Now that the champagne flutes have been put back in the cupboard and the last verse of Auld Lang Syne has been sung, it’s the ideal time to start thinking about what will define the upcoming year. For many aspiring entrepreneurs, 2016 could be the year that their business dreams finally become a reality.
On Saturday 16th January, KPMG Small Business Accounting teamed up with Enterprise Nation to host StartUp 2016. The one-day event attracted 2,000 budding businesspeople to KPMG’s offices in the heart of London’s Canary Wharf.
Entrepreneurs looking for inspiration on how to get a new business off the ground had plenty to choose from, with keynote talks and panel debates featuring brands such as King of Shaves, HSBC, Moo, Facebook, the ICAEW, Xero, O2 and KPMG.
Alicia Thomas, who is planning to start a vintage clothing and events business with her mother, was keen to pick up some tips on creating a buzz on social media, while Greg Illman and Joey Pettit headed to StartUp 2016 hoping the event would spark ideas for a potential new joint venture.
Delegates attended Instagram and Facebook workshops and one-on-one advice sessions in HR, marketing and accountancy, negotiation training, cashflow seminars and free professional headshots, spread over five floors.
Shaherah Jordan, an aspiring entrepreneur based in London, is aiming to launch her business, Balanced Busy Bodies, this year. She came to StartUp 2016 for practical advice on funding and running a business.
The discussion, focused on funding and cashflow, featured our own Bivek Sharma, along with Katrin Herrling of FundingXchange. While many attendees wanted to know what kind of funding they should seek, Bivek advised that the first step is “getting your financial information together”.
This was a relatively common theme of the day, with members of the ‘How to do your accounts in less than 30 minutes per week’ asking for funding tips, such as how to raise finances without sacrificing equity.
The range of subjects covered at Startups 2016 goes to show how complicated starting a business can be. With so much to consider, financial management can be fairly low down the priority list for budding entrepreneurs. However, discussions on the day showed that small business owners who stay in control of their finances will impress potential investors, reassure lenders and have a greater chance of success.
KPMG Small Business Accounting is proud to have sponsored StartUp 2016 and we look forward to another exciting year helping the UK’s small businesses achieve their ambitions. For further insights into the issues affecting startup entrepreneurs, look out for our next blog.
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