Do you dream of starting up your own business but find the thought of it overwhelming and complicated?
It’s not as difficult as you might think, and growing numbers of people are doing it already. According to recent studies, there are 2.9million home-based businesses in the UK contributing somewhere in the region of £300billion to the economy.
SMART Garden Offices, suppliers of high-quality home offices in gardens throughout the UK, have identified the following key areas if you are thinking of setting up your own business:
1 – Deciding What Type of Business You Are Going to Set Up
It may be that you simply want to turn your current career into a freelance service, or you want to try something completely different, but when starting out on your own it’s always a good starting point to do something that you are good at or passionate about, and is of course something that can generate an income. So when you’re starting out its best to keep things simple.
Even if you are setting up a business that doesn’t require financial support, it is crucial that you clarify your business idea, understand who your target customers are and carry out a full competitor review before you commit any of your own time and money.
A business plan doesn’t have to be a complicated document. Put in its simplest terms it should provide a complete overview of your business, including who your target customers are, how you will drive the business, where you will site it, who will be working for the company (even if it is just you) and how the business will be funded (even if it is from savings).
3 – Make Your Home Business-Ready
Planning permission is not often required as long as your home is still used mainly for residential purposes, or the garden office meets permitted development and planning regulations. When working from home you should notify your mortgage provider, and also your neighbours
You will also need to consider business insurances and health and safety matters, especially if you will have customers visiting you.
4 – Registering Your Home Business:
Every new business needs to be registered with HMRC and if you’re setting up as a limited company, then you will also need to inform Companies House. Businesses that turnover £85,000 or more must be registered for VAT.
If you’re running your home business from your kitchen table then you probably won’t be subject to business rates. But if you’re working in a room that’s used exclusively for non-domestic activities, for example a consultation room, then business rate charges may apply.
For more information on how to set up your own business, visit the Government website at https://www.gov.uk/set-up-business.
Starting a business may sound scary but there are many benefits and even more if you do that from the comfort of your very own garden office. Here are some of the rewards of setting out on your own:
No office politics – Running your own business means that you are now your own boss, able to do things your way, without having to answer to anyone else.
Environment – Working in the surroundings of your own home can improve productivity. By setting up your own dedicated office space means that you are able to have everything you need at hand, can even wear whatever clothes you want, and can turn up the heating whenever you want without anyone else complaining!
No commute – If you spend a good proportion of your day commuting, having to deal with traffic jams, lengthy delays or cancelled trains then the time and cost savings can be considerable, which in turn, will improve your productivity and reduces your stress levels.
Reduced costs – Running your business from rented office spaces can be costly and rents are constantly on the rise. This is dead money, whereas purchasing your own garden office can be far more manageable and will provide you with a space that you can own outright.
Better work life/balance – An improved work-life balance is the key reason for most people to set up businesses from home. It provides flexibility as you can work around other commitments, spend more time pursuing your own interests rather than commuting and with your own dedicated space at the end of the garden, you can close the door to your private life and make that very real, and very important work/home life divide.
If you’d like to know more about creating your very own home in your garden, then get in touch with us today. We have installed high-quality offices in gardens across the UK mainland, including London, Kent and Sussex, the north-west of England, plus Scotland and Wales, as well as in our home county of Suffolk. You can contact us by following this link.