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Keeping costs down<\/strong><\/h3>\n<\/li>\n<\/ul>\n
Depending on your business idea, for many online businesses, you should be able to get the wheels in motion from a home office, or simply a corner of your bedroom. That means your home will be a low-cost alternative to a traditional office workspace and you\u2019ll save on the rental fees of letting an office space or workshop as you focus on getting things started.<\/p>\n
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Work-life balance<\/strong><\/h3>\n<\/li>\n<\/ul>\n
Not only will you save on travel costs and office rent, but you\u2019ll also achieve better work-life harmony.<\/a> <\/strong>The independence that comes with running your own business will allow you to spend time working on something that you truly love and care about as well as spending more time with family members and friends.<\/p>\n
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Autonomy and flexibility<\/strong><\/h3>\n<\/li>\n<\/ul>\n
Setting up your own venture from the comfort of your home gives you the ultimate freedom to manage your own success, your schedule, and your income. Being your own boss means you make the decisions on where and when you work best, who you work with, how fast your business grows, and how much time you allow for leisure and balance.<\/p>\n
How to start a business at home: A step-by-step guide<\/b><\/h2>\n
1. Come up with your business idea<\/h3>\n
Number one on the list is to establish your business idea. While many businesses will evolve and diversify to offer different products or services, it\u2019s best to keep plans small and simple at the beginning. It\u2019s important to choose a business idea that fits your strengths. Maybe you want to use your current skills in your job role to go freelance, perhaps you\u2019ve always dreamed of starting your own venture selling baked goods, perhaps you have a talent for knitting and want to set up an Etsy shop or online store, whatever it is, make sure it fits with your talents and your passions.<\/p>\n
2. Decide what you\u2019re going to sell<\/h3>\n
Remember, businesses aren\u2019t always centred around a tangible product. You might want to sell felt hats, reflexology massage therapies, or, quite simply, you could sell your expertise and your time, depending on your business idea. We\u2019re talking about product vs service businesses. Whatever the \u2018product\u2019, make sure it\u2019s something people will pay money for, and ideally, do some research to identify a niche or an audience that would be willing to part with their hard-earned money for that product.<\/p>\n
3. Write a business plan<\/h3>\n
Once you\u2019ve settled on your best home business idea, building a business plan is crucial if you want your business to be viable and have longevity. Inevitably, your venture will evolve naturally as it grows, so you\u2019ll need to update your business plan regularly, but it\u2019s crucial to have a benchmark plan when you\u2019re just starting out, if for no other reason than to keep you focused.<\/p>\n
For many, new business ventures require investors. That will mean you\u2019ll need to lay out your plans in black and white<\/a>,<\/strong> and provide reliable statistics, competitor research, market research, audience profiles, planned milestones and viable evidence that your business has scope for significant growth.<\/p>\n
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- Decide on your business\u2019s legal structure<\/strong><\/li>\n<\/ul>\n
There are a number of ways we refer to those who work for themselves. You might be planning to become a business of one as a freelancer, a gig worker, a side hustler, a one-man consulting business or you might choose to be an entrepreneur or business owner. Either way, you\u2019ll need to set your business up in one of two ways:<\/p>\n
1. As a sole trader<\/h4>\n
Sole traders can run their business as an individual, meaning you\u2019ll be considered self-employed by HMRC. As a sole proprietor, you and your business are one and the same. This also means you can keep all of your business profits once you\u2019ve paid your taxes.<\/p>\n
2. As a limited company<\/h4>\n
If you want you and your company to be separate entities, even if it\u2019s still a business of one, you can form a limited company by registering as such with HMRC. This will allow you to keep your business finances separate from your personal affairs.<\/p>\n
Naturally, there are advantages and disadvantages to both options, so it\u2019s worth taking a look at the differences between a sole trader structure and a limited company<\/a>.<\/strong><\/p>\n
4. Set up a business bank account<\/h3>\n
