Working from home
Thursday, 04 September 2014
Financing Small Businesses
When you are starting out in your own small business, securing finance is an important first step. You will also need to secure finance in order to help your business evolve and grow.
Ways in which to finance your small business
When you are starting out in your own small business, securing finance is an important first step. You will also need to secure finance in order to help your business evolve and grow. Making access to finance easier for small and medium sized businesses is something that the government has committed itself to improving. They claim to have increased the number of government guaranteed loans from banks to small businesses, and hope to encourage banks to make a billion and a half pounds available to established enterprises. However you are financing your business, it is important that you secure it with home business insurance.
Enterprise Finance Guarantee Scheme
The government also plans to extend the existing Enterprise Finance Guarantee scheme for a further four years. This would open up around six hundred million pounds worth of lending to around six thousand small or medium sized enterprises that do not have sufficient collateral or track-record to secure funding elsewhere in the present year alone. They also plan to continue the Enterprise Capital Fund programme, for small to medium sized enterprises that have the highest potential for growth, and review how tax systems can be used to support new business. When you are running a business from your home, you need to have work from home insurance.
Another area the government has identified as an opportunity for small and medium sized businesses is procurement spending in the public sector, stating that the totals from 2009/10 came to over two hundred and thirty six billion pounds. In pursuit of making this spending more accessible to small and medium sized businesses, the government hopes to improve the information available, reduce the bureaucratic red-tape and challenging the assumption that big business is better for supplying needs. In support of this, the government also plans to award a quarter of its contracts to small and medium sized businesses. No matter which clients needs you serve, if you work from home then you will need working from home insurance.
Getting your business started
It can be difficult to get a business off the ground when you are just starting out, so you will be happy to hear that the government is also intending to make the process easier. To do this, the government has committed itself to helping encourage would be entrepreneurs and hopes to reduce the stigma associated with being on Jobseeker's allowance or living in social housing. Opening your own business shouldn't be an option that's only open to people who can afford to pave the way themselves, and it is hoped that with easier access to funding and training, anyone can make the leap to being their own boss. If you are starting up a business from home, it is vital that you take out sufficient work from home insurance.
When you are running a business from your home, you will need to check that your business will not invalidate your home insurance policy. With many standard insurers this might turn out to be the case, but this isn't the case with HomeProtect. With HomeProtect you can get a competitive online quote for home business insurance, no matter what type of business you are running. Working from home insurance is not a substitute for any specialist business insurances your work might require though, so it is essential that you check to see what other liability you might have to cover when you start out.