In recent years, the North of England has seen a lot of investment in its cities in order to create the ‘Northern Powerhouse.’ This is exciting as it brings about more job opportunities to these areas, but what does that mean for independent businesses? Some small business owners might be wary of the corporate boom; however, this shouldn’t put people off pursuing their own start-ups. If you are an individual who is thinking about starting a new business based in the North, here are some things to think about.
Research
Any business, big or small, needs to keep up-to-date with market research. Researching how relevant your company will be to consumers is critical in seeing success. Find out if other businesses in your area offer similar products/services to you. What is their branding like? How successful have they been? How can you make your business stand apart from theirs? In order to draw the attention of potential customers, you will need to make your business stand out from the competition. Think about how you can style your brand, but also what else you can offer customers that similar companies can’t.
Location
Finding the right location for your business is very important. Firstly, you need to determine whether or not the local area has a demand for whatever it is you are selling. For example, if you want to set up a new café but the street you have chosen is already saturated with cafés and restaurants, then you might struggle to stand out. On the other hand, setting up a quirky, artisanal coffee shop next to a dump on an industrial estate is even more unlikely to get you any customers. The expense of renting a shop or office space needs to be factored into this, too. If you can’t afford a prime location, find a suitable alternative that’s within your budget.
Marketing
Getting your business’s marketing right is essential. With many well-known brands currently trading and some moving to the North, you need to set your company apart. Make sure your business is being seen by consumers. Use social media platforms to engage with your customers and increase visibility. Use digital marketing services, like the northern-based company SEO Company Manchester, who offer their clients digital marketing reinvented. Using a company that is within your region could make it easier for you to meet and communicate with them.
Community
More importantly, think about what your business brings to the local community. Do they need the services you provide? Are there any community projects you can start or sponsor? Businesses should give something back beyond just adding to the local economy. You can help to change people’s lives and have a positive impact on the area you’re based in. Customers will respect you for doing so and remain loyal to you as a result.
Although it might seem daunting having so many corporate businesses moving to the North, independent businesses are still highly valued. So, don’t be put off starting your own small business venture – the North still needs you!