Small Businesses Working From Bed

The self-employed based at home are taking full advantage of wireless networking and gadgets as 20% confess they spend at least an hour a day making calls, dealing with email and working from bed.

Their main daily commute is from bed to the kitchen for coffee.

Most of those admitting they work from bed are men (73%)

They are just part of the booming business sector that is defying the UK’s economic difficulties. While firms are shutting and making workers redundant, millions are turning to working for themselves.

Around 4.1 million people were registered as self-employed at the end of last year – which adds up to 14% of the workforce, according to the Office of National Statistics.

The number is continuing to grow – up 2.3% last year while the number in work dropped by 0.3%.

Many of the keenest self-employed homeworkers are over 55 – and 330,000 are over 65 year’s old.

Self-employment is satisfying and lucrative for many – but new comers to working on their own need to be aware of the pitfalls.

Two key points have to be considered:

Don’t forget to register as self-employed with HM Revenue & Customs and keep on top of accounts and tax returns
Going in to business can present risks to health and property, so the self-employed should make sure they have comprehensive small business insurance cover in place.
Simple points can be overlooked – home insurance policies do not cover computers, printers and scanners used for business.

Businesses meeting customers, suppliers or anyone else at home should have public liability cover to safeguard against claims.

Then businesses need cover for other risks, like business vehicle insurance, protection for stock and goods in transit.

Businesses offering advice need professional indemnity cover, while contractors should look at specific insurance as well, especially if they work in other people’s homes or business premises.