If you have registered as a limited company, you\u2019ll need to set up a bank account that is separate from your personal finances. If you\u2019re registering as a sole trader, it can be tempting to just use your personal bank account, as you and your business are not separate entities. However, it\u2019s good practice to keep your business money and your personal bank account separate, otherwise things could get a little complicated further down the line. Having your business finances separate from your personal affairs means you\u2019ll be able to get better clarity over your cash flow, profits after tax, and general financial health.<\/p>\n
5. Determine if your business idea works well from home<\/strong><\/p>\n
Ask yourself whether your business idea will work well from home. Some businesses simply aren\u2019t suited to be based from home. If you want to run a dog boarding centre but live in an apartment without a backyard, you might want to consider a dog walking business instead.<\/p>\n
6. Look into insurance<\/strong><\/p>\n
Whether you\u2019re setting up as a one-man-band or freelance consultant, or you\u2019re launching your own new venture with a small team, you will need to research the types of insurance you might need<\/a>.<\/strong> For example, if you\u2019re a freelancer, you may need to look into professional indemnity insurance, whereas if you\u2019re setting up a startup with a large outlay on expensive equipment, you\u2019ll want to safeguard all of your new kit. Make sure you shop around for the right insurance to cover you and the unique needs of your business.<\/p>\n
7. Set up a home office<\/strong><\/p>\n
If you know you\u2019ll be working from home, it\u2019s a good idea to get yourself set up with a home office. Whether you have a spare room, a quiet corner of your living room, or even a closet (you may need to get creative with space economy<\/strong><\/a>!) it\u2019s important to make your home office feel like somewhere you want to be, with room enough for a comfortable workstation.<\/p>\n
In addition to the physical space, you\u2019ll need to consider the strength of your broadband and whether it will be sufficient for business use. Remember, home broadband networks could fall short if you need fast upload and download speeds, or if you anticipate having regular video calls. Check out RingCentral\u2019s guidance on preparing your home office network<\/a>.<\/strong><\/p>\n
8. Work with an accountant<\/strong><\/h3>\n
Unless you know what you\u2019re doing, or you can dedicate the time to learn, taxes can be a bit of a minefield when you first set up your new company or your business of one. That\u2019s why many seek the help of an accountant. Unless you know your stuff about the UK tax system, it\u2019s worth working with a book keeping software such as Xero, Quickbooks, Sage or FreeAgent, as well as hiring yourself an accountant. It\u2019s best to look out for an accountant with the right qualifications, namely, a fully qualified Chartered Accountant so that you can rest in the knowledge that your tax affairs are all above board.<\/p>\n
9. Check on any legal requirements<\/strong><\/h3>\n
When you first start up your company, the number one legal requirement is to register the business with HMRC. Whether you\u2019re a one-man-band or a startup, that one is non-negotiable. It\u2019s also worth getting your business insured<\/a>,<\/strong> to make sure you\u2019re protected when and if things go awry.<\/p>\n
If you\u2019re hoping to hire people in the future, you\u2019ll need to make sure you know the legalities and do some research on employment law and make sure you can comply. You\u2019ll also need to familiarise yourself with any other licensing requirements, permits or professional accreditations you might need to adhere to, depending on the discipline.<\/a><\/strong><\/p>\n
Media and marketing<\/strong><\/h2>\n
1. Blogging<\/strong><\/h3>\n
If you\u2019re passionate about something and good with words, then blogging could be your big break! You can either set up your own website from scratch or use a website builder to get the hard work done for you \u2013 the key is to figure out your niche.<\/span><\/p>\n
It\u2019s unlikely you\u2019ll become an overnight success with blogging, but if you implement the right tools and search engine optimisation (SEO) tactics, you could start making a profitable income. Some of the most profitable bloggers in the industry make up to<\/span> $50k<\/a><\/strong> a year \u2013 a neat number for doing something you love!<\/span><\/p>\n
2. Freelance writer<\/strong><\/h3>\n
![\"payscale-average-freelance-writer-pay-hourly-658\"](\"\/gb\/en\/blog\/wp-content\/uploads\/2021\/04\/payscale-average-freelance-writer-pay-hourly-640x330.png\")
