Good network connection

Although starting your own company is often presented as ‘going it alone’, most successful entrepreneurs have an extensive support network behind them. Usually more than one. You need the support of your cofounders and early employees, who may have to go above and beyond their official job descriptions as you get your startup firmly established. Emotional support from friends and family can make a big difference to your mental health as you fret about the future.

And crucially, the early days of running your own company are much easier if you also have a great professional network. This shines through in the stories of the startups that have been set up by former Pfizer employees, who were made redundant when the company decided to end its pharmaceutical sciences small molecule capabilities in Sandwich, UK, in November 2023.

Support for the new startups has come from Pfizer itself, as well as from the Discovery Park business park where Pfizer and many of the startups are located. This has included equipment, networking opportunities and advice for legal, financial and practical matters.

Similar support is available at many science and business parks, making it one more important consideration to take into account when choosing where to base your first office or lab. You can also apply for accelerator programmes that will help guide you through the early days of startup life, and some sources of business development funding may also provide support beyond the money itself.

Even if entrepreneurship doesn’t appeal, professional networks can help you navigate whatever course your career takes. Again, many business and science parks are good sources of networking events and skills development workshops for employees based on-site. Mentoring programmes can also connect you with someone in your sector who can help you work out how to achieve your next career goal.

 Long-term success often comes from sharing with others

But a network doesn’t have to be formal to be useful. Chats with former colleagues and professional contacts can provide a vital source of opportunities, inspiration and warnings about the industry that can guide your next steps. We saw the effectiveness of such collegial contacts when the Pfizer redundancies were announced, as people across the chemistry community came together to advertise job opportunities and offer other forms of support for those who were made redundant via the #SandwichTogether group on LinkedIn.

When you’re looking for a new job or trying to secure funding for your startup, things can feel cut-throat and competitive. But long-term success often comes from sharing with others – seeking support when you need it, and helping others once you’re in a position to do so.