18 August 2014
Last Friday, during a Home Business Summit organised by Enterprise Nation, business minister Matthew Hancock announced some new measures, apparently intended to give support to home-based entrepreneurs. Whilst the current information on these measures doesn’t go into much depth as of yet, the suggestions sound, on the face of it, to be fairly positive. If we can remove unnecessary barriers for those people with the courage to bring their ideas to life, it can only be a good thing.
Apparently, 70% of UK businesses start off in the home, and as Gail and I set up UKFast from a back bedroom, I’d say we’re probably part of that percentage. What strikes me about this is how big a driver technology is for many of the entrepreneurs running businesses from home. Constant advances in IT and digital open up so many options and possibilities, and it’s amazing to see people grabbing these opportunities with both hands.
Britain is a great place to do business and the increase in home-based firms really ups the ante for companies looking to retain great people. With the knowledge that employees can not only look elsewhere for alternatives, but create alternatives of their own, we have to step it up a gear and give people the challenges and responsibilities they crave. When you empower people they become entrepreneurs within the business itself, shaping and transforming their departments so they perform better.
Starting a business isn’t for everybody, as we’re all different and motivated by different things, but if you are holding back your inner entrepreneur, now is a great time to give it a go. If you’ve already started up your own home business, how’s it going? I’d love to hear your thoughts on the government’s suggested measures.