Simply Business met with several British entrepreneurs at the Business Startup Show in London's ExCeL centre. We've asked business experts about their startup tips to guide new entrepreneurs through the process of starting or growing their business. In this interview, Andrew Keats advises startup owners to pursue business partnerships and research alternative sources of funding.
Simply Business: Can you just tell us your name and company name, and give us a bit more information about what you do?
Andrew Keats: My name is Andrew Keats. I’m here representing Action Business Consultants Ltd. We look after and specialize particularly in SMEs. We especially focus on start-ups, and their development and progression.
Simply Business: If you had some tips to give to somebody who is looking to start up a business, or about to take that first step, what sort of top tips would you give them?
Andrew Keats: My first step would probably be quite unusual… most people would probably argue it is price. I would actually argue that you should look to join a partnership with somebody you can have a relationship with. It is very important that you get along with that individual and you grow and develop your business over the future years.
Simply Business: What sort of places can people go to for advice when they’re starting? What sort of things do they need to look for advice on, and where can they go to find that information?
Andrew Keats: Ideally, advice would be locally-based. Probably accountants, bank managers, and the local support groups, such as Chamber of Commerce, and related sectors of government. There is plenty of support out there. Find out about grant-based projects, finance available, maybe third-party investors. I feel like that kind of thing could be very helpful to start-up owners as they help the business grow and develop.