Home Business Guide

THE

HOME BUSINESS

GUIDE

A GUIDE TO STARTING AND GROWING A BUSINESS FROM HOME

BIS

Department for Business Innovation & Skills

CONTENTS

Introduction 1. Start with an idea and a plan 2. Take care of household and company admin 3. Create the perfect work environment 4. Create the right impression 5. Work on the move 6. Grow the business without outgrowing the home Useful links About the author 3 5 11 20 28 32 36 42 44

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INTRODUCTION

ecord numbers of people are starting a business and becoming their own boss and over 60% of these businesses are started from home. Could this be an option for you?

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Up and down the UK, people are spotting gaps in the market and realising there are customers for the skills, knowledge or assets they have developed through employment or personal passions. These entrepreneurs are using their home space to bring business ideas to life. There are many benefits to a home-based business, including the 60second commute, being able to build a business around family life, and reduced overheads from not having to pay for commercial premises. This is why people choose to start at home We’re now seeing growing home businesses make full use of technology and communications to reach customers and generate income and profits without having to expand out of their home space.

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Is a business based at home right for you? Ask yourself:

Do I have a product or service that people will pay money for? This is no different to any kind of business in any location – a bright idea needs to be supported by good market research and a sound business plan in which you demonstrate how you will generate sales, pay the bills and make a profit. See pages 6–7 on how to come up with an idea and pages 9–10 for how write a business plan. Check out Lord Young’s Enterprise Report (www.bis.gov.uk/make-business-yourbusiness-report) for links to useful resources and support to start and grow. Are...