Setting a home office for a Las Vegas business
Nevada provides an extremely friendly tax climate including no business or personal income tax. This along with state based and local small business incentives has created the perfect platform to start a home based business in Las Vegas. Over the last decade due to the high-speed internet access, small businesses in a variety of industries are being established from home. There is no dearth of home based business opportunities and this includes high end work in areas like graphic design, virtual assistance, photography and video editing, selling on big e-commerce websites like Amazon and eBay, home bakery and catering services, and social-media specialists among others. The greatest advantages of a home-based business are that you can work at your schedule and you will be your own boss!
Introduction to Home Office
A home based business in Nevada is one of the best ways to start a new business while keeping the startup cost on the lower side. Commercial space or brick and mortar office spaces can be quite expensive but operating your business from home using a virtual office service with mail forwarding options will not only be cost saving but also has long-term benefits. In fact, surveys conducted by many organizations including the GEM Entrepreneurship Report have revealed that many entrepreneurs are opting for home based business opportunities. Here are some interesting statistics:
- Almost 50 percent of businesses in the U.S are home-based businesses and the total number of such businesses is 15 million
- Almost 69 percent of startups have their foundation in home based business ideas
- 72 percent of home based startups are being operated by women
- It took less than $5,000 in initial startup costs for almost 44 percent of business owners
Tips to setting up a home office for your Las Vegas business
If you are planning to start a home based business in Las Vegas, it is important to know that small businesses operating from home are as essential to the Nevada economy as medium sized enterprises and large corporations. Starting a home business is like becoming an independent employer and hence you will be responsible for ensuring all home based business requirements are fulfilled. Since, you are probably new to starting a home business, let us share some tips that will help you set up a home office for your Las Vegas business.
Identify your need
One of the key home based business requirements is identifying your business or office needs. These will depend on the type of business you are planning to set up. One of the areas that will also help identify your need or type of business is your existing skill sets and talents like creativity, out-of-the-box thinking, knowledge of digital programs etc. Let’s look at an example: If you are planning to start a home based business in Las Vegas dealing with graphic design or web design then you will require equipment such as a high end PC, high speed internet, printer, a large work table, and even original software. In such a scenario, it is always best to create a detailed list of equipment, so that you know in advance, what the initial cost of setting up your home business will be.
Choose a dedicated area
One of the considerations that you need to make when starting a home based business in Nevada is that the immediate environment should allow privacy. If your home has a spare room then it will be the best place but what if a spare room is unavailable? This means that you can fulfill home based business requirements of a dedicated work area by utilizing other options like changing a part of the living room to a work area or using the garage space. You can also install partition walls or vertical dividers to make your work space separate from living space especially if you will be meeting up with prospective clients.
Choose a business structure and register your home business
It is never easy to transform your home based business ideas into a fully operating business but it is possible once you identify a business structure and register the entity. In the state of Nevada, there are several forms of businesses to choose from right from sole proprietorship to Limited Liability Company, Corporation, and General Partnership among others. Whatever structure you plan to operate with, you can start a home based business in Las Vegas by registering it with the Nevada SOS. IncParadise can assist you with the entire process of registration as we have experience in helping more than 10,000 businesses in fulfilling their state requirements and getting started. You can benefit from that fact that we are expert incorporation specialists who also provide new business formation information and guidance.
Register your home based business in Nevada!
Set up a business mail address
If you are launching a home based business in Nevada then like any other business, you will need to set up a business mail address. One of the best ways to get a business mail address without actually compromising privacy is by opting for a top tier mail forwarding service in Nevada like the one offered by IncParadise. One of the salient aspects of a good mail forwarding service is that it will provide you with a street address where you can receive all your important mails.
A mail forwarding service caters to a variety of needs of small enterprises as well as a home based business in Nevada. When you bring your home based business ideas to life by forming a business entity, you will receive business mail pertaining to market information, client documents, business documents, bank statements, and much more. If you opt for your home address then you will have to painstakingly sort junk mails from relevant mail and that can be time consuming. On the contrary, when you opt for virtual mailbox and mail forwarding services offered by IncParadise, you get to have a secure account for receiving mails. IncParadise also offers additional mail forwarding services like mail sorting and mail scanning services.
