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7 Tips for Home Business Start-up Success

1) Prepare a realistic business plan.

Think of this as your business road map. Define exactly where you want to get to with your business and then you can effectively map out your path towards achieving your goals!

By creating a detailed business plan you should cover all options and eventualities and have a clear future vision that will guide you through the rest of the start-up processes.

2) Your business plan should encompass the financial considerations of starting your small or home based business:-

Do you have the capital required?

Do you need to raise additional funds?

Who are you going to approach for finance?

Who do you trust for advice?

And don't forget to open a business bank account?

3) Consider the legal implications of becoming a business owner and proprietor.

Are you better off as a sole trader, a limited company or are you considering a partnership?

Make sure you consider all the angles and protect yourself and your assets personally from the outset.

Anything you bring to the business has to be itemised, valued?even if you're a sole trader.

And make sure you are professionally covered with the appropriate business indemnity insurances.

4) Get your family and friends behind you from the get-go.

Make sure your family and friends are fully understanding and supportive of your ideas to venture into small business start-up.

Do they understand the level of commitment you will have to show for on-going and long term success?

Their belief in you and continued support of you will work wonders towards your on-going success, so don't forget to look out for them too.

5) Protect your family, protect your business.

If, God forbid, something were to happen to your health, how would your business survive, how would your family cope?

Consider insurances - from health, critical illness and income protection insurance to life insurance ? and consider your pension and long term financial security.

6) Face those 'taxing' questions from the start.

Your small or home based business has to consider its taxation situation.

Do you need to register your business for sales tax purposes; have you informed your tax office of your business's inauguration?

Do you have a good tax professional lined up to guide and assist you?

The bottom line when it comes to taxation is that from the outset you need to make sure your papers and books are in order, this will save you time, money and heart ache in the long run.

7) Prepare realistic and achievable goals and targets for your first year.

Do not expect to conquer the world with your first year's business returns.

Starting a business is a life changing undertaking and one you must be patient with. The rewards are there, but make sure you set yourself achievable targets ? when you reach them they will give you the confidence and satisfaction to set new goals and to continue building your business' success.

Rhiannon Williamson is a publisher with specialist knowledge covering literally every single aspect of moving & living abroad.

From setting up your own business abroad, offshore investment and offshore banking to international living and buying property abroad.

Check out her site Shelter Offshore to find out how you can escape from the rat race, relocate overseas, and profit from your move!

In The News:

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Wed, 19 Sep 2018 03:55:00 +0100
North Korea dictator Kim Jong Un has vowed to permanently dismantle a missile test site and a launch pad after talks with South Korea.

Merkel removes spy chief to quell racism row
Tue, 18 Sep 2018 21:16:00 +0100
Germany's leader Angela Merkel has removed her spy chief to end a row over immigration which threatened to destroy her fragile coalition.

Brett Kavanaugh accuser 'faces death threats'
Mon, 17 Sep 2018 18:04:00 +0100
A woman who accused US Supreme Court nominee Brett Kavanaugh of sexual assault says she has faced death threats and has called on the FBI to investigate her allegations.

Russia blames Israel after Syria shoots down plane
Tue, 18 Sep 2018 06:27:00 +0100
Russia has blamed Israel and threatened retaliation after one of its military planes was shot down by Syrian missiles in a "friendly-fire" incident.

China retaliates in Trump trade war escalation
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China has announced a series of retaliatory tariffs on $60bn (£45.6bn) of US imports after Donald Trump raised the stakes in his trade war with Beijing.



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