As a small business, you have many advantages and disadvantages over a larger business. As a small business owner, you have the ability to go after smaller opportunities, be more prudent with expenses, and offer customers improved flexibility. While you may be taking advantage of the benefits of being a smaller business, you may no... Read more
|
|||||||||||
When you’re starting a business, and you don’t have substantial levels of capital, then the chances are that you’ve considered whether you should start the business from home or get yourself an office. In this article we take a look at the advantages of waiting as long as possible before taking on any mortgage or rental obligation.
Flexibility You’ll be able to fit your work around your life far easier when you don’t have to work between certain hours in the day. You’ll be able to pick the hours that suit you, and possibly have an opportunity to spend more time with your family. That’s why it’s common for work at home parents to start a small business. Savings You’ll be able to save money you would otherwise waste on office expenses and invest it straight back into the business when you work from home. You might be able to spend the money on advertising to drum up more sales; raise less capital and therefore limit equity dilution; or even spend the money on outsourcing certain jobs to service providers such as a bookkeeper or marketing professional. When you work at home, you will find that your business will be in a position where you’ve got less to lose. Preparing For Failure According to government statistics, 80% of UK businesses fail in their first two years. That’s a lot, but it doesn’t mean that yours is going to end that way. However, in the case that it does, it’s best that you have as little to lose as possible, and that’s why you’ll be in a better position if you choose to work from home. You will not have any contract period to worry about on your office, electricity and line rental bills that will keep coming in for years after your business has ceased to trade. Some of these issues can be addressed by the formation of a limited company, but it’s still best not to have these things to worry about. Less Travel Time Any time you spend travelling is time you could be spending growing your business. When you work from home you’ll be able to get up in the morning and start working right away if you choose. Likewise, you’ll only have to walk through to the kitchen when it’s time for lunch. If you can save 2 hours a day in travelling time through working at home, you’ve just made yourself, and your business, 25% more effective. Bills When you work from home you might be able to assign part or all of your broadband, heating and other bills to your business. This works great when it comes time to pay your taxes, and you’re able to offset these costs against money that your business has earned. You might also be able to complete certain purchases, like a PC that can be used by the whole family, against your business. Remember, it’s always best to consult your lawyer or accountant before making any decisions about the best way to handle your taxes.
What is Business to Business (B2B) ?
Business world is seeing new heights everyday with lot of new developments in entire world and India is having a new role in the economy of the world. The record of takeovers of industrial g... When it comes to business, some decisions can be tough. In some sectors, like IT and technology products, your prices are probably heading south over time. Entrepreneurialism is a difficult profession at the best of times, but e... As a small business owner, any ideas that you have can be put to work right away. That means they can often have a bigger impact on your business than they ever could on a larger company. In this article we cover six quick tips ... Outsourcing is rapidly increasing in popularity. Some of the largest companies in the UK use outsourcing to their advantage. Sky, for example, outsources most of their call handling and sales to an outsourced call centre. This m... If your business is struggling from the lack of liquidity in capital markets, then you might find that there’s thing you can do to ensure your balance sheet remains strong, and your business continues to grow. Through following ... For your small business website, getting a website is just the first step in being successful on the web. You also have to consider how you’ll get traffic to your website, and how you’ll get customers to buy when they visit. In ...
|
|
