S3E1 How to start a new business on a shoestring budget

Cover image for S3E1 of the Start Your Own Business podcast titled How to start a new business on a shoestring budget with Lucy Cohen as our special guest

More than 640,000 new businesses are launched each year in the UK and the popularity of starting up continues to grow. But significantly rising costs mean many people will have to try to start their own business with little or no money.

In this first episode of our third series, we get top money-saving start-up tips from Lucy Cohen of Mazuma, leading provider of low-cost, subscription-based accounting services. With a relatively modest budget, aged just 23, Lucy founded Mazuma with Sophie Hughes in 2006. It’s since grown into a multi-award-winning business with almost 30 employees. If you’re strapped for cash but determined to start your own business, don’t miss this tips-packed season-opener.

Show notes

Find links to content related to the topics covered in this episode below.

Limiting costs


Making sales

Start up business advice and support

About Lucy Cohen

South Wales-based Lucy Cohen started Mazuma with Sophie Hughes back in 2006 when she was aged just 23. Since then, Mazuma has grown into a multi-award-winning business with almost 30 employees.

Lucy and Sophie started Mazuma with a limited budget, and as a trained accounting professional, entrepreneur and small-business owner, Lucy certainly knows a thing or two about watching the pennies and controlling costs. Lucy has also been a volunteer for the Prince’s Trust since 2011 where she mentors start-up businesses.

About our sponsor

Thanks to Dell Technologies for sponsoring series four of the Start Your Own Business podcast.

Dell has what you need to start, scale, and succeed, including end-to-end tech solutions to boost productivity and maximise security so you can focus on innovation.

Our partnership with Dell means you get top products at special prices and a personalised consultation from a dedicated tech adviser who will get to know the goals of your business. Find out more by emailing the Dell for Startup UK representative at [email protected].

What next?

To make sure you don’t miss an episode:

  • Find “Start Your Own Business” on your podcast app of choice and hit the subscribe button – we recommend Apple Podcasts and Spotify
  • Subscribe to our newsletter

To get tips, support, and inspiration from other small business owners:

Join our thriving Facebook group, the Donut Small Business Collective

Click to find and listen to the Start Your Own Business podcast on Apple Podcasts, Spotify or Amazon Music