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Startups – The 6 key questions to ask yourself

The 6 key questions to ask yourself

The entrepreneur usually has their business idea and goes in search of it, however it is advisable to reflect on the road ahead and question about their entrepreneurial skills, their strengths and weaknesses. Performing this stop along the way, may have a great impact and help to facilitate your work.

Basic questions for the entrepreneur

If you are an entrepreneur or are in the beginning of the creation of a small or medium enterprise (SME), you should be aware of the following:

• What is the ease of starting a business?

Ask yourself this, since the procedures according to the type of business are sometimes very repetitive and require multiple visits, paperwork and negotiations.

• What support is needed?

It would be desirable to have comprehensive support according to the segment of the company which can offer both onsite and offsite forms, bringing a new way of bonding between SME entrepreneurs and government.

Among the main supports that an SME may require are having campaigns to encourage the consumption of their products, support through a wage subsidy of SMEs in growth, training, adequate funding and a productive network that allows access to markets.

• Should I take into account the culture of the region?

Each SME has the idiosyncrasy of the region where it is located. Therefore, considering their culture can stimulate the consumption of products and services of the town to promote the creation of new SMEs. This regional domestic consumption and the recovery of traditional sectors that have long-established locally are encouraged.

• Where can I receive care and support?

It is preferable to have support in one place; support. Having a single point of care where practical and concise solutions are offered, is essential.
Ideally, the government will look to companies to offer services and not wait for these applying to receive support, which allows them to offer advice directly where required by the employer.

• How to organise support for my business?

This can be answered by boosting business accelerators, incubators and schemes that generate the development of new processes to strengthen the competitiveness of SMEs globally.

It can be said that the comprehensive support to SMEs can be given in five aspects: training and assistance, financing, production linkages, technology development and market access. Considering these factors will help you to get better benefits and find support.

• Where to establish my SME?

This can be performed in industrial parks specially designed for your type of company, where they can link the incubators, business accelerators, as well as the exchange of services among SMEs.

For office based businesses, there are now numerous managed or serviced office spaces available to rent for companies. These can be especially beneficial to start-up businesses due to competitive packages that take a lot of the pressure off of the new business owner. These packages are flexible and can be tailored to your own budget and requirements.

• Additional issues to the entrepreneur

What purposes do you have for your business in the coming year? Where should you start? What comes first, what will follow, and which of them is most realistic? what goals are aligned with the mission of the company? Which can generate a competitive advantage?

Considering all these factors, make every effort that your SME is not left alone in wishful thinking, but remember that one of the main advantages of being a small or medium business is the flexibility to meet challenges.

The work of an entrepreneur is hard, but the positive results after good analysis of these questions, can help the company to succeed in the future.

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