Business Starting Grants

I am 16 and I want to start my own technology selling business. Problem is I only have £1200. Any tips on ...

I am 16 and I want to start my own technology selling business. Problem is I only have £1200. Any tips on how I can start up my business with this small amount of money?

Public Comments

1. business loan... or invest for a few years.
2. apply to the prince's trust, they give you advise and if you ideas are good maybe some funding. http://www.princes-trust.org.uk/
3. Hi there, that is a great thought of yours to start your own business. Unfortunately it may cost you more than that as it is the type of business you want to create, unless you are open to other ways of creating a business so as to gain that extra income and once you are 18 to be elligible, able and create the business you desire. My advise would be for you to save as much as you can for now and start to develop a plan on how you can gather more savings.
4. Work over the summer!
5. ask alan sugar for advice he started selling car antenna and stereo's in romford market and later owned amstrad as he's a self made millionaire from selling technology he doesn't understand he's be a perfect roll model, but i heard he's no gentleman, so be prepared for a bit of harsh talk if he bothers to reply
6. What's unique about your products? Will you be able to compete with the bigger companies? Do you have suppliers who will supply you with unique products that no other company has? Do you have any copyright or patents for any of your products? Have you researched amd seen a gap in the market to exploit? These are some of the questions you have to ask yourself before you start any business and get any investors intersted. The market is insanely competitive both on the net and in the shops, a big company with hugh profits will reduce the price of their products or build stores around your company to take your customers away.
7. Sell something that is quite cheap so that you can get lots of stock. Like a USB memory stick say. Or, sell something that is expensive that will sell in low volumes. Then only buy it when you have an order. I think you are too young to get a bank loan. Minimise your risk by building up like I suggest. When you have amassed some capital and a proven track record, that is the time to up the risk and maybe take a loan.
8. Go into your local job centre and get the phone number of your local branch of the Princes Trust. They will be able to offer advice on business plans and grants available to you. Whilst you are in the job centre ask them if they have a business advisor that you could talk to. You will also need a business account at a bank, so go into your bank and ask about this (although I have a feeling you may need to be 18 to have such an account). Good luck with your plan and all the best for the future.