Call 020 7794 5757 - Email info@numerallp.com

Your business vision

What are your ultimate goals?

If you are starting a new business in the London area, Numera can provide expert help and advice...

If you are starting your own business, you probably have a great idea, a new way of looking at things, or a vision.

But have you thought about how you can exploit a niche, or differentiate yourself from the competition with a Unique Selling Point (USP)?

Many business owners underestimate the importance of researching their target market and learning about the potential competition. Yet undertaking market research in the early stages can minimise the chance of failure.

Know your competitors

Whatever your business, there is always competition. Before you start up, make sure you have studied all the potential competitors.

This means indirect as well as direct competition. Direct competition is usually obvious: a new plumbing business will be in competition with all of the other plumbers in the area.

You might need to think more laterally to identify the indirect competition. For example, a new flower shop on the high street should view the local chocolate shop as a potential competitor (since both are in the gifts market); while the Italian restaurant has competition from the local cinema.

Know the difference

Having thought laterally to identify them, continue thinking in the same vein to work out how to persuade potential customers to come to you.

For example, the Italian restaurant could consider a cheap early evening menu to capture theatre and cinema-goers without taking too much more of their hard-earned cash.

Showing that you have conducted research into your market will also help when you come to present your business plan to would-be financiers.

A vision based on real research has more chance of becoming realised.

Numera have a great deal of experience in helping start-ups in the London area. If you would like to talk about your business start-up, Contact us for more advice.

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Company details

020 7794 5757

Numera, 4th Floor Charles House, 108-110 Finchley Road, London NW3 5JJ

Numera is a trading name of Numera Partners LLP | Company Registration No. OC365787 | Place of Registration: England & Wales | Registered to carry on audit work in the UK by the Institute of Chartered Accountants in England and Wales.

About us

Numera is a newly established forward-thinking firm of chartered accountants, with over 25 years in experience of audit, accountancy, taxation and business advisory services.

We work with clients in a large variety of industries and sectors; from sole traders to multi-million pound turnover organisations. We aim to create and maintain a close relationship with our clients. By being so involved, we are able to identify opportunities for our clients as well as possible risks that our clients may be faced with.

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