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January is a time when many of us will naturally be thinking about various hopes and intentions for the year ahead. But what if your ambition is to launch your own business? 

Starting a side hustle during a cost-of-living crisis isn’t for the faint of heart. After all, in the UK one in five new businesses fold in their first year, and over half of start-ups don’t make it past five years. But that doesn't mean it's impossible.

Join our host, Philippa Lamb, and three fearless entrepreneurs as they discuss real-world tactics for bootstrapping your dream business. This month we hear from:

• Founder and CEO of Vestpod, Emilie Bellet;
• Founder and CEO of Sprive, Jinesh Vohra; and
• CCO at PensionBee, but also Founder of childrenswear business Little Circle, Lisa Picardo.

 

Episode Breakdown: 

01:50 The idea and first steps

09:08 Networking with the competition

11:48 Business planning

15:26 The pros and cons of co-founders

18:04 Managing your money effectively

22:04 Sole trader versus limited company

24:54 Common mistakes and expert advice

 

Further reading:

To learn more about starting your own company, check out these articles from PensionBee:

• Episode 24 transcript
• The pros and cons of self-employment
• What you should know about being your own boss
• Are the self-employed saving enough for retirement?
• How to manage your money when you’re self-employed
• Pension contributions from your limited company
• Six ways to reduce your tax bill as a limited company
• Sole trader vs limited company: how do the tax savings stack up?

 

Other useful resources: 

• Set up a business (GOV.UK)
• Online graphic design tool for businesses (Canva)
• Find the best accountant for your small business (Unbiased)
• Startup School for Seniors
• The Business Model Canvas (Strategyzer)

 

 

Catch up on the latest news, read our transcripts or watch on YouTube:

• The Pension Confident Podcast
• The Pension Confident Podcast on YouTube

 

Follow PensionBee (@PensionBee) on X, Threads, Instagram, TikTok, Facebook and LinkedIn.

Follow Sprive (@SpriveApp) on X, Instagram, TikTok, Facebook and LinkedIn. 

Follow Vestpod (@Vestpod) on X, Instagram, TikTok, Facebook and LinkedIn.