For many, working from home is the best way to strike the ideal work/life balance. And it can be easier than you may think to set up and run a business from home.
Get yourself set up
It may sound obvious, but you need to spend time and money investing in your own home office. Most people will need a fast internet connection, working computer, phone reception and other office essentials. Consider organising a mail rerouting service if you’re expecting lots of mail and try to keep your email and phone accounts separate from your personal ones. Even though you might not be physically in an office, you’re still running a business, so keep things as professional as possible.
Do the paperwork
You’ll also need to register your business with the relevant government bodies, as well as take out business insurance to cover you, your equipment, stock and any prospective employees. Even if you use your personal computer or phone, you’ll need to take out business insurance as your personal equipment won’t be covered by your home contents insurance.
An organised filing system is essential in any home office, so try to set up good habits from the get-go. Even though it might be boring, try not to put all the paperwork off as it will be even more of a hassle later on down the track!
Outsource (if you need to)
If you don’t fancy filling in your own tax return, it might be worth employing an accountant, or using one of the online accountancy packages. If you’re working from home, you may be able to claim some of your household expenses such as heating and electricity against your tax bill. An accountant will be able to advise on this.
Have time for yourself
When you work in an office, it’s easy to switch off as soon as you walk out of the office. However, working from home means you don’t have your own place to escape to. Make time to get out of the house, see other people, network with industry contacts and just unwind. One of the best parts about working from home is the freedom, so make sure you make the most of it!