Answer: Yes, it is possible that small start up company implements ISO 27001 - we have quite many such clients who have successfully done that with our toolkits. Some companies will find ISO 27001 more useful than others - each company needs to decide which benefits can be achieved on their own . This article will help you with details: Four key benefits of ISO 27001 implementation https://advisera.com/27001academy/knowledgebase/four-key-benefits-of-iso-27001-implementation/
Should they take external help for this project or is it possible for them to initiate this on their own with some virtual help from outside?
Answer: This depends how quickly this company needs to implement ISO 27001 - if this is something urgent, then it would be better to hire a consultant; if this is not so urgent, and if there are some confidential data that should not be shared with others, then they can implement the standard usin g the Do-It-Yourself approach using some online tools.