I started my first business in 2002 which was a website design company and between then and 2008, I created over 110 websites and dealt with many businesses and it was a great experience. I ended the business purely because I got a chance to work for a large brand which I couldn’t turn down, and it was in the exact same business space & job description. The Challenges of Setting up a new business may seem daunting and it may seem like a huge deal but I’m back working for myself again now and it has pros and cons for sure. Entrepreneurship in Ireland and the United Kingdom (UK) stands as a testament to the innovation and resilience of individuals striving to carve their paths in the business world. However, embarking on this journey comes with its unique set of challenges, particularly when initiating a new venture.
I’m always delighted when I see friends or family setting up their own businesses. One of these recent businesses was Viking Garden Creations which was set up by fellow Queen Tribute musician Craig Farley, and his business is a landscaping service that promotes a wildlife-friendly gardening and planting approach. He does everything from the creation of Wildlife Ponds, mini wildflower meadows and flowering lawns, fishponds, garden streams, and waterfalls. he also provides general maintenance service, paving, decking, custom planters, and pressure washer cleaning, while very importantly being fully Public liability insured. Visit https://vikinggardencreations.com/ for the Viking Garden Creations website.
Roadblocks to Entrepreneurship
One significant challenge for entrepreneurs in both countries is navigating the regulatory landscape. Despite efforts to streamline procedures, bureaucratic hurdles can often delay the establishment of new businesses. From registering a company to complying with tax regulations, entrepreneurs must invest time and resources to ensure legal compliance, which can be daunting, especially for first-time founders – some people even find GDPR so daunting that they are worried about setting up a website.
Access to funding remains a perennial obstacle for many aspiring entrepreneurs. While both Ireland and the UK boast vibrant startup ecosystems with numerous funding opportunities, securing capital, especially in the early stages, can be a daunting task. Competition for investment is fierce, and without a robust business plan and solid proof of concept, attracting investors becomes increasingly challenging.
Moreover, the uncertainty surrounding Brexit has added another layer of complexity for entrepreneurs, particularly those operating in the UK. Changes in trade agreements, tariffs, and regulations can disrupt supply chains and market access, impacting the viability of new businesses. Navigating this uncertainty requires adaptability and strategic planning to mitigate potential risks.
Market saturation and competition present additional hurdles for entrepreneurs. In sectors such as technology and e-commerce, where innovation drives rapid evolution, standing out amidst established players requires a unique value proposition and a deep understanding of consumer needs. Breaking through the noise and gaining market traction demands creativity, persistence, and effective marketing strategies.
Furthermore, the COVID-19 pandemic has highlighted the importance of resilience in the face of unforeseen challenges. Many startups have had to pivot their business models or adapt to remote work environments, testing their agility and ability to withstand economic shocks.
Despite these challenges, entrepreneurship in Ireland and the UK continues to thrive, fueled by a culture of innovation and a supportive ecosystem of incubators, accelerators, and mentorship programs. By addressing these obstacles head-on and leveraging available resources, aspiring entrepreneurs can navigate the journey of starting a new business and contribute to the vibrant entrepreneurial landscape of both nations.
My Learnings
Some of the things I have learned are as follows;
- Stay Organised
- Run some sort of Digital and Offline Marketing Strategy every month
- If you need help, ask an expert
- Never forget about the marketing of your business or the accounts side of things
- Use a professional accounts system – I use Quickbooks at under €25 per month it is great value
- Take some time away from everything to take stock of your last month and make plans for the month to come
- Stay Strong and Don’t panic
So if you are considering setting up a business, certainly get advice, and do your research. If you have a skill in a certain area and if there is a need for that service in your area, then you will have a niche that your service can fill for sure. You will learn a lot from this experience. It is freeing while allowing you to take control of your success. I wish you the very best of luck if you are taking this step.
If you have any questions please let me know.