Looking for a dedicated mail forwarding service in Nevada?
Obtain the necessary business licenses or permits
This is the technological age where easy access to the internet has made businesses global. This has also made available many opportunities for entrepreneurs to start home based businesses in Las Vegas. Businesses from home are actually becoming quite the trend because more often than not, such a business is also considered as the stepping stone for future bigger enterprises. One of the home based business requirements that you need to fulfill to make the business operational is filing for the required business license.
When you start a home based business in Las Vegas, you will need to first apply for a state business license with the office of the Nevada Secretary of State. The state business license has to be renewed annually. You may also require a home occupation permit governed by the Las Vegas, NV Unified Development Ordinance LVMC 19.16.180. The purpose of this ordinance is to ensure you are conforming to the Operational Standards and other home occupation licensing requirements. Depending on the type of business you are planning to set up, you may require single or multiple licenses. One of the best ways to identify your licensing requirements is through our Business License Check services.
Get a business phone number
If you are planning to start a home based business in Las Vegas then it is best to have a business phone number that will be separate from your personal number. This is especially good for businesses that deal with a lot of clients, vendors, associates etc. There are quite a few advantages and they are:
- You will be able to keep your personal cell or phone number private
- You will be able to increase home based business opportunities using your business number as it will be there on all promotional materials including business card
- A dedicated business phone number means you will be taking calls only during business hours
- The business phone number will have its own voicemail so that you can call back
- You can set custom messages on voicemail making it sound professional like “Thank you for calling XYZ. Please leave your name, number, and query so that we can get back to you.
- With a separate business phone number, there will be more consistency in business listings
Open a business bank account
One of the important home based business requirements is maintaining a business account. The business account is separate from your personal banking account and hence will be easier to maintain as it will have separate accounting records. You can start your account in the same bank as the personal savings account or you can find information on the top banks offering business accounts. A business bank account creates certain benefits to a home based business in Nevada. Some of the top benefits are:
- Your business accounting records will be well organized using a business checking account
- When you separate your business transactions from any personal transactions then it helps in monitoring the profitability of your business
- A separate business bank account helps you to file taxes accurately
- It helps in increasing home based business opportunities by ensuring you are able to accept credit cards using the business checking account
- You can even set up a business credit acceptance system or a merchant account using this type of banking account
- If your home based business in Nevada is a partnership venture then a business account will provide the flexibility of multiple signers to access the account
Set office hours
One of the finer aspects of a home based business in Nevada is that you will be able to benefit from flexibility of working hours. This said, depending on the type of business, maximum performance and efficiency can be achieved only if you adhere to a fixed schedule. There are several home based business opportunities available but you will be able to focus on getting new clients and delivering work or projects if you fix office hours. The office hours don’t have to be necessarily the standard 9am – 5pm but whatever you feel fit. It is also important to remember that your clients will call you up within the office hours and at the same time, you need to ensure the work time doesn’t have too many distractions. The bottom line is that you need to strike a balance so that the business benefits from it.
How can IncParadise help you?
A home-based business is the new trend as more and more entrepreneurs find that it is a cost effective option for a startup. You can also start a home based business in Las Vegas today and we at IncParadise can help with any process related to new business formation. We understand that home based business requirements are different from most standard businesses and at the same time there is a lot of similarity in the form of annual licensing requirements.
The shift of work space from a brick and mortar office to a home based business in Nevada has created the need for a virtual office. At IncParadise, we believe that a virtual office should focus on specific requirements of modern day startups and entrepreneurs. We created our virtual address and mail forwarding services in Las Vegas, Nevada focusing purely on home based business requirements. Our mail forwarding and virtual office program has many benefits including an actual street business address to receive your mail. You can even use this address on your promotional material and business documents.