Starting a small business can be incredibly difficult – and one thing that has made it harder in the last year for many of us is having to set it up at home.
Working at home is hard at first, and operating an entire business from the comfort of your home is a big adjustment. However today we want to tell you why it might be a good idea for you to keep your business running at home rather than going back to the office once it is safe again.
Running your business from home can actually be a brilliant thing to do because it is much cheaper than renting an office and you’ll be able to hire from a larger pool of employees when you hire remotely across the state or the country.
Here is how you can move your operations permanently to your home and be able to succeed without leaving the house.
Outsource some services
The first thing you want to consider when moving your operations to home is the idea of reducing your in house staff. Hiring and employing staff is costly, however there are outsourced virtual services that will do the job for you for a period of time much cheaper than a full time employee. Consider outsourcing a few of the departments and services in your business and only hire staff you physically need. This will reduce your running costs and it will allow you to be more profitable as well as use this money to help develop your business in many ways.
Sell your office
Some of us rent a small office space in the city centre, and some of us buy an office building for your operations. Depending which one of these categories you fall under you will either want to cancel your renting contract or sell your office. Another option for you if you have an office building is to rent this out to other companies and this will allow you to make some passive income alongside your business and will allow you to keep this asset should you ever need it again.
Set up a home office
Now is the time that you should set up a home office that is a permanent fixture in your home. In 2020 most of us will have had to create a makeshift home office for our work however with us knowing it won’t last, we won’t have put the work in to make this a beautiful, open, and productive space to work in space. To create a home office that inspires and motivates you it is a good idea to replace the carpet for a new one and repaint the walls. Consider a feature wall behind your computer screen that is a bright and optimistic colour to make you more alert and to hopefully motivate you to get working. You will then want to invest in a comfortable and supportive chair, a blanket and cushion, and a spacious desk. Make sure that your office space is the most comfortable and productive space it can be to encourage your hard work every day.
Buy a coffee machine
One of the things you will thank us for when you want to work at home permanently is a coffee machine. You will need that sweet hit of caffeine in the morning and if you are used to a trip to your local coffee shop this is the next best thing. A good coffee machine will provide you with a cafe level cup of Joe and you can even keep things such as squirty cream, syrups, and chocolate shavings in your kitchen for a treat now and again. Start the day right and it will make you so happy to be at home!
Understand tax
Tax is an important thing to understand when you are working from home because you will be eligible for tax deductions due to your house bills. When you work from home, you can claim back for the electricity, gas, and water you use in your home office during the time you work. You can calculate this by counting the rooms in your house and dividing your yearly bill by this much; and then divide the hours you work in the week and divide your bill again. In layman’s terms – you can claim back for every hour you work in your home office every week.
Get savvy with budgeting
When working from home it is a good idea for you to start getting savvy with your budgeting and really begin to understand how to utilise your money in the best way. It is so important for you to get to know your own budgets as a business owner and start to consider the ways you can save money through getting rid of subscriptions to technology or not using paper.
Use video calls
Now is the time you want to consider taking out an unlimited video call subscription so that you can keep in touch with your remote employees during the week. Video calls will swiftly become your new best friend and you’ll want to use this throughout the week to keep track of your employees as well as beat the loneliness that can come with working at home.
Hire remotely
Once you are set up fully as a home based business it is time for you to start hiring employees remotely to fill out your existing teams. Hiring remotely is a brilliant thing to do because you will be able to hire from anywhere in your country rather than being restricted to people who work within your town or city and in commuting distance. The great thing about this is that you will be able to choose from a much bigger pool of employees and you are much more likely to find the right candidate for your role and one that will provide the best service.
The move from office working to home working can be a big one however once you do you’ll start to see the many benefits of working this way and it might do you the world of good in the future.
HR Future Staff Writer, UK
