Being pro-active when unemployed is very much advised; applying for plenty of jobs, asking companies if they have any openings and participating in internships. There is, however, one alternative that might be considered extreme, but if executed properly, very effective: starting your own business.

This is a case of hiring yourself instead of waiting for someone to come to you; obviously it’s not the easiest task to accomplish, but it’s perhaps not as hard as many believe. Entrepreneurs are getting younger with very new business, with some starting up companies as soon as they graduate from university (if not during their course).

Most setting up new businesses will have prior experience through their studies or have shadowed another company owner, but everyone looking to start something new will require a few tips.

Don’t be afraid to start a new business in the recession

Most people will tell you that it’s hard to start a new business in any environment, but don’t be put off starting one in the current economic downturn. The massive upturn to starting a company in such a state of financial disarray is that things can only get better, and you won’t actually feel the effects of the recession as you’ve not been around when times were good. In this scenario, any sort of boom will feel great; it’s just that you may have to wait a while before you feel it.

Ideas for the business: Looking to offer solutions to your own problems

Looking around at market analysis and sector research is certainly one way to go about getting an idea for a new business idea, but it can be very effective to look to your own problems and offer a solution to it. Many new businesses have become very successful by creating an answer to problems themselves and their friends have been affected by, but is something that no other company has looked to tap into.
What surprises many people is how simple both the problem and solution can be, this is usually because it is an issue that is often “in your face” and it is a case of conjuring up an  idea to solve it.

Tools for the job are already in your hand

In this modern world, it can be safe to say that most people of an age to start a new business will already have a laptop/computer and also likely have a smart phone; these are pretty much the essentials of starting up a new company as they possess everything you will require in terms of tools.

Through a computer you can communicate, create and administrate a business, whether it is organising your staff or making a company logo, you can do it on a computer. Make sure to look at ClearSky-HR.co.uk Employment Law if you are hiring your own staff and want to be mindful of HR solutions, as well as employment law services.

Don’t be afraid to use that credit card

Whereas back in the day getting a full-on loan was required to start up a new business, that’s not so much the case these days and if confident enough, you can get the ball rolling with the old trusty credit card. It is certainly an expensive way to go about it, but is the best way if you feel that you are destined to be a success. Remembering to ask for cash upfront on those first orders always helps too.

Take advantage of your background

Whether it is a contact you might have in the industry or your dad knows someone that could offer you an office on “mates-rates”, it would be a good idea to take full advantage of it. You may have such advantages as a compelling background that might stir potential sponsors or investors enough to offer you some financial backing.

This has been an article from ClearSky-HR.co.uk who offer HR solutions and advice for those in small businesses.