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Starting a Business from your Home? Here’s What you Need to Consider

Starting a Business from your Home? Here’s What you Need to Consider

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For many, running a business from home is considered a dream; there’s the luxury of not having to commute every day, or having to answer to any bosses or annoying colleagues – which can certainly be an attractive prospect.

That being said, setting up a business at home isn’t necessarily a walk in the park, as like any business this needs to be built on a solid foundation to help it survive. What’s more, there are a few other potential limitations to working from home that you need to think about and work around to ensure success.

To help you out, in this post you can find everything you need to consider to start your home business off in the right way:

The Legal Aspects

When you’ve decided just what it is you want to sell or provide, you need to make sure your business is legitimised and legal. It might be that you need a licence to sell certain items, which is where this useful Government tool can help you out. Also you need to:

  • Register your company
  • Keep records of your finances
  • Complete your taxes
  • Register for VAT

Again, further information regarding setting up your home business can be found on this helpful Government webpage.

Making a Name for Yourself

Without a big marketing team behind you – or an external business location – you need to think about how you’ll make a name for yourself. The simple answer is to pursue a mix of traditional and digital marketing techniques including email marketing, posting flyers and setting up social media profiles to help create awareness of your brand, before upscaling this later.

Housing your Supplies

If you plan to sell a product, you should also think about where this is going to go. Filling your home isn’t ideal, so you might want to hire a garage space or storage unit for your supplied goods to occupy.

Sending and Receiving Goods

Your deliveries are also important so you should use an external delivery company like TNT to manage this on your behalf. Not only will such companies ensure your customers get their goods, they can also move your items between storage locations without you having to leave your home base.

Spinning Plates

The final thing to consider is whether or not you’ll be able to manage all of this yourself. At first this will be like a plate spinning act in that you’ll have to handle all of this at once, so make sure you’re ready to take on the challenge before you start officially trading.

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