Small Business Saturday, 7th December: How to Make Your Business a Success

This Saturday, 7th December, marks not only Small Business Saturday in the UK but also my attendance at The Coaching Catalyst’s Thrive Event for Coaches. The occasion is a great opportunity to celebrate the increasing number of women embarking on entrepreneurial ventures. For senior women leaders, in particular, entrepreneurship offers a chance to leverage decades of experience and passion to build impactful businesses. However, navigating this journey requires preparation, resilience, and the right support.

The Rise of Women Entrepreneurs

Women-led businesses in the UK are flourishing, with the number of all-female-led business incorporations growing from 56,200 in 2018 to 145,200 by 2021, as highlighted by the Rose Review of Female Entrepreneurship. Yet, barriers remain. Female entrepreneurs receive only 9% of equity funding, compared to male-led ventures, and often face confidence and financial challenges. Addressing these issues requires strategic planning and tapping into available resources.

Tips for Starting and Growing Your Business

1. Find Your Niche Identify a gap in the market that aligns with your skills and passions. Purpose-driven ventures, particularly in areas like sustainability or health, resonate deeply with modern consumers.
2. Plan Effectively Develop a clear business plan covering market research, goals, and strategies for growth. This serves as both a roadmap and a tool for securing funding.
3. Explore Funding Opportunities Programmes such as the Women in Innovation Award or Hatch Female Founders Programme offer financial support and mentorship. These can be game-changers for early-stage businesses.
4. Build Your Network Join local business groups or women-focused networks, such as Women in Business NI, to gain insights and form valuable partnerships.
5. Leverage Digital Tools Establish an online presence through a professional website and active social media engagement. Platforms like LinkedIn and Instagram are vital for visibility and customer engagement.

The Role of Career Coaching

A career coach can be instrumental in helping women transition to entrepreneurship, offering guidance on defining goals, overcoming self-doubt, and building sustainable business strategies. With a coach’s support, women can confidently navigate challenges and embrace opportunities.

On this Small Business Saturday, take the first step towards your entrepreneurial aspirations. With the right mindset, resources, and support, the possibilities are endless.

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