The Business Factory app contains three tools for starting and running a business:
- The Business Ideas Generator
- The Start-up Action Planner
- The In Business app
These apps will guide you along your business start-up journey, to help you find a business idea, plan your new business, and keep up to date with important news and events once you have started trading.
The Business Ideas Generator
You can use this tool to help you find business ideas that will suit your lifestyle, interests and personality.
- Are you interested in animals, and do you particularly want to work outdoors?
- Are you a good cook, and interested in teaching?
- Are you an expert in computing, and do you want to offer business services?
The Business Ideas Generator will filter from hundreds of business ideas to display a list that matches your personal search criteria.
The app features an Ideas Library where you can browse through hundreds of business ideas and, for a bit of added inspiration, a new idea is showcased everyday as Today’s Idea.
When you view the details of a particular business idea, you will be given information about the practicalities of setting up that business, the types of customers you may attract, and the legal issues you need to be aware of.
You can also bookmark Favourite Ideas so you can return to them later, in your own time.
You can also find out how many similar businesses are trading in your local area, and who they are. This will give you a feel for the level of local competition that already exists for your idea.
The Start-up Action Planner
After bookmarking some Favourite Ideas, you can use the Start-up Action Planner to start planning your business.
You will be asked to rate your current understanding of your new business idea based on:
- How clear you are about your business idea
- How well you know who your customers are going to be
- Whether you know how much money you will need to set up your business
- If you have the right skills and qualifications
- Your knowledge of the legal issues and potential risks involved.
After rating yourself in each of these areas, a plan will be created showing where you are in your start-up journey, what you still need to learn, and what you can do next.
By progressing through each section and setting yourself action points to complete, with deadlines to
keep you motivated, you will soon be in a position to create your full business plan.
The In Business app
Once you start trading, you will want to stay informed of any important changes in your marketplace, or any issues that may affect your business.
The In Business app will notify you of any national and local news and events that are relevant to your business so that you are always up to date with what’s happening in your local area, or business sector.