Nearly everywhere we look we see examples and stories of companies that started from nothing and are now worth an obscene amount of money. This “start up culture” has gripped the nation and now we have seen a move by the government as well as some very established business leaders to back new business. The start up loans initiative has backed well over twelve thousand businesses so far and is still going strong. And with this others are also setting up facilities to help budding entrepreneurs including Virgin owner and entrepreneur Richard Branson, who uniquely offers business mentorship as a part of the loan scheme.
So it is apparent that the government are keen for people with new and innovative ideas to come forward and grow their idea into a business, but how do you know your idea is viable as a business opportunity? There is no way to be sure until you get out there and start researching and trialing your idea. Below are some great ideas on where to start and what you should do next.