Setting up a business can be a great way to earn a living, fulfill your passions or even both at the same time!
What do I need to set up a business?
You'll need to know roughly what kind of business you want to set up. But after that, it depends on your business, where you're selling your products or services and the business model(s) you're looking to use.
If you're running an online business, you might need a website and/or social media profiles to advertise it.
But regardless of the type of business you're looking to set up, make sure you have a business plan. It doesn't have to be long, and Etsy have a page on how to put together a business plan..
Pros and Cons
| Pros | Cons |
|---|---|
| You won't have to answer to a boss or manager. If you are freelancing, you will be working with clients instead. | Your business could fail. To mitigate against this, start your business alongside your current job or have some savings set aside to cover your bills. |
| Depending on the course, you could get hand-on practical experience with a subject. | Some industries prefer academic qualifications, such as A Levels and undergraduate university degrees. |
| Vocational qualifications can be less stressful than academic ones. | If you are over 19, you will have to pay to do vocational qualifications. The cost will depend on the qualification and organisation providing it. |
| If you don't like academic qualifications, BTECs and vocational ones may be better for you. |
| Pros | Cons | | -------- | ------- | | - | - | | - | - | | - | - If you are over 19, you will have to pay to do vocational qualifications. The cost will depend on the qualification and organisation providing it. | | - | |
Where can I study for vocational qualifications?
You can study for vocational qualifications at your school or local Sixth Form college (if you are over 18, you will usually study at a college.)
The qualifications available vary widely between different schools and colleges, so we advise you to check your local school or college websites to find what they have to offer.