“Research undertaken by BIS and Enterprise Nation found that there are almost three million home businesses in the UK, contributing a total of £300bn to the economy each year.
“Recognising the important role that these businesses play, the Government has taken steps to reduce the red tape and make it easier for individuals to get started with running a business from home.
“The Home Business Initiative makes three key changes:
1) Planning permission will no longer be needed to run a home-based business from a spare room
2) The majority of home-based firms will also be exempt from business rates, and
3) Landlord and tenant law has been to make it easier to run a business from a rented property.
“As chartered accountants, Clayton & Brewill works with lots of successful entrepreneurs and family owned companies that started their businesses from home – indeed many of them remain as home-based businesses.
“This new initiative has to be welcomed if it will reduce the amount of red tape involved in starting and running a business from home and will hopefully encourage other would-be entrepreneurs to take the plunge.”
The Home Business Initiative was announced by the Skills Minister Matthew Hancock on 15 August.