Government Launches New Support Package for Home-Based Businesses
Matthew Hancock announces new business rates and planning guidelines to support entrepreneurs running businesses from home
The government has announced new measures that will support home-based companies, including new business rate guidelines and planning laws.
The measures will include passing a law to make it easier to start-up in rented housing and updated planning guidance clarifying that planning permission won’t be necessary to run a business from your home.
In addition to this, new business rate guidelines will ensure that the majority of home-based firms will be exempt from rates. Business minister Matthew Hancock announced the package today, as part of the government’s long-term goal to support small and mid-sized business growth.
The measures are a response to the growing number of businesses beginning started at home (70%) and the rising economic contribution that the current 2.9 million home-based businesses are providing – a total of £300bn.
“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.
“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.”