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For a successful business, you need a viable business idea, the skills to make it work and the funding. Discover whether your idea has what it takes.

Forming your business correctly is essential to ensure you are protected and you comply with the rules. Learn how to set up your business.

It is likely you will need funding to start your business unless you have your own money. Discover some of the main sources of start up funding.

Businesses and individuals must account for and pay various taxes. Understand your tax obligations and how to file, account and pay any taxes you owe.

Businesses are required to comply with a wide range of business laws. We introduce the main rules and regulations you must comply with.

Learn why business planning is an essential exercise if your business is to start and grow successfully, attract funding or target new markets.

Marketing matters. It drives sales and helps promote your brand and products. Discover how to market your business and reach your target customers.

Some businesses need a high street location whilst others can be run from home. Understand the key factors from cost to location, size to security.

Your employees can your biggest asset. They can also be your biggest challenge. We explain how to recruitment and manage staff successfully.

It is likely your business could not function without some form of IT. Learn how to specify, buy, maintain and secure your business IT.

Few businesses manage the leap from start up to high-growth business. Learn what it takes to scale up and take your business to the next level.

Sourcing information about your market - checklist

Market research can help you understand your customers' wants, needs, tastes and spending habits. By using published market information and your own field research, you can get the data you need to target new opportunities. Find out the steps involved.

  • Do your research before launching new products or services or making changes to your business that will affect customers, such as introducing new opening hours or changing location.
  • Aim to discover what existing and potential customers want by using quantitative (desk) and qualitative (field) research.
  • Write down the questions you want to answer. Do you want to know where your customers live, for instance? What other products they buy? What they value in your offer? Having questions to answer will give your research a sense of purpose.
  • Make use of existing information. Ask your trade association or local chamber of commerce whether they have market reports and statistics you can use - some of which will be free.
  • Find free online information about overseas markets from Government sources such as Open to Export and associations like the Institute of Export and International Trade.
  • Take care how you interpret any external data you collect. It may have a slightly different focus from the question you are researching or be out of date.
  • Make use of your own business data and do your own field research. Conduct a survey or get together a focus group to ask existing and potential customers what they think of a new product or service or other changes you are considering making.
  • Consider using a market research agency to do some field research for you - it will cost more, but they may get better results. Look for an agency with experience of working with other businesses in your sector.
  • Look at the general economic outlook as well as the outlook for your specific sector. You should also check for other external factors, such as upcoming legislation, that could affect any plans you have.
  • Research what your competitors are doing. Do they have new products or services coming up? How do they compare to you in terms of price? What do your customers think of them?
  • Use your market research to develop your marketing strategy. What you find out could justify changes to your pricing, the way you present your offer, the customer groups you target, your branding, and so on. Use the information to improve your business and increase your sales.

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