One of the best things about starting a business in the internet age is that it’s perfectly acceptable, and easy to start up from home.
In fact, running a new business from a spare room in your own home removes a whole layer of cost and risk, and makes it a lot more likely that your new venture will properly get off the ground.
Working from home is becoming increasingly popular, and it’s not just the big corporates who are offering their staff the chance to work away from the office. Savvy small business owners are now looking to enjoy the benefits it can bring to their ventures.
Recent changes in the law mean that employers are now legally obliged to consider flexible working requests from all employees. A flexible working request could, for example include, working from home or from different locations, working flexibly, or staggered hours.
2.1 million businesses are run from home according to research and 60% of new businesses are started at home – that’s 1,400 a week.
One thing that many people don’t think about with their home-based venture is insurance. Existing house insurance policies are designed to cover domestic arrangements, and may actually be invalidated by you working at home.
With an estimated 2.1 million businesses based at home (a number which is growing fast), many of them operating in a family environment, more and more small business owners are torn between concentrating on a successful career and meeting the needs of a family.
Many small businesses are successfully started up from home, and there are huge advantages of doing this while you get your business off the ground.
The biggest benefit for a small business is that you do not have to fork out on the cost of premises in the early days. You also save huge amounts of time in looking for premises. Another advantage is that you can create more time to work on your business because your commute will be taking a few steps from the kitchen!
But the downsides are huge too. (more…)
As more and more people choose to work from home, the question of how you can reclaim any home office expenses is frequently asked.
The general HMRC rule for claiming tax relief on business expenses is that you can only reclaim costs that have been ‘wholly and exclusively’ incurred in connection with your trade.
Working from home can seem like a dream come true – whether you’re self-employed, or are employed by a company that allows flexible working conditions, it’s a chance to cut out the commuting and work in your pyjamas.
However, you shouldn’t let that relaxed feeling spread too far into your working day – it’s easy to become distracted when there’s no manager looking over your shoulder.
Learn to benefit from the stress-free working conditions the home environment creates, without compromising your business integrity or productivity – and here are a few places you can start. (more…)
As technological advances and work practices enable it, more and more small business owners are deciding to work from home.
Dedicated business premises can also be a big outlay for a cash-strapped startup and coupled with the long-term contracts often required, it’s not surprising so many startups are choosing to start their new business from home.
Just as you have to pay council tax on your home, so your business must cough up business rates for its premises. They can be a pain and an easily overlooked cost when you are starting your business. In some circumstances, you may even have to pay business rates if you run a business from home.
This guide will help you understand what business rates you might have to pay, how to challenge the rates set, and even if you can claim any relief.
Wireless is becoming an increasingly popular way for businesses to share information and work away form the office. According to a survey of 625 SMEs, more than a quarter of staff already does some work from home* – and this figure seems to be growing faster than ever.