Government announces new measures to support home-based businesses
New property legislation and business rates exemption to help entrepreneurs start and grow a business from home
The government has today announced new measures to give budding entrepreneurs “greater freedom” to start and grow a business from home.
Unveiled by business minister Matthew Hancock at the inaugural Home Business Summit in London, the measures include new legislation for rental properties to make it easier for people to run a business from a rented home; with a new model tenancy agreement to be made available shortly.
There will also be updated planning guidance to clarify that planning permission is not needed to run a business from home, as well as new business rates guidance to make it clear that the majority of home-based entrepreneurs will be exempt from business rates.
The new package of support comes on the back of recent BIS statistics which suggest that around 70% of UK start-ups begin at home; contributing an estimated £300bn to the economy.
Commenting on the news, Hancock said: “There’s never been a better time to start a business, and even more people are choosing to start up from home.
“It’s this spirit of personal endeavour and self-determination that is driving our economic recovery. But home businesses don’t just fire up the economic engines and create jobs, they turn dormitory towns into living communities, they keep our streets safer, and by driving down car emissions, cleaner too.
“We know that starting up any business can also be hugely stressful and that’s why today I am announcing that the government will change the law to make life easier for Britain’s home businesses.”
The updated planning and business rates guidance will be available here.