Business Operation

Effectively run your business at home

Learn effective ways on how to keep your business operational at home

Jan. 7, 2022

As more people are locked down at home due to COVID19 more businesses are getting creative on how they can keep their operations running. As this global economic crisis continues, it is expected that businesses will not return to normal as soon as we want it. This situation also changed the consumer’s behavior and impacted the overall seller-buyer conventional journey. The rise of home businesses is fast moving and its future is friendly, Entrepreneurs nowadays are embracing the remote business set up where their home becomes their business headquarters and their employees are getting used to zoom meetings and online transactions. It may sound easy but it is not as convenient as what you think especially with no standard process and rules on how everything from operations to admin processes to employee management are created to follow, the first few months can be a testing ground for most business owners and due to the adjustment it may affect your bottom-line. So to help lessen the impact of the lockdown to your business we bring you everything you need to know on how you can have a pandemic friendly home-based business. 

Determine if you can bring business at home

Spare some time to check on the following to make sure your business operations at home are allowable.

  • Zoning Permits
  • Business Registration
  • Municipal licensing

Municipal licensing- Canada Municipalities issue business licenses to produce revenue and to ensure that licensees comply with zoning requirements.

Zoning Permits- You need a federal and provincial permit if your businesses affects the physical environment or that work with hazardous materials. Business may also need permits for signs and access.

Business Registration- Businesses earning less than $30,000 annually do not need to apply for GST/HST but for a business with a certain size and with employees have to register with the federal Canada Revenue Agency (CRA) for one or more of the programs:

  • The Goods and Services Tax (GST) or Harmonized Sales Tax
  • (HST)- Payroll taxes, such as Canada Pension Plan contributions
  • Corporate income tax
  • Duties for the import or export of goods
  • Registered charity work- Excise duties

We can help you register your business without a hassle so you can enjoy the business of having a registered business. You can also get a lot of advantages when you incorporate your business. Learn what incorporation can do for you

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GET STARTED

"Because the people who are crazy enough to think they can change the world are the ones who do" -Steve Jobs

Start small

Almost all business success stories start off small. Just like how big companies like Amazon and Apple begin their success stories at the garages. Make sure not to overspend in renovating your home for a business space, take advantage of the free tools you can use to make sure you will have a successful business at home. Business from home also have some tax advantages, In some cases if you can show that a part of your home is being used as a principal and regular space for your business you may qualify for an income tax reduction.

Create an effective Business Plan

Once you've chosen a home-based business write a business plan this will help you determine if you have a feasible idea. This also articulate a strategy for starting your business. Gives you an insight on steps to be taken, resources you needed for achieving your business goals and a timeline of anticipated results.The balance small business lay out a great small business

Maintain work-life balance

Tendencies of staying late to finish all the task or spending all day to run your business are high when you are doing your business at home make sure you balance your time between your personal and business life. When creating a schedule that works for you, think about the best way to achieve balance at work and in your personal life. Setting time aside from your business life allows us to recover from weekly stress, and gives us space for other thoughts and ideas to emerge. This also benefits business owners with employees as Hank Jackson, president and CEO of the Society for Human Resource Management said “it is clear that in order to remain competitive, employers must find ways to offer flexible work options if they want to attract and retain top talent”

Final words!

running a home business is a rising culture in the business industry. it does not only save you money on expenses but also on taxes. but just like any other businesses it requires hard work and creativity to make it work. home-based business can create flexibility in how you spend your time and make money and there is no one size fits all in making a strategy to grow your business at the comfort of your home but the guidelines we provided can surely help you with a hassle free set up of your home-based business.

 

Veronica Postanes

Executive Journalist

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