While you may be an expert in your particular field, running a successful business requires making good decisions across a number of areas. Choosing the right business funding, legal structure, finance and IT systems and marketing strategies are just some of the issues you need to address.
Making the wrong decision can be, at best, an expensive mistake and, at worse, could lead to failure.
The government’s announced closure of much of the Business Link service removes a major free source of help to small firms. For years, Business Link advisors have offered support and guidance in various forms, but from this month, the service is reduced to a website and contact centre.
Business Link replacements
Fortunately, there are alternatives to Business Link. Some have been around for a while whilst others are launching to help fill the gap that’s being left. Here’s a list of the options we’re aware of.
Business Advice Service: This was launched recently by the Institute of Chartered Accountants in England and Wales (ICAEW). The accounting firms involved will offer an initial, free, bespoke consultation to small firms. The ICAEW is currently recruiting firms for this new Business Advice Service.
Business Link: The Business Link website that was launched in 2004 will continue, along with a new telephone helpline. This website is being enhanced from this month to include new, easy-to-use services. This will be supplemented by a dedicated, trained, business support team.
Chambers of Commerce: When Mark Prisk, business and enterprise minister, announced the reduction in Business Link services, he said that he wanted to see more advice and support coming from the private sector.
Some of this could be through local Chambers of Commerce, who already supply valuable support and networking services to their members. For firms in Dorset, there is a county-wide Chamber and many local chambers.
Local Enterprise Partnerships: Intended to replace Regional Development Agencies, these Local Enterprise Partnerships (LEPs) would allow the public and private sector to ‘take charge of the local economy’. A year after they were announced, many are still in the early stages of being established.
Private sector solutions: Even when Business Link was in operation, the majority of English SMEs preferred to use private sector solutions. (Alternative schemes operate in Scotland, Wales and Northern Ireland). Some ex-Business Link providers, such as WSX Enterprise in Dorset, are continuing their support services.
