How to start your own business

The DIY entrepreneurs who are putting together a DIY weekend
Meet the Hatch entrepreneurs putting on the DIY weekend (30 Sep – 2 Oct)
Dirk Bischof, CEO of Hatch explains how the organisation helps people wanting to start ther own business and says ‘Get in touch now’

If you are thinking of starting your own business or social enterprise, is it because you want to jump in, or are you being pushed?

There is a big difference. And, if you are being pushed into entrepreneurship by your circumstances, you can face more challenges than just “starting a business”.

Starting a business, in itself, can change your life and the lives of those around you. However, we have identified several factors that can make starting a business harder for some.

Our mission at Hatch is to identify the things that get in the way of starting or growing a business and to help you deal with them.

The odds are that you learned how to work out the square root of 16 at school. But nobody taught you how to draw up and actively use a personal budget. This knowledge could offer an edge starting up in business.

Then there is the sort of community you have grown up in. If mum or dad, Uncle Johnny, or the mother of your best friend has run their own business, you will have easy access to informal advice and mentoring as well as the confidence that comes from seeing other people succeed as entrepreneurs.

Business is also about money. Some families have built up capital through the increase in the price of their homes and having been able to earn enough to save. Studies show that, if you are from a wealthy background you will find it a lot easier to borrow both to start a business and to fund its expansion.

On the other hand, starting up a business from a low-income background or coming out of unemployment means that access to advice through a mentor and to access to money is often not readily available.

So what does Hatch do about issues like these? We believe the answer is a thriving “ecosystem” that, for two to three years, supports budding entrepreneurs who lack the family or community “ecosystem” that others may enjoy. We have supported over 125 entrepreneurs since 2014, and our feedback shows that we are slowly getting better at it.

Our ecosystem, our entrepreneurial community, is made up of our staff and trustees, often entrepreneurs themselves, our mentors, advisers and partners. While mentors come from corporate partners like Deutsche Bank who offer dedicated volunteering days for their staff, it is the growing entrepreneur community that makes-up a crucial part of our ecosystem.

For the first time this year, we are holding a weekend enterprise retreat called “DIY Weekend – Dream, Learn, Play”, run by our entrepreneurs for entrepreneurs and those interested in starting up. Informal learning and networking with peers who provide support and advice can make a big difference.

Right here in Brixton, ideas, knowledge and resources are being exchanged and contributing to the slow but steady growth of our ecosystem of entrepreneurial support.

This, over time, will be able to address the many barriers to entrepreneurship, not by itself, but with the collaboration of everyone in it and those around it that feel passionate about making a difference or wanting to get entrepreneurs off the ground.

To get your business off the ground or to be part of our DIY Weekender, give us a call on 020 7993 0074 or have a look online.