It’s tough – the Thames Valley’s young entrepreneurs are tougher!
Young entrepreneurs from the Thames Valley continue to prove that it is possible to succeed, even in this tough economic climate, with dedication, strategic planning and innovation.
As part of their prizes, local finalists in last year’s Haines Watts Young Entrepreneur Competition won year-long mentoring sessions with Partners from Haines Watts. The mentoring sessions are underway and the sheer energy and focus shown by our finalists is truly inspirational. They are all under the age of 30 and they are up against some of the toughest economic conditions in living memory - yet they show the utter determination and commitment that keeps their businesses alive and flourishing.
Top 10 issues faced by young entrepreneurs in 2011
1. Starting from scratch: identifying who you need help from and making appointments to meet them.
2. Getting funding – from start-up to working capital.
3. How to build credibility with little or no trading history.
4. Understanding financial matters like cashflow, P& L Balance Sheet etc.
5. Mastering time management – never enough time to do everything!
6. Sacrificing social life, sometimes even holidays or time off.
7. Feeling isolated – sometimes having to deal with jealous friends/peers.
8. The need to learn new things fast, for example, using software.
9. Understanding the importance of marketing your business properly; understanding and engaging with your customers.
10. The need to continually check and differentiate yourself from competitors.
HW Chartered Accountants launches the Haines Watts Thames Valley Young Entrepreneur Award competition 2011 on 1st March!
For further information about the Haines Watts Thames Valley Young Entrepreneur Award 2011 please visit www.hwye.co.uk
For further information about Haines Watts visit www.hwca.com
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