When you start up a new business, it’s taken for granted that long hours come with the territory. But in Norway’s capital Oslo, hard-working entrepreneurs are causing a stir with an innovative way of working.

Mesh is a creative hub for start-ups; a place for young entrepreneurs to work in a community of similarly minded business people. As well as office space, workshops and meeting rooms for businesses such as app developers, jewellery designers and architects, there is a café, video studio, creative lab, tennis table room and even a nightclub! But the 24-hour working culture is causing concerns in concern in a country known for its healthy work-life balance, where 8am-4pm office hours are the norm and the emphasis is most definitely on working to live instead of the other way around.

It’s a different picture in the UK. According to Start Up Britain, budding businesspeople here are on track to launch half a million new ventures in 2013 – a record number – yet the culture is one of long hours and, unfortunately, a high failure rate. In a recession it can be especially hard to launch a successful business so, if you’re thinking of going solo, make sure you have these first:

  • A good idea! It sounds obvious, but question whether you are really offering something new or can put a new slant on a common idea. Competition will be tough if you can’t stand out amongst the crowd
  • A plan. Crossing your fingers and hoping for the best is all very well, but having a solid business plan – and remembering to review it regularly – will give your start-up a better chance of success
  • The right tools. Thankfully, due to the internet and great technology, it’s never been easier to be a one-man band. You can network and market yourself online, and you can use tablets and smartphones to create videos rather than pay professionals
  • Funding. It is much harder to get a business bank loan than it was in the ‘good old days’ before 2008, but there are still many ways to get off the ground financially. Research crowdfunding, business angels, invoice factoring and credit card deals, or think about asking family and friends to invest in your new venture

Simply Factoring Brokers specialises in matching businesses of all sizes to the right funding. We can get you a great deal on factoring invoice discounting and asset finance quickly, releasing cash flow and enabling your business to expand and develop. To find out more just get in touch with our friendly team on 0330 134 2826 or email contactus@simplyfactoringbrokers.co.uk

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Shaun Thomas

Head of Marketing at Simply Factoring Brokers
Shaun is a seasoned marketing professional with a solid background in finance. Shaun is always available for a chat about marketing, finance and football. Give him a call or connect with him on LinkedIn

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