On Friday I attended Enterprise Nation’s first Home Business Summit, where I discovered home based businesses contribute £300bn to the annual UK economy.
£1 in every £11 of turnover is created by a home business and there are 2.9 million home based businesses in the UK.
See more in Enterprise Nation’s Home Business Infographic here.
The conference coincided with the announcement of new policies from the Government, who are aiming to make home working easier, and more widely accepted across the country.
The surprise guest of the morning was Prime Minister David Cameron, whose attendance had not been announced, and who appeared (and disappeared!) like a whirlwind. He gave a very positive address to the audience, reiterating the Government’s commitment to home businesses.
David Cameron said: “70% of new businesses are home businesses and this is where a lot of the jobs and the growth are going to come from in our country – so the scale is immense if we can help businesses and startups get going.”
The new Government policies include:
- Making it easier for people to run a business from a rented home. The law will be changed so that landlords can be assured that agreeing to this will not undermine their residential tenancy agreement. A new model tenancy agreement will also be made available shortly.
- Updated planning guidance makes it clear that planning permission should not normally be needed to run a business from your home.
- New business rates guidance clarifies that in the majority of circumstances home based businesses will not attract business rates.
- New legislation to make it easier to hire an apprentice to help your home business.
As a home business based in London, it’s really encouraging to hear the Government taking home business seriously, and helping us make it easier to run things. David Cameron certainly wants us to be a nation of entrepreneurs and he said he wants us to celebrate people who start their own businesses, so it’s good that he is practicing what he is preaching.