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Market research and planning are vital if a new venture is to succeed. Companies House records can reveal details of other operations in your market; and often there is no substitute for simply going out onto the street and asking local people or businesses whether they would use your new product or service - and if not why not.
Looking into available grants is also important: backing for young businesspeople or individuals creating jobs in low-income areas is often available through the local Business Link or council.
Free training on writing a business plan and many other aspects of self-employment can be found through the same routes.