I have a question for everyone
know with the internet and forums that help you in just about anything
do you think starting a business know is alot easier than it was before (say 10 years ago), or did it just get more competive.

Starting a business now is no harder than at any other time.
In fact being small can be an advantage..........your overheads are small.
If you are going in to manufacturing, find out what people want, ring up and/or visit companies buyers, managers or bosses and ask them what they are finding it hard to get, don't buy a machining centre if the local factories need components cut on a waterjet for example.
Don't be put off when they say they don't need anything, one day when a regular supplier has let them down, your phone call at the right moment gives you the chance to show them what you can do, so keep calling.
Advertise in a trade paper or hobby mag or internet.

If you really want to do it, do it, you'll never make any money working for someone else.

I think the starting a business is not easier. It's more competitive for your thinking. It depend the Business and depend the competition of The Business.



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It's more difficult to get finance these days.

Cashflow is critical. It doesn't matter if you're making the most precise rarest component in the world if you haven't got a healthy casflow.

There are a heck of a lot of good businesses, with good product, that go down the pan every year due to bad cashflow. The bean counters at the bank are only interested in bottom line cash, not whether you've made the hubble telescope.

Hire someone who will agressively chase your invoices cos you'll be too busy making things and then at the end of the quarter you'll be wondering where all your cash has gone as Joe Bloggs hasn't paid and John Smith says he'll pay next month and the bank says "Tut, tut, give us our cash back matey, you're in the red. Oh, no cash? then we'll just take all your nice shiny machines thank you very much".

Call me cynical :)

Think twice before you start a business.

Been planning my own cnc plasma business for 2 years now, first year was doing reno's to have a descent place to work year round, then bought the cnc plasma last January and have been playing around with it ever since learning how to use it and the drawing programs, built a welding table, buying all the small things to go with it, bandsaw etc. I still have a few things to build yet, and a few things to buy, but all in all i think i have pretty much everything i need to start up. I started off thinking this as a hobby, but I always intended it to turn into a business some day, we come up with a marketing and advertising plan for early next year, so we'll see what happens after that. I'm using my garage as a shop so I dont have any overhead, trying to pay cash for everything to stay out of debt as much as possible because i know it will be slim pickings for awhile. I went into another type of business before borrowing alot of money to get going, then having the business go under in less than a year, they were expensive lessons to learn... but i learnt the way you dont forget.

EDD