By Mia Aitken and Fiona Vitija
Starting a new business can be an exciting but daunting experience, especially for young entrepreneurs. It requires dedication, hard work, and perseverance – and there’s no shortage of it in Islington.
Small local businesses in Islington
Some of the local business ideas grow out of strong environmental beliefs as Islington residents are becoming increasingly aware of the environmental impacts plastic and other materials have on the planet.
Jordan Perata, 25, the founder of zero-waste store called Kilo left his job as an interior designer in 2019 and restored a run-down shop at 518 Holloway Road, which became Kilo in August 2020. They now sell local and sustainable food by weight, as well as other things such as home goods and eco-cleaning products.
Emma Perata, 49, Jordan’s mother and a sales assistant at the store, said, “We make it our mission to source ingredients that our customers may want… Now we sell and source products with no disposable packaging”.
Emma Perata in front of Kilo. Image provided by Kilo.
Starting a new business
As final-year students begin their exam season, many are looking to make their mark in the professional world. When we asked students what they feel would be their next step, 53% said they would like to work on their own business. Jonathan Griffins, 21, a student at London Metropolitan University, said, “I do not like the idea of working for someone.”
Survey results conducted on students. Chart by Mia Aitken.
Sometimes, inspiration comes from the most obvious places – friends and family. Cecelia Attic, 22, has recently launched Positive Potatoes, an online shop on Etsy, where she sells handmade and customisable potato plush toys. The idea came from an inside joke with her friends, and the name stuck. “My idea came from many of my friends feeling stressed around their final year at university and what they will do next; this also left them feeling negative,” she explains. Though she only recently started her business, she has reached the milestone of a hundred sales with only five star reviews.
However, many people do not know how to start their businesses. Experts tell Holloway Express how to turn your business idea into reality.
First of all, identify a problem and find a solution, says Entrepreneur.com. Conducting market research and understanding the target audience can help entrepreneurs tailor their products or services to meet the customers’ needs.
Secondly, write a business plan. A well-crafted business plan is essential for any new businesses. It outlines the goals, strategies, and potential challenges of the venture. It can also help entrepreneurs secure funding from investors or loans from banks ‘Small Business Development Center’ states.
Thirdly build a network Building a network of contacts and mentors can be valuable for entrepreneurs . Networking events, incubators, and accelerators can help entrepreneurs connect with like-minded individuals and gain insights and support. NIbusinessinfo.com says this is a vital.
Lastly dont forget to embrace digital marketing: In today’s digital age, online presence is critical for any new business. Entrepreneurs can leverage social media platforms, search engine optimisation, and email marketing to reach a broader audience and drive sales. Over 4.1 billion people use social media Statista reports. Social media is the easiest and cheapest way to reach your demographic.
Starting a new business is not easy, but with the right mindset, resources, and support, it can be a rewarding experience. By identifying a problem, developing a solution, and executing a well-crafted business plan, young entrepreneurs can turn their ideas into reality and positively impact society.
If you’re interested or have always wanted to start your website, check out the gov. UK website and use the Entrepreneurial Handbook for more help on how to get your ideas going.
Check out our infographic for the seven critical steps in starting a business.
Infographic by Fiona Vitija, information courtesy The Hartford.
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