Support for enterprise
Choosing a source of support
Choosing a source of support means matching the help you need to the organisation or person best placed to provide it. A need for money is not the same as a need for legal advice or local market data, so the right source changes with the problem. You should also weigh each source's advantages and limitations before recommending it.
What to consider
| Factor | Question to ask |
|---|---|
| Type of need | Is the business short of money, or does it need legal, tax, recruitment, training or local information help? |
| Cost | Can the business afford the fee, and is free or low-cost help available? |
| Speed | How quickly does the business need an answer? |
| Reliability | Is the source qualified, accurate and trustworthy? |
| Specialist knowledge | Does the source understand this sector and this type of problem? |
| Eligibility | Does the business meet the rules, such as age, location, stage or membership? |
| Effect on the business | Will using this source save money, reduce risk, take up time or affect control? |
Justify the recommendation
A strong recommendation does not just name a source. It explains why that source suits the specific need and business context. For example, a skateboard clothing brand wants to start selling to shops in another country and needs help with export paperwork and finding overseas buyers. A Chamber of Commerce is a good recommendation because it provides import and export help and business networks, although membership may cost money. A solicitor could check export contracts, but would not usually provide overseas market contacts. The recommendation is justified by matching the need to the source and weighing cost and specialist knowledge.
Local market information
Local councils, government information and Chambers of Commerce can help with local market information and statistics. They may provide data on the local population, spending patterns, competitors or industry trends. This helps an entrepreneur judge demand and plan with evidence rather than guesswork. Remember that free help is not automatically best; check reliability and whether it fits your exact question.
Practise this
Cambridge National Enterprise & Marketing · 5.3 Support for enterprise