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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.

What's standing in the way of business success?

20 August 2019

Three businessmen attempting to climb the wallNew research has found that legislation and economic climate are the biggest obstacles facing UK businesses that are looking to grow.

Safestore has polled UK business owners in order to find their biggest concerns, their most important goals and what they believe to be the top reasons for a business failing. The research focuses on eight major sectors - agriculture, construction, health and social, hospitality, manufacturing, real estate, transport and storage and wholesale and retail.

According to PwC, the UK has seen an average of over 5,600 businesses close yearly since 2013, nearly 30% higher than the number of openings every year. It means that ten business close for every seven that start up.

The results of the Safestore poll show that the biggest issues facing UK businesses today are legislation, economic climate, cashflow, staff and access to finance.

When it comes to company failure, however, the most common factors lie closer to home, it seems. The poll found that 35% of business owners believe the wrong business model is the most common reason for a business failure, followed by lack of business development (28%), running out of cash (21%), poor product or market fit (18%) and bad organisation (14%). In addition, 11% of those surveyed said that "more able competitors" were to blame for a company's demise.

Over half (53%) of business owners polled said that growth is their number one goal. Nearly a third said their primary objectives are related to IT (32%) or the structure of their company (31%). Finance was found to be a priority for 23% of those polled and only 12% said they prioritise cost management.

Written by Rachel Miller.

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