Against the current backdrop of global financial markets in turmoil, you would be forgiven for thinking that now is not the ideal time to be starting up your own business.

Not true, says John Middleton, Course Director of an innovative new Masters in Creating and Developing Your Business at the UK's Bath Spa University. According to Middleton, throughout history, entrepreneurs have launched businesses in the heights of 'boom' and the depths of 'bust'. The secret of success, he suggests, is less about economic backdrop and more about having an idea that is well thought through and well executed.

"Success comes down to a mixture of factors: of course, timing is relevant, but the real key is firstly to come up with an offering that your chosen marketplace responds positively to, and secondly to ensure that you achieve a healthy cashflow. Cashflow is really, really important - you can have a brilliant idea that the market loves, but if you run out of money, more often than not that's the end of the adventure."

So why a Masters focussing on business start-up?

According to Middleton, it's simply a matter of listening to your customers.

"We've been finding that a growing number of our undergraduate students - particularly those in creative fields like music, dance and fine arts - are leaving university with more of a desire to work for themselves than to join a company.

Add into the mix people who want - for whatever reason - to get out of corporate life and you have a significant population who are drawn to the idea of running their own business."

The Masters in Creating and Developing Your Business aims to provide the information, guidance and support people will need to successfully launch their business idea. The programme is full time, and consists of six taught modules designed to cover all the main aspects of establishing and running a successful business, and a project/ dissertation, which gives students an opportunity to apply what they have learned to their own business idea.

Module titles include Market Research and Business Planning; Finance and Accounting; Developing a Viable Business Idea; Preparing to Launch a New Venture; and Techniques for Business Growth and Development.

The programme is normally completed in one calendar year over three trimesters. There is currently one entry point - in October of each year - with additional entry points planned to come on line as the programme grows and develops.

Middleton has no doubt about the value of the programme.

"It's a unique opportunity. Think about it: a chance to spend a year developing your business idea - maybe even go 'live' -; a supportive environment in which you can share thoughts and ideas with others who are going through a similar experience; ready access to advice and support from people with the practical expertise and knowledge that is so vital to the successful launch of a business.

All this, plus the added bonus of gaining a recognised postgraduate qualification at the same time!"