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Start Your Own Business – Advice for Budding Entrepreneurs

With no jobs being particularly safe in the current economic climate, now may be a good time to start your own business.  In fact, the people of the UK are being positively encouraged to do just that by the government with all manner of help available to those who wish to become their own boss.

In years gone by, starting up a small business often meant finding clients or customers in your local area.  For a business catering to a niche market, it was often hard to find a large enough local customer base and going into business was a risk that many people were unwilling to take.  However, with such extensive global use of the internet nowadays, even if your business does mainly cater to a niche market, it’s possible to reach out across the globe and find customers from all over the world.  This ability can make the prospect of starting up a business very attractive and, as well as diminishing the risks involved, it also means that start up costs are actually a lot lower than they have been in the past.

The expense you may go to in having a website built for your business will be justified by the fact that you can reach a much wider audience of prospective customer or clients for your products or services.

If you are supplying products or services to customers overseas, you will need to provide payment methods that will be available in different currencies.  There are several payment methods that can be used with several providers jumping on the Paypal bandwagon after seeing how this company has become a universal preferred method of payment across the world.  Whether you intend to use Paypal, bank transfer, credit or debit card payments or a mixture of all of those methods, at some point you will find yourself needing to deal in foreign currencies.

If your business involves either importing or exporting goods then you’re likely to be dealing in different currencies.  In the past year or so, since the Brexit vote, sterling has experienced some fluctuations and the pound is now worth quite a bit less than it was at the beginning of last year.  It’s also the case that we’re travelling in uncharted waters right now when it comes to trading with overseas suppliers and buyers.  None of us are quite sure what the future will bring as the UK government struggles to negotiate a Brexit deal with the European Union. 

However, taking the plunge and dealing with overseas suppliers and customers is still a feasible option for business owners here in the UK.  If you’re worried about how to ensure payments from overseas customers, then worry no more.  Here at Access Credit Management we have experience of dealing with cases of international debt and offer a “no win, no fee” service to our clients who need help with obtaining money owed to them by customers and businesses abroad.