Tips for a Creative Start-Up Business

The arts are an important part of global culture and are a wonderful way of expressing ideas and discussing current issues. However, as necessary as they are, getting the right support and opportunities can be hard. Even if you’re career path is more centred around graphic design or more versatile creative jobs, there are many talented people to compete with, and it can be overwhelming trying to get your foot in the door.

This is why a lot of creatives consider starting their own companies, either as a solo project or with a group of likeminded people. If you’re a professional creative and are thinking of starting your own business, here are some tips to help you get started.

Research

All start-ups must have carried out extensive market research before they even begin. This will help you form a strong business plan for the first 5 years of trading. You must look into your competitors, too. You will need to make your creative company stand out from others that are focusing on the same thing, and consider how many businesses like yours are in your local area. If there are already 20 businesses in your town or city doing the same thing, you might want to rethink your plan, or at the very least, figure out how to offer something the others don’t. You should also look into what financial support is available to you as a creative business as there could be specialist grants and schemes for artistic projects/companies you can apply to.

Funding

If you have found specialist schemes based on supporting creative businesses and you qualify for application, by all means, apply for as many as you can. If your company doesn’t quite fit into these parameters or you’re unsuccessful, there are still business loan opportunities with banks or government-funded programs. The latter might help you develop your business plan, which would be useful if this is the first time you have done anything like this. Before you approach them, however, you will need to have drawn up a sensible plan to present to them. They will help you make it better if need be, but you will have to prove to them you have thought about this carefully and can make your business work.

Office Space/Workshop

Your business idea might be suitable for you to work from home, but if you’re planning to have a small team of people working with you, or need space to create your products, you will need to find a suitable workspace for this. Consider your budget carefully before you sign up to any of these spaces, or look at hiring flexible offices/desks to make it more affordable. This office space in Bristol is a great example of quality workspaces for creatives, and similar offers will be available in all cities in the UK. Also remember to enquire about what is included in the price, such as Wi-Fi, bills, access to meeting rooms, and other amenities.

Marketing

Marketing your creative start-up in the right way can be a challenge, but it’s essential to get this right. If you’re not familiar with marketing strategies or techniques, do your homework and spend time building your skills in this area. Alternatively, you can hire a professional marketing agency to do this for you, but again, this will depend on your budget. If you want to do this yourself, utilize social media platforms and other digital marketing tools as it’s via these channels that the majority of consumers now discover new businesses and brands. You should also consider holding a launch event to promote your company and use that as a networking opportunity.

Accounts

As a creative person, you’re probably more excited about working on your projects rather than doing business admin tasks. Unfortunately, as a business owner, you must keep on top of these things, especially your accounts. Failing to complete your annual tax returns or filing incorrect information can lead to sizeable fines or worse. To avoid the stress of these situations, make sure you’re keeping on top of them, or hire an expert, such as an accountant, if you don’t have the time or you find it too complicated.

Making a long-term career out of your passion and being able to indulge your creativity for your job is an incredible experience and opportunity. If it’s not happening for you right now, why not make it happen? Just make sure you do your research and find the balance between your creativity and your business sense.