How to pick a business idea

You want to become your own boss but you still need that big idea? Don't panic!

There's so many ways you can get creative. You might not have even realised it yet, but you may have already found the idea and you just need to find a way to tap into it. Or maybe you would like the opportunity to explore different business ideas?

Remember, not every business starts with a 'eureka' moment. Most successful businesses are actually just based on better versions of something that is already out there and not on a new invention or radical idea.No matter where your head is at, this area can help. Start by asking yourself these questions:

 

  • What kind of work suits you?
  • What are your hobbies and interests?
  • Do you have a skills that's in demand?
  • Can you spot a new opportunity?
  • What hurdles do you have to overcome?
  • Can you solve a problem?

Shaunnah Crosbie
Ideas Generator

 If you’re not quite sure where to start, then why not use our Ideas Generator? It gets you thinking about your hobbies, skills, interests and generates a useful list of business ideas that you could explore.

Cameron Reardon
Business Factsheets

If you know what you want, then our Factsheets could be for you. There are hundreds to choose from, so there’s a good chance there’s one that matches the idea you have in mind. You can download them to your phone or laptop and read them at your own pace.

(Please note - these services are provided by an external organisation and the Welsh Government accepts no responsibility for the content)


So you've got your idea? Now you'll want to know how you can protect it

Your new idea could be anything - a new product/service, a new brand, you could have even written a song!

There are lot of ways you can protect your business idea but you will have to find out if is original first.

Take a look at the Find Support for Inventors Business Wales Guide and watch these great videos from the Intellectual Property Office about idea protection