Image source<\/a><\/figcaption><\/figure>\n Whether you do it part-time or full-time, being a freelance writer provides you with the luxury of<\/span> flexible work arrangements.<\/a><\/strong> You can either work with a recruitment agency to land gigs or scope them yourself on job sites like Upwork and Copify. It\u2019s key you figure out who your niche is and whether you\u2019ll be writing B2B marketing copy or content marketing copy. If you go the individual route, it\u2019s key to build a brand around yourself and make your profile stand out against other copywriting freelancers. Building connections and a great portfolio is the cornerstone to any great writing career.<\/span><\/p>\n
We\u2019ve all seen the \u2018struggling writer\u2019 on TV who sits in a coffee shop all day, but don\u2019t be fooled! Copy and content writing are always in high demand, and as you gather experience, you\u2019ll start to build a trusted client base.<\/span><\/p>\n
3. Podcasting<\/strong><\/h3>\n
If you already own a business or blog, then creating a podcast is an easy way of getting more traction to your site. Though you can do podcasting as a standalone gig, you\u2019ll be more profitable and successful if you gear it up with something you already do. If your voice is already out there, then podcasting can really give you an edge over competitors in your niche.<\/span><\/p>\n
4. Social media influencer<\/strong><\/h3>\n
If you already have a large following across your social media channels, then it\u2019s time to start making the most of it! Instagram and TikTok are two of the most popular platforms for up-and-coming influencers; people who promote products or a brand on their social media.<\/span><\/p>\n
Influencers often make the most money through affiliate marketing<\/strong><\/a> so try connecting with brands that fit your niche well and collaborate with them.<\/span><\/p>\n
5. YouTuber<\/strong><\/h3>\n
![\"top-online-video-platform-in-US-781\"](\"\/gb\/en\/blog\/wp-content\/uploads\/2021\/04\/top-online-video-platform-in-US-640x547.jpg\")
Image source<\/a><\/figcaption><\/figure>\n YouTube is a great business opportunity to get into the right niche and have a knack for creating relevant and interesting content. Once you start racking up subscribers, you\u2019ll be able to monetise your audience and make spare cash off ads and any affiliate marketing you do on your channel.<\/span><\/p>\n
6. Photographer<\/strong><\/h3>\n
Whether you do it as part of a content marketing gig or set up your own business, being a photographer is an easy way of making money and exploring your creative side. Start by creating a website, building up your portfolio and constructing a steady client base to showcase your services.<\/span><\/p>\n
7. Digital marketing manager<\/strong><\/h3>\n
If you\u2019ve got an excellent knowledge of SEO, advertising, and B2B\/B2C, then a career in digital marketing is right up your alley! You can either freelance your services to companies and recruitment agencies or set up your own business where you work for yourself.<\/span><\/p>\n
8. Ghostwriter<\/strong><\/h3>\n
Handy if you\u2019d like to make extra cash in your spare time, ghostwriting is a good avenue to go down if you\u2019re skilled at editing, writing, and grammar. You\u2019ll also need to understand your clients’ vision and make it a reality on paper, so start by building your portfolio and gaining a few references.<\/span><\/p>\n
9. Resume writer<\/strong><\/h3>\n
![\"RingCentral-UK-Resume](\"\/gb\/en\/blog\/wp-content\/uploads\/2021\/04\/RingCentral-UK-Resume-paper-on-a-photo-file-on-a-desk-1536x1024.jpg\")
<\/p>\nAnother easy writing route to take is that resume writers can<\/span> earn up to \u00a385<\/a><\/strong> per customer if they have enough experience and reputable references.<\/span><\/p>\n
10. Freelance PPC consultant<\/strong><\/h3>\n
Similar to an SEO expert,<\/span> freelance PPC consultants<\/a><\/strong> will have a knack for marketing and optimising ads for PPC campaigns. If you already have a background in advertising, it will be easier to break into this role, but there are many online courses available to ramp up your knowledge.<\/span><\/p>\n
11. Publish an eBook<\/strong><\/h3>\n
Writing a book is no longer reserved for the literary greats \u2013 anyone with a passion for writing can now create their own novels with the rise of the Ebook. It\u2019s never been easier to get your name out there, and it\u2019s something that you can do in your favourite coffee shop or from your home! When getting your book out in the public eye, you can either hire marketers to do the hard work for you, or you can use Amazon\u2019s advertising services for a set price.<\/span><\/p>\n
12. Transcription services<\/strong><\/h3>\n
