Business set-up package launched to encourage more diversity in entrepreneurialism.
Birmingham based start-up, Start.biz, have launched a revolutionary new business service package designed to enable budding business owners from a wider range of backgrounds to more easily set-up on their own.
Despite the cost-of-living skyrocketing and the economy shrinking, the UK still maintains its unbreakable entrepreneurial spirit. Pandemic related redundancies and the ‘Great Resignation’ have contributed to a record rise in new businesses being launched in 2021, with this upward trend continuing into 2022. However, the death rate of new businesses is still incredibly high, with 60% of small ventures not making it to their third anniversary. Start.biz is on a mission to change this and believe setting a solid foundation from the start is the key.
‘Just Start’ will fully launch to the public in September 2022 after in-depth market research and a rigorous testing period. Features include getting the business officially set-up and compliant, providing clients with a domain and business email, and setting up a business bank account. Having these essential business services centralised allows the business owner to focus on the development and growth of the new venture rather than the administration.
Although access to government funded business advice is improving, it is still failing to reach some of the UK’s most underserved communities. Start.biz conducted thorough research by interviewing their current client base, hosting a product feedback session with Birmingham City University students, and gathering the concerns of pre-start entrepreneurs from a variety of backgrounds. Understanding the unique challenges aspiring business owners face has enabled Start.biz to design an affordable, customisable package that puts in place a solid foundation for any company, in any industry. Leveraging their partnership with online finance giant Tide, they have been able to offer new clients a 6-month free trial and £50 cashback when opening their new business bank account.
‘Tide, like Start.biz, is dedicated to helping freelancers, sole traders and limited companies so a partnership seemed natural. More than 400,000 business owners have chosen Tide to take care of their business finance.' – Liam Thomas, Partnership Manager Tide.
Removing this financial barrier to business services and support has allowed Start.biz to go into partnership with non-profits such as ACH, an organisation dedicated to building a better future for refugees and migrants in the UK. 75% of migrants only have access to low-paid, menial work and so often have to set-up on their own after arriving in the UK to get by.
Refugees are not the only group facing challenges. A report released by parliament in 2021 highlighted that only 16% of small and medium sized enterprises in the UK are ran by women. Through a combination of factors including societal expectations, care responsibilities and lack of support networks, female founders are a rarity. By conveniently centralising their set-up, Start.biz helps to save business owners time and money so they can focus on the core of their business and other daily obligations.
‘Our mission is to make running a successful business more accessible and easier for everyone. We’re passionate about levelling the playing field and seeing increased diversity amongst business owners across the UK. ‘Just Start’ is not only a great, affordable product but the foundational stone of Start.biz’s goal to revolutionise the business service industry.’ Matthew Cusack, Director Start.biz.
To find out more about the ‘Just Start’ package go to www.start.biz/just-start