Running a home business can be a lot of fun but to really enjoy it the best thing is to give the time to setting it up right in the first place so that when all the background work is in place you can go ahead a really enjoy what you set up to do.
There are some very basic requirements that should be done before getting into the day to day operation of the business after you have done your research and decided to go ahead with your dream business.
Here is the basic list that will suit most business types:
- check with the local council and see that you are not contravening any local by-laws
- talk to your accountant and register a business name – this can be your own name for tax purposes, but for trading purposes you might want to register a business name as well – organize a bookkeeper if necessary
- set up a business bank account and make sure it has a visa card to go with it – this could be a credit card or a debit visa card whichever you prefer – it is much easier and cheaper to do your accounts at the end of the year if you have separate financial records
- order your stationery and packaging
- set up an area at home where you are going to work and furnish it as suits your purpose
- make sure you have competed your business plan and a marketing plan for 12 months
- get your insurances organized
- plan a launch of your business
- buy your and products or whatever it is you need to do business and store them safely
When you have done these steps you will have your business nicely organized so that when you start promoting your business you are not having to run off down the road and fix up the necessary legal and accounting issues.
If you plan on a home based business remember that you are essentially up against businesses that are not home based and often people will not see you as professional as others. There fore it is up to you to make sure that your business is competitive with others that are perceived to be more professional.
Keep this in mind with every step you make.
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