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Started a Business in Lockdown? Time to Take it to the Next Level

Started a Business in Lockdown? Time to Take it to the Next Level

Life is starting to return to the normal we once knew, but there’s no doubt that the pandemic has massively shaped our lives over the past couple of years. There have been so many things that we all missed and lost out on, but there were actually a few glimmers of silver lining too. One of those was the gift of time. It might not have felt like it when we were in the midst of lockdown, but when we were all forced to put our lives on pause, many of us found we had time on our hands for the first time since childhood. Maybe this gave you the opportunity to bake, paint or sew. Or perhaps it gave you time to pursue that dream of starting a business that you’d been pondering for years, or inspired an idea that you were able to transform into an income while you were on furlough from your day job. That business might now be growing and becoming more and more successful, and you may wonder what your next steps are. Here are some things you might not have done so far. 

Macbook Air, Flower Bouquet and Magazines on White Table

https://www.pexels.com/photo/macbook-air-flower-bouquet-and-magazines-on-white-table-839443/

Do the paperwork

It’s important that your business is properly registered, this means you’re able to pay the correct taxes. Ensure that all of the relevant paperwork is done to comply with the tax laws in your country, the last thing you want is to get in trouble or end up with fines and penalties if things arent done correctly. From there you’ll need to complete a tax return each year, if you don’t want to tackle this yourself you can hire an accountant to take care of it all for you. 

 

Have a website designed

When you first set up your business, perhaps you were selling on platforms like eBay, Etsy, Amazon and Facebook. But as time goes on and your business starts becoming more established, it makes sense to invest in a website. Unless you have a lot of knowledge in this area, you’ll want to outsource web application development and leave it to someone who knows what they’re doing. Once your website is set up, you could consider writing a blog as a way to improve your SEO and marketing. 

 

Hire staff 

If your work has snowballed, you might have reached a stage where you’re no longer able to fulfil all orders by yourself. Depending on what you do, you could either outsource some of the work to third party companies, or you could hire your own employees. Look into the pros and cons of each and decide which is best in your particular situation. 

 

Improve your work area

Finally, having a good space to sit and work from is important, especially if you’re spending more and more hours on your business venture. If you’re working from home, at the very least set up a desk with a good quality chair- if you have the space then a home office is even better. If your business is growing fast and you need to hire staff, you might even consider moving to commercial premises. 

 

Did you start a lockdown business? What do you sell, and how is it going?