For example, there are great rent deals on premises out there, more skilled people looking for work and an increasing number of companies reviewing their current suppliers in the hope of finding more cost effective, innovative partners to work with.
The current climate can provide the right backdrop for many entrepreneurs. Some people, frustrated by the sudden lack of job security, see it as an opportunity to become their own boss while others have a creative idea and think it's a great time to exploit it - not least because the downsizing by larger companies have left gaps in the market that can be filled by smaller companies that can react quickly to changing conditions.
In addition, advances in technology have made it easy to run a business from a laptop, opening the entrepreneurial doors to everyone from those who want to dip their toes in the water before taking the plunge to part-timers or the retired.
Test driving your business venture before giving up your salary can also make good financial sense. According to recent pieces of research people are doing just that by working from home after finishing their day job.
The impetus behind this 5 - 9 trend is the UK's strong entrepreneurial spirit and an increasing desire by people to turn their hobby or passion into a way of making a living. Working outside contracted office hours at home is viewed as low risk and low cost by some as well as creating a good platform for a full time launch.
Business success is never the result of luck. When a business succeeds it's for good reasons - generally because it offers good value, has a solid plan and its owner possesses entrepreneurial qualities such as self confidence, ambition, self discipline, commitment and a realistic and hard working approach.
Test driving your business venture before giving up your salary can also make good financial sense
The road to success can be frustrating, tedious and exciting at the same time and the first year is a critical part of the journey - not least because expertise and finance can be stretched to the limit. There are a number of organisations out there that provide practical support and advice during this period. For example, the British Chambers of Commerce (BCC) has developed a unique Business Start-up Pack in conjunction with a number of high profile partners such as RBS, Blackberry, Dell, BT and Staples. The pack aims to point people in the right direction as well as offering cost savings on banking, business insurance products, IT and telecommunications.
Entrepreneurs also need to consider theircompany's image from day one. This doesn't mean spending lots of money on advertising and logo design, but it does mean focusing on some simple things such as having professional business stationery to how you answer the phone. You might also want to think about how you can make your company appear more substantial. For example, shine the spotlight on any partnerships or joint ventures your business has with well known companies or highlight the fact that you have a presence in different regions.
One of the other priorities has to be networking. Networking is a word that often strikes fear into the hearts of new business owners. The key is to be selective about which events you go to so you can make sure you build up a valuable source of contacts. If you're still not happy about going into a potentially uncomfortable organised networking event, networking online is a great way to help you crystallise your ideas without even having to buy a business suit.
Business networking sites have become increasingly important in helping start-ups as well as small and medium sized companies. Although many business owners generate sales through word of mouth and believe there is nothing better than face-to-face meetings, they also acknowledge that time pressures mean this isn't always possible and that online networking can fill this gap.
Most of us already do a substantial portion of our business development work via email and other internet technologies and therefore these online business communities simply take it to the next level. With this in mind, and based on feedback from members, the BCC has just launched its Business Network Online (BNO) website, which is groundbreaking in its approach and range of services.
The new website - www.thebusinessnetworkonline.com - takes the best from other business-orientated social networking sites like LinkedIn and adds one very crucial new function - solid, relevant tender alerts via email or SMS texts. The aim is to encourage companies to incorporate this within any new business drive or their future growth plans. There's no doubt that networking sites like this can become an invaluable tool, playing a role in a company's survival.
Sadly, many businesses fail due to a lack of support and therefore it's vital you make sure you know what's out there and how best to access relevant information and advice. One of the most effective options is to meet up regularly with like-minded entrepreneurs to share knowledge and expertise and learn from one another's experiences. The BCC is planning to launch its Business Growth Clubs later this year to help people do just that. The Business Growth Clubs will also include ‘clinics' that focus on a range of topics from technology to finance.
The important thing to remember when you're on the verge of starting your own business or in the early stages of growth is tha,t contrary to popular belief, you are not ‘going it alone'. There are others going through the same experience, others who have been through it and a whole host of organisations out there that are committed to providing real practical support and sound advice.
For more information visit www.britishchambers.org.uk
