July 2023 Parenta magazine

Starting and growing a business takes
courage, commitment and a certain
amount of luck. There seems to be so
much to think about and organise that
things can sometimes get a little daunting
for owners of small and medium-sized
enterprises (SMEs). An SME is any
organisation that has fewer than 250
employees and a turnover of less than €50
million or a balance sheet total less than
€43 million (see below). In Europe, SMEs
make up 99% of the business community.
There were just over 750,000 start-ups in
2021-22. Some businesses fail in their first
year, mostly due to cashflow problems. So
how can you ensure that your business
is not one of these, and what help is out
there to help you grow your fledgling
dream?
Get help
The good news for SMEs is that there is a
lot of help available on a variety of general
and specific business topics and we’ve
listed some ways to help you below. A
good business plan is a must so never
skip this step. See the British Library site for
more advice.
FINANCIAL HELP
Funding business is crucial for start-ups
and growing businesses and there is help
out there. A good starting point is the
“Government Funding for Small Business”
webpage at: www.ukstartups.org/ukgovernment-funding-for-small-business.
This page will help you navigate the
minefield of information on funding. There
are different types of funding available
such as: