Business Name
You can operate a business under your own name or register a business name. Registration of a business name allows you to operate under that name.
Select a name for your business that describes to your customer what you do. A descriptive name promotes and advertises your business more effectively.
Licences And Permits
Depending on where your business is located, you may need licences and permits. Do the right thing and check with your local council. Doing the right things now will save you a lot of unnecessary leg work later.
Insurance
Often overlooked, insurance is an important part of your risk management plan. There are two types of insurance: general insurance for loss/damage of assets and risk insurance which is your personal insurance cover.
Ensure your business insurance is separate to your personal insurance.
To establish the type and amount of insurance you need for your home based business, check with an insurance broker.
Managing Risk
You must have a risk management strategy for your business. Your SWOT Strengths, Weakness, Opportunities, Threats analysis from article one, will show what could expose your business to loss and what actions to take to reduce that loss.