A New Season – A New Business

As we enter Spring, it is the perfect time to think about setting up a new business. Working from home became a trend during lockdown, and now many potential businesses are being set up in living rooms everywhere. Home office is the new office, and the range of businesses covers everything from Etsy shops and internet retail, to auditing, accounts, design, literally anything.

There are so many positives about working from home and being your own boss, not least when it comes to childcare, but there are also things that you must consider in order to make your business safe, viable and profitable. For a newbie entrepreneur, this could be a minefield, so here are just a few things to take a look at.

Business Insurance

Any business needs business insurance, whether this be public liability for someone who is now sub contracted, or business insurance that covers your company in the event of anything going wrong. This could be damage to your premises or equipment, legal fees if needed, and compensation in the event of legal action.

You can find lots of advice on the right kind of business insurance online, it can be tailored to your individual business needs.

Using A Freight Audit Company

If you are dealing in ‘stock’ of any kind, and if you either transport this across the country, for sale or delivery, or you import it from abroad, then enlisting the skills of a Freight Audit & Validation Company could help your business save considerable amounts of money.  You may find it hard to keep up with your incomings and outgoings when it comes to freight and shipping, but allowing an audit company to do this could help the detection, recovery and claims management of  any billing errors and overcharges you may have incurred.

Find an Accountant

Doing your own books and submitting them to the tax office can become a large and tedious job, particularly as your business starts to expand. If this job is overwhelming then you need to find a good accountant who can not only do your accounts, but will help you organise what you can and can’t claim for in order to make your business viable and cost effective. You may be surprised at just what can be classed as an expense, particularly if your home is your office too.

Make Use of the Internet

Even the smallest of businesses need to have an online presence to tap into new and unknown markets. This can be in the form of a basic or more advanced website, a Facebook page or a Twitter or Instagram account. Twitter, Facebook and Instagram are great forms of free advertising, reaching thousands of people every day, so it you are not up to date with social media, it is well worth brushing up your knowledge in order to get your new business ‘out there.’ For Twitter in particular, you can reach your audience by setting up Email alerts for Twitter, these can help you to tie in to topics that are trending, to look out for keywords, or tweets from key brands you want to contect with, and help you get in on a story or trend from the very beginning. Cooler, more edgy businesses may well use Tik Tok and Instagram reels as a way of meeting a younger target demographic.

Sharing is caring!