To run a business from your home, you may need permission from your:
- mortgage provider or landlord
- local planning office
- local council
Additionally, you may need separate insurance for your business, as home insurance may not cover your business. An insurer can be found on the British Insurance Brokers’ Association website.
Ultimately, running a business from your garage will depend on the type of business you are setting up. The nature of your work needs to be suitable for home working. Even minor inconveniences to those who live nearby can cause friction. Premises are usually the next biggest overhead after salary, so not renting business premises can keep your outgoings down.
You may find that even running a small desk-based business may be prohibited in any contracts you have signed, so make sure you investigate before you get started. You may need to take out a separate business insurance policy since your home insurance may not cover your business equipment.
Starting a business from home can have some tax implications as well, and it’s important to consider how this may change your tax responsibilities before getting started. Lower running costs for your business are one potential benefit, but having a home office can lead to not separating business hours and relaxation hours, hence the recommendation to have a designated space for your business.
How do I start my own business from home UK? If you need help starting your own home business, our experienced business lawyers can assist as part of our membership. For a low monthly fee, you will have unlimited access to lawyers to answer your questions and draft and review your documents.
Before you start your franchise, you need to know what types of companies are available for purchase. You can find a list of home-based franchises in our franchise directory.
On average, UK startups budget £5,000 to launch. The average UK startup spends £22,756 in their first year. However, only 42.4 percent of small and medium enterprises survive past their first five years.
Creating a solid business plan is crucial for anyone who wants to start their own business. Here are some key questions to consider when creating one: What is a business plan? Why do you need a business plan? Begin with your business idea, write it down, talk about it, and continue to workshop it.