Considering current issues such as COVID, is it a good idea to set up a care business (home care and care agency) now?

Answered by Sheila Scott

Hi A

Many thanks for your question. I would say firstly that people will always need care and support and there is growing evidence of the longer-term physical impact of people recovering from COVID-19 that as a society we will need to prepare for.  As with any new business start-up it’s important to do your homework and look at what your community needs are right now and how your business will fit in, start with conversations with commissioners, insurers and anyone who may back you financially .Ensure your business plan is complete and consider the costs needed to set up your business (don’t forget things like CQC registration fee, insurance, salaries, marketing costs, software, training, renting office space, equipment, uniforms). CQC as part of your registration process will be looking at the financial viability aspect of your business, further information on what they will be looking for can be found via https://www.cqc.org.uk/news/providers/new-guidance-assessing-financial-viability-providers-applying-registration I can’t advise you if now is the right time for you, but the government want businesses to continue to thrive and are aware of the challenges of new business start-ups during COVID-19.  They do guide how to access financial support and you can refer to https://www.gov.uk/business-finance-support. Good luck