It is really encouraging to read the latest figures http://tiny.cc/vial6 that the number of small business start ups in the UK in the first six months of 2010 was the highest amount in a decade.
Good on them!
It is natural after a recession that there may be a boom of people starting their own businesses as they may have been fed up in their workplace; they may have access to capital due to redundancy or just have a brilliant idea and are running with it. Dragons Den may have a few more pitches in 2011!
This positive news makes a real difference and is welcome relief from the daily media outpouring of job cuts and losses. With the October spending review looming, there may be more people encouraged to start their own business when they find themselves without a job.
Running your own business can produce some of the biggest rewards in life and every entrepreneur who tries to start up their own business does so for different reasons. There is no right answer, but of course there is no kidding it always takes hard work, dedication and a few learning bumps along the way...
Some of the new start up businesses will face the daunting challenge of taking on their first employee potentially at some point and growing further. Recruiting the right person can be a distraction initially but without a team your business may be limited in growth, therefore, taking the time to plan the job role and person specification will be important in the early stages and advertising cost effectively will be a priority. Word of mouth recruiting in the early stages of growth can sometimes be the most effective...
Whether you take on your first or hundredth employee, they should always be given up to date terms and conditions of employment within eight weeks from when they started. Ensuring your contract of employments actually fit your business, role and the environment is crucial, most small businesses start off with giving the statutory minimum and look to expand on this further when they continue to grow and seeds of success are planted. Nothing wrong with that...
Policies and procedures do not have to be developed from day one; a start up grows and changes, this part of the dynamic business change that will happen over time.
Ok the reality is when starting a new business you should never be bogged down by employment and HR red tape but you should be aware of what you legally should be doing. HR and employment legislation won’t be a barrier to anyone wanting to set up their own business, it is just likely you may have to deal with issues that come up and getting it right so it doesn’t cost the earth.
Onwards and upwards for the start ups of Britain, The HR Dept salutes you!
