If you’re thinking of starting up a business and running it from home, do remember there’s quite a lot to think about.

Here are a few questions it will be helpful to ask yourself, plus some ‘what to do’ tips.

These will help you ensure home working is right for you and for your type of business.

1: Will I be allowed to run my business from home?
Be aware that you cannot run certain businesses from a domestic property and typically this applies to those that have the potential to create a lot of traffic (human and vehicular) or noise.

What to do
Check with your local council to see what you can and cannot do.

You should also do this if want to put up a sign or advertisement outside your home or if you need a licence to operate.

2: Will I have the right amount of space?
If you’ll simply need a computer with internet access, a phone and a suitable space to work, then a home office may be a great starting point.

You do need to check however that this will fit in with the rest of your home and family and that you’ll have enough space too.

What to do
Think about where and how you’ll be working.

Do you have a room or area you can convert into an office or will you be working on the kitchen table?

Also, think ahead a little and ask yourself, as your business expands, how much kit will you need to store and where will this actually be put?

3: Will I have the right level of security?
This may depend on the type of business you’re planning to run and also the type of materials you’re likely to keep on site.

What to do
Consider uplifting the level of security for your home and also, look at what else you may need to put in place in terms of your business and property insurance.

4: Will people be visiting my premises?
There are a variety of legal and insurance implications for any kind of home business, but especially those that will have people visiting their premises.

This is not just about organisations with employees; it is also about people visiting your business location, even for a brief meeting.

What to do
If you think you will have people visiting your home on a business basis (and it is quite likely that this will be the case) check with an insurance cover provider to see what you need to do.

5: How do I prefer to work?
If you’ve always gone out to work it may be a big cultural change to find yourself suddenly working at home.

From time to time you may feel isolated and you may also need to feel confident that you’ll be able to give your business all the hours it needs.

Also, will you be able to leave it all behind when you’re still at home but not working?

What to do
Think about any structures you may need to put in place to help you manage this.

It is also a good idea to test the water by booking yourself a few days in a row actually going ‘go to work’ at home before you start your business.

This will help you understand how you work and how you feel about it.

Your first steps to success
The good news is, here in the UK, home businesses are thriving and according to http://www.greatbusiness.gov.uk/home-businesses there are now almost three million UK home-based businesses.

Impetus is here to help
Do remember that here at Impetus Business Loans we help new business get started and thrive.

As well as providing start up finance we also offer supportive business financial mentoring.

To find out more about how we can help, please call the friendly Impetus team on 01386 556000.

Impetus Business Loans Your local Responsible Finance provider

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