Supporting new business start-ups
A Barclays case study

Page 1: Introduction

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Barclays is a major global financial services provider. It operates in over 50 countries and employs more than 156,000 people. In 2008, Barclays had an income of £23 billion, generating a profit before tax of just over £6 billion. In the UK, Barclays has 741,000 business customers. Many of these customers run relatively small enterprises; some are new business start-ups. Barclays...
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Page 2: The business idea

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An obvious starting point is the business idea. Many people think that they might have spotted a business opportunity. Translating that thought into action is another matter. There are many ways of coming up with a bright idea. Many people are inspired by existing businesses. Tim O'Neil runs T&T Vision, a business that sells spectacles through an online shop on eBay. Tim got the idea for...
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Page 3: Types of business organisation

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If the initial market research suggests the idea is a good one, then the entrepreneur must consider the practicalities of setting up the business. There are three main types of business form:  A sole trader is simple to set up - there is no complicated paperwork. The owner of a sole trader enterprise, such as plumbers, window cleaners and professional writers, has complete control of the...
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Page 4: Budgeting and business planning

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[audio= and business planning]

Many businesses fail in their first year of trading. There are many reasons, but typical ones include: lack of understanding of the market a failure to carry out market research underestimating the strength of the competition failure to secure adequate finance inaccurate estimates in constructing budgets for example, revenue forecasts are too high and/or cost estimates too low. A...
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Page 5: Financing a new business

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[audio= a new business]

Some new businesses need little start-up capital. An online retail business like T&T Vision does not require substantial funds to buy premises or a large selection of stock for display. Other types of business require significant finance for premises, equipment and stock before they can start trading. The owners of any new business, whether sole trader, the partners in a partnership or...
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Page 6: Conclusion

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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...
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