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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.

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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.

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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.

The rise of "generation start-up"

22 October 2018

The rise of “generation start-up”The number of young UK business directors has increased by over a third in the past year, according to the latest data.

Millennials, born between 1981 and 1996, have been dubbed "generation start-up" because of the continued rise in the number of young people starting their own business.

The number of millennial directors of SMEs in the UK increased by 37% to 56,000 in 2017/18, up from 41,000 in the previous year, according to accountancy firm Moore Stephens.

The trend has been driven by a number of factors - not least the post-credit crunch job market that many graduates faced upon leaving university. In particular, challenges facing the banking sector in 2007-2008 led to many individuals spinning off and setting up their own fintech businesses.

Since then, the rise of the gig economy has given more young people a taste of managing their own workload.

Moore Stephens says many of the entry barriers to starting a business, including launch costs, are much lower than in previous years. The growth in cloud computing and "software as a service", for example, has cut the up-front cost of IT needed for a small business.

The increased availability of shared and flexible workplaces has also helped make it easier for a start-up to launch and scale up. In 2017, flexible workplaces represented 4.5% of total stock of central London office space, up from 1.7% in 2007, according to data from Cushman and Wakefield.

Ross Northall, partner at Moore Stephens, said: "The dream of launching a start-up has become increasingly attainable to many. The rise of the gig economy and the tough market for graduate jobs has obvious downsides but these may have acted as a catalyst for young entrepreneurs to strike out on their own."

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