First things first
Getting prepared
Getting the formalities ready
Guides & checklists
Here are some things to consider as you decide on whether or not to start a business.
Log on to our Learning Zone and sign up to our FREE Build your Business course. On the course you will:
Hobby businesses are often run from home and are usually based on semi-recreational activities near and dear to the owner, thus earning them the nickname “hobby businesses”.
There are as many types of hobby businesses as there are hobbies but they are often a labour of love rather than a reliable source of income which is most often the case when the business owner has other means of financial support — such as a regular job or a working spouse — that effectively underwrites the microbusiness.
If you are working 8 hours or more per week on your hobby business then you will require a business license. Information about getting a business licence and the other things to consider are here in running a business from home in Jersey.
You need to make sure you can survive financially as you establish your business, so answer these questions:
The only way you can know if your business idea is going to work is by undertaking market research. This could involve researching information on the industry, undertaking competitor analysis and surveying potential customers. Determine the strengths, weaknesses, opportunities and threats (SWOT analysis) of your business idea.
Analyse your market research with an open and unbiased mind. If your research shows that a proposed business venture has a high probability of failure it would be unwise for you to proceed.
Read more on Do you know that your business idea is viable?
To set up a business in Jersey you need to have the right residential qualifications. Your residential and employment status determines where you can work and live and there are 4 categories. Use the link below to check you have the qualifications you need to start a business in Jersey.
Residential and employment status
If you are not living in Jersey you will need to set up your business as a Non-Resident. Use the link below to understand how you can do this.
SUCCESS STORIES
With her goal firmly in her sights Jersey Business were able to help Rachel with her business and financial plans.
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