2020 has been a huge year for remote working. With the Covid-19 pandemic leading many more people around the world to work from home for the majority of the year, people have become increasingly interested in pursuing a career remotely rather than in an office or dedicated workplace. But what about those who are thinking of operating a business of their own from home? While many entrepreneurs may look to rent out office space to manage their venture, many people, especially those with small, start-up businesses, would rather run their business remotely. If you’re looking to start and operate a business from the comfort of your own home, take a look at these three helpful tips.
Create a Dedicated Space to Work in
Whatever the business strategy you have in mind, it’s important to create a space that allows you to work without distraction. If your business is going to be more hands-on, such as an arts and crafts related business, you’ll need a large table to work at and fit all of your equipment. Or, if your business will involve a lot of admin or use of a computer, you’ll need to set up a desk area that you can work at. You may be tempted to slump on the sofa or work from bed (when you’re feeling extra lazy!), but making sure to work at a dedicated space in your home is key to staying on track with your business goals.
If you’re not yet sure what kind of business you want to run, make sure you’re aware of certain strategies and business ventures that are well suited to remote working. Some types of business are perfect for those who want to run their venture from home. Take investing in property, for instance, which is when a person buys a property and rents it out to earn income or sells it for a larger profit, or both. When buy to let investors hire a property management company to manage their investment for them, it becomes a hands-off investment as they don’t need to deal with any tenant issues and management tasks. If you’re looking for a way to earn money, owning a property portfolio is considered a business venture, and is one of the simplest options for anyone looking to own a business from their home. Companies in the UK, like RWinvest, also offer assured rental yields on many of their properties for a set number of years, which means you’re guaranteed to earn income from the get-go.
Consider Registering Your Business Address
Certain businesses, particularly those who deal with clients, may need to register their home as a business address. This is because potential clients may not feel secure dealing with you if your business doesn’t have a professional address listed. This shouldn’t be an issue if you own your home, but if you rent, you’ll need to check with your landlord before doing so. If you’re not keen on registering your home address, consider signing up for a virtual office space. With a virtual office, you’ll pay a small monthly fee to list your address as a prime location, which can look impressive to prospective buyers or clients.