If you\u2019re a fast reader and adept at proofing, then offering transcription services is an easy way to make extra income. You can freelance your work out to clients and work on various projects, including transcribing podcasts and radio interviews.<\/span><\/p>\n
13. Proofreader<\/strong><\/h3>\n
A fairly easy market to break into, proofreaders are needed to make sure the copy is written concisely and free of any grammatical errors or misspellings. If you\u2019re always pointing out your friend\u2019s grammar mistakes, then becoming a proofreader could be a good fit.<\/span><\/p>\n
14. Bid writer<\/strong><\/h3>\n
Bid writers are in higher demand than ever before, and more and more companies are keen to take on freelancers rather than hire permanent employees. You\u2019ll need to be experienced in PQQs and tenders, but if you need to brush up on your skills, you can always take online courses.<\/span><\/p>\n
B2B services and agencies<\/strong><\/h2>\n
15. B2B agency\/startup<\/strong><\/h3>\n
![\"small-business-marketing-statistics-760\"](\"\/gb\/en\/blog\/wp-content\/uploads\/2021\/04\/small-business-marketing-statistics-640x289.png\")
Image source<\/a><\/figcaption><\/figure>\n If you have an entrepreneurial spirit and great business ideas, running a start-up or B2B agency could be in your future. This route takes a lot more patience and time than others, but if you have a solid business plan and can cover your start-up costs, then it can become a reality.\u00a0<\/span><\/p>\n
Whether you work as part of a team of small business owners or go solo, try to figure out your niche and specialise \u2013 the market is saturated with the big fish of the agency world, so specialising cuts out some of the competition.<\/span><\/p>\n
16. Virtual call centre agent<\/strong><\/h3>\n
If you\u2019d like to work remotely, then the role of a virtual call centre<\/a> agent could be your next side of the business. Perfect for students or those looking to juggle work with other commitments, call centre agents are always in high demand and can easily find work with recruitment agencies.<\/span><\/p>\n
17. SEO expert<\/strong><\/h3>\n
![\"seo-jobs-salary-growth-all-jobs-918\"](\"\/gb\/en\/blog\/wp-content\/uploads\/2021\/04\/seo-jobs-salary-growth-all-jobs-640x497.png\")
Image source<\/a><\/figcaption><\/figure>\n SEO is hot in the world of marketing and business, so if you have experience, then make the most out of it! You can start by freelancing your services or creating your own business \u2013 seasoned professionals can make up to<\/span> $81,000<\/a><\/strong> a year!<\/span><\/p>\n
18. Online bookkeeping<\/strong><\/h3>\n
If you have a knack for numbers<\/a> and accountancy, then a career as a bookkeeper could be just for you. You\u2019ll need to be experienced in finances since you\u2019ll be dealing with a company\u2019s ledgers and transactions, but online courses are available for those wanting to learn more.<\/span><\/p>\n
19. Virtual assistant<\/strong><\/h3>\n
Generally self-employed, virtual assistants help with the needs of small business owners or clients from home. You\u2019ll usually be paid on an hourly basis but have the luxury of working remotely and juggling other commitments too.<\/span><\/p>\n
20. Motivational speaker<\/strong><\/h3>\n
If you\u2019ve been through a life-changing experience or have interesting stories to tell, motivational speaking could be your next gig. Try to build a brand around yourself and market why you\u2019re beneficial to potential clients; what does your speaking bring, and how could others grow and learn from it?<\/span><\/p>\n
Personal business and services<\/strong><\/h2>\n
21. Dropshipping<\/strong><\/h3>\n
![\"RingCentral-UK-commercial](\"\/gb\/en\/blog\/wp-content\/uploads\/2021\/04\/RingCentral-UK-commercial-shipping-order-box-1536x1024.jpg\")
<\/p>\nA good business for making passive income, drop shipping involves buying products from a vendor and selling them on different online platforms (without ever handling them). Some of the most popular sites for dropshipping include Amazon, eBay, Etsy, and Shopify.\u00a0<\/span><\/p>\n
The good news is that this type of selling requires less capital and is easier to scale. You\u2019ll need to have a solid business model in place if you want to be successful, but it\u2019s worth it \u2013 top eCommerce sellers <\/span>can make up to \u00a3100k a year.<\/a><\/strong><\/p>\n
22. Online craft seller<\/strong><\/h3>\n
If your skillset is geared towards crafting homemade goods, you should consider selling your wares to make extra money. So long as you have a<\/span> product marketing strategy<\/a> <\/strong>in place and know what type of business you\u2019re running, being an online craft seller can be extremely rewarding.\u00a0<\/span><\/p>\n
