Business Tip: Don’t over-extend your business financially. Don’t forget that you need working capital to run the business.

Business Tip: To keep overheads to a minimum when you start out, try to work out of someone’s home or garage. Rent is a huge expense.

Business Tip: Don’t hire any employees until you absolutely have to. They’re a large cost and there are a number of regulations involved.

Business Tip: Research the legal steps and paperwork involved in hiring new employees.

Business Tip: Don’t forget that all businesses need to pay tax, so keep this in mind when calculating your costs.

Business Tip: You need to register any new business. Every country has different regulations for this, so research exactly what you need to do in your location.

Business Tip: Many customers find their products and services online. Make sure that you have an updated and informative website.

Business Tip: Design a business logo. A well-designed, relevant logo can have an instant impact on your customers and leave a lasting impression.

Business Tip: Choose a business name that’s unique, available and relevant.

Business Tip: Research the different types of business ownership models there are available, and which will be best for you, eg. a partnership.