ATTENDING evening classes or part-time courses before you go into business could spell the difference between success and failure, say business experts.
There are more than 105,000 full and part-time courses available in Britain, lasting from as little as half a day to a couple of hours a week or longer. But many people still prefer to take their chances when starting up a company — Barclays bank said some would-be entrepreneurs don’t know the difference between turnover and profit.
John Davis, marketing director for local business at Barclays, said that if the people starting firms had better training, far fewer would fail. “Training is a big issue for small businesses,” he said. “It is my guess that only a very small percentage of budding businesspeople get training of some sort.”
About 388,000 new businesses were started in Britain last year, but only 11,000 people were on adult business-related courses.
Davis said the most important thing was for people to make sure they understood the basics, such as how to manage cashflow, IT and customer service. Barclays plans to offer customer online access courses soon, and already runs seminars with the National Federation of Enterprise Agencies.
His view is echoed by Kim Fletcher, business adviser at Business Link in Kent. He said: "Going on courses is a great way of learning in a focused environment. They can provide context, relevance and structure to ideas and give people the opportunity to network with others who are in the same boat. A well-run course that lasts two to three hours is far more valuable than reading a book.”
Good entrepreneurs know the value of acquiring the right knowledge. Kelly Atkins, 27, is the founder of Carpet Burns, which sells heat-treated carpet sheets to designers and architects. She entered the business world with a degree in applied arts but no experience, and realised she needed help. “My starting point was I knew absolutely nothing,” she said. “Business to me was a complete unknown.”
She first went on a free one-day book-keeping course run by Business Link to learn about cashflow and since then has taken courses in marketing, accountancy and PR, all offered through Business Link.
For many people starting out in business the biggest stumbling block to studying is the cost. However, as Atkins discovered, there are lots of free or reduced-cost courses available. “Initially the training I did was free, and then there were certain things that were heavily subsidised,” she said.
A quick search on the Hotcourses website, for example, will produce results ranging from a 10-week law and business-studies course for £38, to a £60 course on how to start your own business.
If classroom study is not your thing, there are other options, such as Learn Direct’s online course called Setting Up Your Own Business. And the number of online courses is rising.
Jon Gamble, director of adult learning at the Learning and Skills Council, said: “The vast majority of people that went through the Learn Direct route studied online. We like to think of technology as we now think about books. It’s part and parcel of the learning infrastructure.”
Tajinder Nanuwa, who founded Urban Apothecary, a beauty products home-distribution business, drew on her experience as a promotions girl and account manager for a beauty business when she decided to start her company.
She began by studying part-time for a certificate in management, and after contacting her local Business Link in Leicestershire now plans to take day courses on Vat and payroll.
And Valerie Corfield found that taking a course transformed her dog-grooming business, Dorking Dogs. A former office worker, she stumbled on her local Business Link a year after starting up. “I did some temping work and some information came through about Business Link, which I put in my bag and took home,” she said.
She enrolled for two free introductory seminars, Be Your Own Boss and Running a New Business — What’s Next? But the real learning started when she took a £150, five-day programme called She’s the Boss. “They made me sit down and write a business plan. It has really set me goals and objectives. I got so much out of it.”
With about 50% of all small businesses failing in the first three years, it makes sense to see if you can stack the odds in your favour by taking a course or two before taking the plunge.
Courses to get you on the right track
Hotcourses
The largest publisher of guides for courses, colleges and universities. The website provides information on courses as well as funding and career options. www.hotcourses.com
Learn Direct
Has more than 2,000 learning centres across England, Wales and Northern Ireland, providing access to e-learning opportunities. Also runs an advice service. www.learndirect.co.uk
National Federation of Enterprise Agencies
Not-for-profit group of Local Enterprise Agencies. Provides services for pre-start, start-up and micro businesses. Courses include business plans; finance and accounting; sales and marketing; and personnel. www.nfea.com
Business Link
Provides information and support for start-ups. It is part of the government’s drive to promote enterprise. www.businesslink.gov.uk/training
Barclays
Barclays and the NFEA are offering more than 500 free seminars across the UK this year. Register for the Let’s Talk Starting in Business seminars on the Barclays website at www.barclays.co.uk/seminars/startinginbusiness
