting service and advice can provide for your needs every step of the way.