Perhaps you want to sell a customised t-shirt range or Christmas decorations online \u2013 the choice is yours!<\/span><\/p>\n
23. Mobile hair and beauty<\/strong><\/h3>\n
Got an affinity with hair and makeup? If so, offering your services to the public could be a simple way of making money<\/a> <\/strong>while doing something you love! Whether you\u2019re skilled in nails or hairdressing, you can either offer mobile services or work towards running your own salon from home.<\/span><\/p>\n
24. Online bakery<\/strong><\/h3>\n
![\"bakery-small-business\"](\"\/gb\/en\/blog\/wp-content\/uploads\/2021\/04\/bakery-small-business-1536x1024.jpg\")
<\/p>\nOnline food delivery has skyrocketed during the pandemic, and it\u2019s a trend that looks set to stay. So, if you have a passion for baking, then it\u2019s time to open your own store! You can market your products on social media and even progress to holding a place on Deliveroo or Uber Eats.\u00a0<\/span><\/p>\n
The best small business always stays on top of its competition, so scope out your market and see if there\u2019s anything different you could bring to foodies in your area.<\/span><\/p>\n
25. Uber driver<\/strong><\/h3>\n
If you\u2019re looking for part-time work, then becoming an Uber driver is a great way of making easy money while handling your own hours. Whether you decide to work on behalf of a food delivery service such as Deliveroo or Uber Eats or operate as a taxi, this job offers a level of flexibility not easily found.<\/span><\/p>\n
26. Personal trainer<\/strong><\/h3>\n
![\"why-personal-trainers-start-their-careers-13176394-600-310\"](\"\/gb\/en\/blog\/wp-content\/uploads\/2021\/04\/why-personal-trainers-start-their-careers-13176394-600.png\")
Image source<\/a><\/figcaption><\/figure>\n Do you consider yourself a budding fitness fanatic? If so, becoming a personal trainer could enable you to work in an industry that\u2019s popular and ever-evolving. You\u2019ll need to gain a personal training licence, but once you\u2019ve got that in hand, there are some options available to you. You can either set up your own fitness channel on YouTube or offer your services to clients online \u2013 the choice is yours!<\/span><\/p>\n
27. Personal shopper<\/strong><\/h3>\n
If you have excellent communication skills and an eye for detail, personal shopping might be a good fit for you. Your work will revolve around advising clients on what items are the best to buy, so staying on top of the latest trends is necessary.<\/span><\/p>\n
28. Event planner<\/strong><\/h3>\n
An event planner position is ideal for anyone who loves organising parties and get-togethers. If you\u2019ve got an eye for design and an ability to turn your client\u2019s vision into a reality, event planning can be advantageous.<\/span><\/p>\n
29. Remote real estate agent<\/strong><\/h3>\n
The rise of the remote real estate agent is gaining traction. If you have excellent communication and negotiation skills, then this career path could be ideal. You\u2019re more likely to be accepted to a branch if you\u2019re degree qualified, but training is still available for those looking to build experience.<\/span><\/p>\n
Neighbourhood services<\/strong><\/h2>\n
The following services can all be promoted on social media channels, but one of the most popular ways to advertise yourself is within your local community:<\/span><\/p>\n
30. Dog walker<\/strong><\/h3>\n
![\"dog](\"\/gb\/en\/blog\/wp-content\/uploads\/2021\/04\/Dog-training-640x427.jpg\")
<\/p>\nIdeal for animal lovers and students, dog walkers, have the luxury of earning money for doing something fun! Once you become well known in your area, more and more people will start to trust you looking after their dogs, so be sure to build up a good reputation.<\/span><\/p>\n
31. Pet sitting<\/strong><\/h3>\n
Like a dog walking, pet sitting is ideal for those who love animals and is especially good for teenagers or children looking for extra pocket money.<\/span><\/p>\n
32. House sitting<\/strong><\/h3>\n
A straightforward job, house sitting pays you for simply watching over a house and making sure everything\u2019s in order!<\/span><\/p>\n
33. Laundry services<\/strong><\/h3>\n
Ever had to visit the launderette? Sometimes the prices can be ridiculously high, so offering discounted laundry services to those in your neighbourhood is likely to gain some traction.<\/span><\/p>\n
34. Cleaning services<\/strong><\/h3>\n
If you\u2019re an ace at cleaning, then why not offer your services to those in your neighbourhood? Just make sure you vet people you\u2019re offering services to, ensuring your safety and wellbeing before stepping into their homes.<\/span><\/p>\n
35. Daycare<\/strong><\/h3>\n
- Decide on your business\u2019s legal structure<\/strong><\/li>\n<\/ul>\n
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