Page 6: Conclusion
Starting up in business is an exciting challenge. However, it is necessary to have a good idea, a clear understanding of the market and financial knowledge and skills to support the business' development.
A detailed business plan will help a business avoid failure by:
- researching the market
- assessing the competition
- predicting revenue and costs accurately
- securing adequate finance.
Barclays, as a major bank, provides a wide range of services to support new businesses from initial idea to running the business. It helps entrepreneurs to plan and monitor to achieve their goals and avoid unnecessary risks. Barclays regularly runs free seminars around the country to help new and existing entrepreneurs with their businesses.