Newsletter #111 - Employing staff from overseas, Home office insurance guide, Shop insurance, 10 tips to consider before starting up a new business, Mobile marketing guide for small businesses...

In this week's Business121:

1. 60% of new businesses are now started at home
2. Employing staff from overseas - a legal guide
3. Working from Home - Home Office Insurance Guide
4. Guide to Shop Insurance
5. 10 tips to consider before starting up a new business
6. Mobile marketing guide for small businesses
7. Year end tax planning guide for individuals and businesses

Small Business News

8. Income Shifting proposals condemned as 'retarded'
9. Budget 2008 - FSB asks Chancellor to give small companies a break
10. Price rises fuel Bank's inflation fears
11. Small companies fear being sued over disciplinary measures
12. Small business owners not impressed by Dragons' Den panelists

60% of new businesses are now started at home

According to research, a staggering 60% of new businesses are now started at home – that's 1,400 home-based businesses set up every week! In total, there are now some 2.1 million businesses being run from home.

And it's no wonder so many choose to start their business from home. You can use existing rooms, computer, broadband, electricity and phones - so your costs are lower.

Plus, you're not tying yourself into any long-term commitments. Starting a business is hard enough; when you do it from home you immediately lower your start up costs and reduce your level of risk.

Another advantage of working from home, is that you don't have to commute to work - this can give you valuable extra hours that you can put to better use.

There are of course, disadvantages to starting your business from home. It can be very difficult, to separate 'work' and 'home' time. Unless you're disciplined you can easily find yourself distracted from your work or, on the flip-side, spending too much time working.

One important thing that many people don't think about with their home-based venture is insurance. Existing house insurance policies are designed to cover you for domestic use, not for business purposes, and may actually be invalidated if you work from home.

If you are one of the UK's 2.1 million a home-based businesses, we've produced a new guide to Working from Home Insurance. The guide will help you to make sure that you have the right insurance cover in place when you are running a business from home.

On the insurance theme, we have also added a new guide to Insurance for Shop, Pub and Restaurants.

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Employing staff from overseas - a legal guide
From February 29, if you negligently hire illegal workers you will face a fine of up to £10,000 for each offence. This article gives you guidance on what you need to check before employing staff from overseas. It also briefly outlines the new points-based immigration system the Government will start introducing from March 2008 to manage the flow of overseas workers to the UK.

Work from Home - Home Office Insurance Guide
One thing that many people don't think about with their home-based venture is insurance. Existing house insurances are designed to cover domestic arrangements, and may actually be compromised by you working at home. As you'd expect, Bytestart has it covered. Use this complete guide to check you've got your home-based business properly insured.

Guide to Shop Insurance
If your new business venture is a shop, pub or restaurant, there are a number of unique risks you will need to insure against. Here's the complete Bytestart guide to insurance cover for your shop, pub or restaurant.

10 tips to consider before starting up a new business
The key things to bear in mind before setting up a new business - tips on funding, employing people and the biggest causes of failure for startups.

Mobile marketing guide for small businesses
Mobile marketing is ideal for some small businesses such as nightclubs, take-away restaurants, hair salons, retailers and garages. It allows you to offer news, offers or promotions to customers instantly via their mobile.

Year end tax planning guide for individuals and businesses
Important year-end tax planning tips including CGT changes, Inheritance Tax, Income Shifting, Capital Allowances changes, and the new non-domiciled tax rules.

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SMALL BUSINESS NEWS

Income Shifting proposals condemned as 'retarded'
The PCG has submitted its formal response to the Government's income shifting proposals. Such is the strength of feeling against this latest anti-enterprise measure that the PCG has condemned the proposals as 'conceptually retarded'.

Budget 2008 - FSB asks Chancellor to give small companies a break
Following the Government's widely condemned proposed changes to the Capital Gains Tax regime, and more recently - the so-called income shifting 'family business tax', the FSB has called on the Chancellor to give small businesses a break when he delivers his Budget on 12th March.

Price rises fuel Bank's inflation fears
The Times reports that the Bank of England is losing the option of further rate cuts as inflation is fuelled by the steepest price rises in shops for a decade.

Small companies fear being sued over disciplinary measures
According to a new report released by a leading employment law firm, 48% of employers avoid disciplining staff because they feel they will be sued.

Small business owners not impressed by Dragons' Den panelists
Duncan Bannatyne and his fellow Dragons' Den panellists will no doubt be amused to hear that nearly 65% of small business owners say that they would turn their back on an offer from them as they don't believe it represents good value for money.

** For the latest Small Business News, visit http://www.Bytestart.co.uk **

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