AN ONLINE tool to help would-be entrepreneurs turn their ideas into a business has been launched by Business Link Northwest.

The Six Steps to Starting a Business range from assessing the strengths and weaknesses of the starting point to selecting an e-commerce system.

Rob Capleton, a Business Link Northwest adviser who covers the Merseyside area, said: “When you’re starting a business, there is lots to consider and you need to cover a vast amount of ground.

“This new series of e-communications pulls everything together in one place, and literally walks you through the process of taking an initial idea and developing it into a viable business that’s ready to launch.

“The beauty of Six Steps to Starting a Business is that you can complete each step in your own time, and it presents useful information and guidance in different interactive ways to help keep the process interesting.”

The first step helps budding entrepreneurs to appraise their strengths and weaknesses and consider the support that will help to make their enterprise a success.

The next e-bulletin focuses on finding and developing a business idea, researching the market and how to put a price on the product or service.

The third step helps entrepreneurs to understand the legal requirements involved with running a company, business structures and cashflow forecasting.

The guide then looks at location and cost – such as whether to work from home and how to decide whether to lease or buy vehicles and equipment.

Step five looks at setting up a basic record system and looking at tax, accounts and VAT.

The final section covers a number of other details, such as selecting a bank account, planning for and investing in IT and e-commerce solutions and becoming an employer for the first time.

BUSINESSES can access face- to-face support from a Business Link adviser with specialist industry expertise. Call 0845 00 66 888, e-mail advisers at info@businesslinknw.co.uk or visit businesslink.gov.uk/northwest