We’ve all been there, haven’t we? Taking an important phone call at home as chaos is unfolding around you. Trying to act professional and on top of your game whilst frantically looking for a quiet corner of the house. Multiply this by 10 and you’re close to the stress of running a business from home, particularly if children and pets often keep you company.
As well as the challenges that being based at home can bring, there are advantages too. No long commute in the mornings, saving time and money. The flexibility to work around your family commitments. And the ability to get things done without the distractions that colleagues can often cause.
So how do you get the balance between work and family life right? It can be tough at first, especially if you’re used to working in an office or on a site which is very separate from your home life. The key to making it work is to set rules – and stick to them.
When your desk or workshop are nearby 24/7, it’s easy to work long hours without realising it. Answering the odd email in the evening while you’re waiting for the kids’ bath to run, or making a call while tea is cooking, can all add up.
Similarly, the urge to get distracted by household chores when you should be working is also difficult to resist at times. The key is to set a schedule on a weekly basis. Allocate time for work and time for home life activities and be realistic with how long you need for each task.
Be possessive over your time. Once your weekly schedule is finished, share it with your nearest and dearest. Make sure they know when to respect the fact that you’re working so they can avoid disturbing you. Be as sacred about quality time with the family. Don’t get drawn in to work activity if you’ve planned play time, a date night or a catch up with friends.
Having the right level insurance in place to protect your business can make working from home less stressful. Your standard home insurance policy may not cover any specialist or computing equipment that you use to run your business.
A working from home insurance package includes extended contents insurance to protect business-related items, as well as core insurance for your business such as public liability.
Public liability insurance covers you for compensation and legal fees if a member of the public sues you for injury or damage to their property.
You can also add professional indemnity to your package If you provide a service and give advice to customers.
And, if you’re an employer, then employers’ liability is a legal requirement for most businesses.
Also keep in mind, that your car is likely to be insured for social, domestic and pleasure purposes only. If you or any employees are going to use your vehicle for business activities, then you should inform your car insurer.
If you’re not sure what you need or want advice on the levels of cover for your business, call to speak to specialist insurance advisers.
Lines available from 8am to 6pm Monday to Friday
To offer this insurance service, we work with Arthur J. Gallagher Insurance Brokers Limited, one of the UK’s largest insurance brokers. Arthur J. Gallagher can provide you with impartial, expert advice and will search a panel of insurance providers for quotes tailored to your business’ insurance needs.
Insurance covers are subject to the individual terms, conditions and exclusions of the insurer providing them. Always review the policy documentation supplied during the quote process to ensure you have the cover you need.
Calls may be monitored or recorded in case we need to check we have carried out your instructions correctly and to help improve our quality of service.
Lloyds Bank plc Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 2065. Telephone: 020 7626 1500.
Lloyds Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under Registration Number 119278.
Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS). Please note that due to FSCS and FOS eligibility criteria not all business customers will be covered.