Business investment/idea????

scooper

i have a realative who has £10,000 in savings and is looking to invest or start a small business,now i know you dont know what he does or can do but has anyone got any ideas of what he could do,apart from give it to me of course,already suggested and told to bog off!!.

MDUK

Without knowing his background, skills or interests, i am not sure how anyone could give you any meaningful ideas. If he is looking for inspiration they perhaps he should consider visting the franchise exhibitions, the next one is in Manchester in January.

There is also a lot of info on that site on franchising.

scooper

thanks,yes i know its difficult one isnt it.
he is into computers alot and also used to be a chef.
i will tell him about the exebitions.

Savvy_Sue

If he wants to invest rather than be directly involved I'm sure there is an umbrella body for people who want to invest into small businesses which need just a bit of help but I'm desperately trying to think of the right word for it. Sort of Venture Capitalists but more philanthropic than that. Maybe someone else will have some idea what I'm waffling on about!

scooper

ok thanks,i sort of understand waht you are saying but ...not!!hahaha,sorry maybe its me but could you explain a little more.
I think what he wants is somewhere he can invest his money but maybe be involved in whatever it is,to be honest im just asking questions on his behalf,so he would ask more.

Mark7799

What about contacting an organisation like the local Chamber of Commerce? They may not be able to help him directly but could signpost him on to a relevant organisation?

Savvy_Sue

Mark7799 wrote:

What about contacting an organisation like the local Chamber of Commerce? They may not be able to help him directly but could signpost him on to a relevant organisation?

I think Mark's suggestion is good, I'm afraid my brain hasn't yet re-engaged to allow me to be more helpful. I know that in the theatre world the kind of people I'm thinking of are called 'angels': they sink their money into some show or other hoping it will be a huge West End hit and they'll get their investment back, but it often doesn't happen. But I'm sure there is a similar scheme to allow people to invest in other people's businesses, especially new ones, with a few more safeguards in place. So although there's still the chance of losing money - as there is with pretty much any investment - it's a 'feel-good' way of putting your spare cash to work.

Another group to contact - who might actually know what I'm wittering on about! - could be The Prince's Trust. They help under 25s set up businesses, but they might know who helps over 25s (if anyone!)

MDUK

Savvy_Sue wrote:

Another group to contact - who might actually know what I'm wittering on about! - could be The Prince's Trust. They help under 25s set up businesses, but they might know who helps over 25s (if anyone!)

The Princes Trust is under 30

robertbruce

Hi
If your relative buys a copy of Franchise Magazine, he will see lots of ideas for different types of business. Some are based on retailing, some on merchandising, some on hard graft with your hands, but all are possible as future income earners or lifestyle businesses to suit the needs of individuals. Worth a look. You can even suggest setting up for himself on the basis of ideas gained from reading it, but be careful of any scheme which requires lots of money invested in it as it can consume more than you can imagine. Good luck. Regards. Bob.

sa1nt

Hi Scooper

The important thing I would say is do something that he is interested in & start small & build up (with things like stock & advertising).
If he was a chef, he could perhaps look at supplying local restaurants/cafes with stuff that he knows they use. It could be something simple that ordinary people not in the trade wouldn't know about. Importing cheaply perhaps.

If he's into computers, he could offer to teach people basic computer skills, or teach people how to keep their pc free of viruses etc. All the expense would be a bit of advertising & maybe some business cards whilst he gets up & running.

I started a few years ago importing sports goods as that was what I was into & interested in. I picked a product, researched prices then sourced the goods from Taiwan using globalsources.com website.
Then when that product was going okay, I picked & researched another one.
I didn't have a lot of money to play with so it was hard to get companies to sell small orders quantities to begin with, but slowly built up using profits from 1st order to fund 2nd etc etc.

If he's into computers, he could offer to teach people basic computer skills, or teach people how to keep their pc free of viruses etc. All the expense would be a bit of advertising & maybe some business cards whilst he gets up & running.

Just get him to write down a list of stuff he is interested in or loves to do or is good at, could be a hobby as well as a previous job. Once he gets the brain thinking it will come up with all sorts of stuff.

Hope he finds something fun to do
Best wishes
Julie

beautab

Hi all!!
I recently received £5000 from a loved one and i would like to invest it in a new business (not stock market or houses pls!!). Can anyone offer me some ideas? 'Might also consider going into business with someone who has the ideas but no cash. Any offers??