In the UK, for many people the decision to start a business is sparked not by a desire to be labelled as ‘business people’ or ‘entrepreneurs’, but by a passion. That could be a love for food – inspiring people to start their own restaurant – or a fondness for animals – motivating them to set up a pet shop or cat café. But regardless of how passionate they are about their new venture, for many business owners starting their own business is a leap into the unknown, where they must become a jack-of-all-trades, quickly mastering various roles and covering a range of business functions.

At Start Up Loans, part of the British Business Bank, we understand the challenges faced by first time business owners. We want to help those people who want to take the leap and start their own business beyond just financial support. That’s why we’ve launched the ‘Essential Guide to Starting a Business’ – a free, interactive resource developed to provide useful, actionable, and jargon-free advice to help small business owners navigate starting their own business.

This comprehensive guide offers a step-by-step approach to launching a business, covering 11 key topics in a format that is straightforward and easy to digest. The guide starts with researching the business idea and starting business strategy and planning, but moves on to topics including understanding company structures and incorporating businesses. Then the guide deconstructs and explains the complex world of business finance, delving into tax and access to finance.

The guide covers the basics of setting up a supply chain and protecting intellectual property, which will be an unknown area for many first-time business owners. Finally, it finishes with marketing and networking,also areas that new entrepreneurs may not feel confident about depending on their previous experience.

The guide also features a comprehensive glossary that demystifies jargon, recognising that stepping into the world of business can be overwhelming with unfamiliar terminology. This handy tool ensures that budding entrepreneurs can confidently navigate the business landscape and fully understanding the language used within it.

At Start Up Loans we believe that anyone can be a business owner, regardless of their background or experience. They just need a good idea and the right support and guidance to get started. The guide is intended to provide that support, offering practical advice and a clear roadmap for those at the beginning of their business journey.

Start Up Loans is committed to supporting business owners hoping to start or scale up their ventures. This includes individuals who may not yet see themselves as ‘business owners’ or ‘entrepreneurs’, but as ordinary people pursuing their dreams. These are the people who often need a bit of additional support when starting out, and it is our hope that they will find the guide a valuable resource.

For us, supporting smaller businesses is about more than just offering affordable finance. We believe that support and guidance is just as important and that’s why we also offer all of our Start Up Loan recipients 12 months of free business mentoring.

A mentor can provide an unbiased assessment of your current business plan, allowing you to make more informed decisions and gain access to knowledge and resources that might not otherwise be available.

Our network of Business Support Partner organisations also provides access to pre-application support, including helping with business plans and providing guidance through the application process itself.

Krapow Thai restaurant-owner, Phil Williams, our newly appointed Start Up Loans Veterans Ambassador for 2024/25, recently spoke about the value of the support he received, commenting: “I dedicated 16 and a half years to serving in the armed forces, and upon leaving, I made the decision to start my own business. The army had equipped me with resilience, discipline, and organisational skills, but the world of business was entirely new terrain for me. The mentoring I received was invaluable – it guided me through the intricacies of developing a business plan and formulating a strategy. I am immensely grateful for the support that helped me get my business off the ground and running.”

For more information and to download the ‘Essential Guide to Starting a Business’, please visit The essential guide to starting a business | Start Up Loans. We hope this guide will act as a companion for the journey ahead, exemplifying our belief in the potential of every individual to succeed in business with the right tools and support.