Run a Business from Home

When downsizing your life you may decide the time is right to start that business you’ve always longed to own. Rather than buy a commercial property why not start small from your home?

Your Home

The joy of starting a home business means that you can fit it in around your daily routine. Rather than work from nine to five you can work weekends or evening and into the night if you so wish. Days out can be arranged without having to book time off and please your boss.

Mortgage

If you still have a mortgage you must notify your mortgage lender that you intend to start a business and work from home. Normally they will not be bothered as long as you are not turning the house into a production line or doing anything to change the structure of the building from a home to an industrial unit. This would also infringe planning laws with your local council.

Current Job

When downsizing your life you may have downsized your job rather than resign you may be working several days each week. This would be ideal while you set up your home business as you will still have an income and would not be reliant on earning a wage from the new business straight away.

As long as your home business does not detract from your permanent job in such a way that you could be accused of stealing business contacts or contracts there should be no problem with your present employer. In fact there is no need to even inform them that you intend to start a business from your home.

Local Council and Neighbours

Some local councils are very particular about residents working from their homes particularly if it involves lorries dropping off large parcels at all hours and the sound of machinery chugging away. In most instances those that work from home may use one room, perhaps a bedroom, shed or garage and no one will even be aware that big business is operating from number ten Maple Crescent!

Deciding What Business to Run

You may well want to start a home business but have no idea what to do. Think about your hobbies, could one of these be expanded to create an income? If you enjoy baking perhaps expand into wedding and celebration cakes. You may need to take a health and hygiene exam before starting this form of business but if you are keen on cooking then it will be an easy task to accomplish.

You may have a way with words which means that you are able to start writing articles or short stories for publication. With most homes having at least one computer it will not take much expense to get started.

Advertise

One part of having a home business is that you may need to advertise. It may be worth bearing in mind that your home address will be visible on a website or headed notepaper. This could mean that you will have people knocking on your door late at night and could also prove to be a threat to your home’s security. If you do not want this intrusion in your home life purchase a box office number or employ an address service where your post will be diverted and retained for collection.

Storage

There may come a time when your home business expands to such a extent that you need more room for storage. Perhaps the time has come to hire staff or have a bigger work area. Look in your locality for a small works unit or even ask around to see if you can hire part of someone’s work space. Keep your business local to your home and run it in the same way and you will still feel as though it is your home business.

Tax and Accounts

When running even a small business whether it is a home business, in a shop or factory unit you must notify the Inland Revenue. You will have to keep a set of accounts in order to complete your self assessment tax return each year. If you are unsure how to do this task look for someone who has this skill and take advantage of their services. No doubt the accounts person will be working in his or her home business as well.