THERE is a big gap between the desire to run your own business and the actual daily hands on experience of doing so.

True, anyone thinking of setting up their own business from scratch or buying an existing concern should spend some time on background research.

Any budding entrepreneur needs to understand the competition, the market place, the workings of the industry of which he or she will be part of, company law – the taxman takes a dim view of those late with their VAT or income tax payments – and basic forms of accountancy.

But only time at the helm will enable a business owner to fully gauge what is needed to run his or her business.

And it is then the questions arise and you look around for help and advice.

And that is when an organisation like Business Link East, which is celebrating its first anniversary, comes into its own.

Staffed with advisers with a range of business backgrounds, the agency can provide valuable insights gleaned from hard-gained experience.

It is fair to say that Business Link, which has existed in one form or another for some years, has endured a chequered history.

But the comments made to ET Business by business owners in the Peterborough area suggest it has hit on a winning formula with its move away from providing help services to gaining an in-depth knowledge of the local business scene and being a broker for services that already exist.

But 12 months is not long and business leaders in Peterborough want to see more evidence of the effectiveness of the current set-up.

While Business Link East may have beaten its own target for the number of businesses with which it has contact, the real proof of the agency's usefulness is whether business owners feel the advice and help they are receiving has made a positive difference to the bottom line.