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One in six operating a business from home, highlights study

Summary

A large number of people in the UK are operating an online business from the comfort of their own home, according to research from Direct Line for Business (DL4B).

Our Solution

A large number of people in the UK are operating an online business from the comfort of their own home, according to research from Direct Line for Business (DL4B). Approximately 17 per cent of those surveyed are either making their own products to sell for profit or specifically purchasing goods to resell. More specifically, 5.2 million (65 per cent) are buying items to sell on at a profit,while 2.8 million sell home-made products like greeting cards, soaps and eBooks, reports freshbusinessthinking.com. As a result, DL4B has called these firms 'home webtailers', which could suggest they are retail firms operating from homes, sheds or garden offices. Furthermore, 74 per cent of these businesses keep all of their stock at home - with an average value totalling £4,388. Furthermore, the top five per cent of private sellers generate an annual turnover of £18,094. Elsewhere in the study, arranging tax and insurance for their business only ranked sixth and eighth on a list of priorities that business owners consider key when first selling items. However, it remains important that those operating a business from home consider the fact they may need to pay tax on all turnover generated through online sales. Buying more stock, setting sales targets and devising a business plan topped the list, according to shedworking.co.uk.

Author:

Ashley Curtis

15th April 2013