Get out there and start networking

When you are just starting out in the world of business it is important to get your face out there and make contacts with other people in business as you never know when you will need to call on the advice of more experienced people.

With the continued growth of online social media, both for personal and business use, such as Facebook, Twitter, LinkedIn and Google+, you can now engage with other like-minded entrepreneurs digitally as well as face to face.

A lifeline of support

Networking, both event-based and online, particularly with businesses that are involved in your sector, will provide you with the opportunity to share experiences and ideas with one another, as well as making valuable contacts with potential clients.

It can also give you peace of mind as you may be able to call upon your connections for support in the early days, help with expansion plans further down the line or just as a source of information to bounce ideas off.

You can also discuss issues that affect your particular area of business, such as legal and regulatory developments, employment matters, supplier contacts and customer services.

Making yourself and your new company an established and regular networker, you can propel your business onto the radar of other companies and industry figures, as well as allowing you to build mutually beneficial relationships with suppliers or potential customers, which in turn will help to expand your market.

To register or not to register, that is the question

A trademark does not necessarily need to be registered but an unregistered trademark will rely on the common law of "passing off" – which allows you to pursue those who do not have your permission to use your trademark.

This can be difficult to prove and it is an expensive process, so it is always best to register your trademark as it quite simply makes defending it easier.

Does networking have a downside?

Of course, there are some businesses that prefer to keep well away from networking and open discussion with others in the same field as they are concerned about giving competitors an opportunity to take advantage of.

This may be a concern for new businesses as the last thing you need is to inadvertently offer up some juicy titbits about your new business to a firm that is established in the industry.

However, the benefits of participating in networking events generally outweigh any negatives, so get yourself along to the next one or start looking online for like-minded business people.