Skip to main content
Guiding you to a better future


For a successful business, you need a viable business idea, the skills to make it work and the funding. Discover whether your idea has what it takes.

Forming your business correctly is essential to ensure you are protected and you comply with the rules. Learn how to set up your business.

It is likely you will need funding to start your business unless you have your own money. Discover some of the main sources of start up funding.

Businesses and individuals must account for and pay various taxes. Understand your tax obligations and how to file, account and pay any taxes you owe.

Businesses are required to comply with a wide range of business laws. We introduce the main rules and regulations you must comply with.

Learn why business planning is an essential exercise if your business is to start and grow successfully, attract funding or target new markets.

Marketing matters. It drives sales and helps promote your brand and products. Discover how to market your business and reach your target customers.

Some businesses need a high street location whilst others can be run from home. Understand the key factors from cost to location, size to security.

Your employees can your biggest asset. They can also be your biggest challenge. We explain how to recruitment and manage staff successfully.

It is likely your business could not function without some form of IT. Learn how to specify, buy, maintain and secure your business IT.

Few businesses manage the leap from start up to high-growth business. Learn what it takes to scale up and take your business to the next level.

Business owners reveal their biggest regrets

13 August 2019

A new study has uncovered the biggest mistakes experienced by the leaders of UK small firms, including financing, pricing and taking misplaced advice from others.

UK entrepreneurs have revealed that their biggest regret is the way they financed their business during the start-up period, according to a poll of 1,000 business owners conducted by Hitachi Capital Invoice Finance.

Almost one in four (23%) business owners in the UK have admitted that in hindsight they'd have financed their business differently and they say this decision seriously held back the business. Male business owners most regretted their fiscal decisions with 28% admitting they chose the wrong strategy, compared to 16% of female business owners.

Owners in the transport and logistics sector regretted their financial decision most, with half of owners saying they wished they'd funded their venture differently. Business owners in recruitment (31%) and manufacturing (30%) made up the top three.

The second biggest regret was pricing strategy with 21% of business owners claiming this was a major regret. More than half (57%) of those who said they made this mistake went on to change their pricing within the first year of operating.

Of the business owners that believed they incorrectly priced their product or service, 78% said it was due to overpricing; only 22% felt they had undervalued their offerings. Business services felt they got their pricing strategy most wrong with almost a third (32%) claiming it was their biggest regret, compared to 31% in both manufacturing and recruitment.

Taking advice from friends or business gurus was also a major regret for many business owners; 17% revealed they took wrong advice and in hindsight would have made different decisions. Almost one in three (31%) male owners regretted the advice they took in comparison to just 10% of women.

Overall, the top ten business regrets are:

  • How the business was financed (23%);
  • Pricing strategy during start-up (21%);
  • Following the wrong advice from others (17%);
  • The timing of starting up (16%);
  • Lack of planning before starting up (14%);
  • The location of the business (11%);
  • The products sold (10%);
  • Hiring the wrong staff (8%);
  • Starting a business in the wrong sector (6%);
  • Not putting enough time and effort into the business at start-up (4%).

Written by Rachel Miller.

Stay up-to-date with business advice and news

Sign up to this lively and colourful newsletter for new and more established small businesses.

Contact us

Make an enquiry