A Home Based Business

A home based business has a lot of advantages and more and more people these days are opting for starting a business based from their homes, a lot of the time on top of their day jobs in order to bring in more cash, or to finance their favourite hobby. Then a lot of people end up starting a home based business simply because of lack of employment opportunities, unemployment, redundancy - there have never been more reasons to want to start a business and work for yourself. There are many points to take into consideration but overall it would seem to be a great idea providing you are serious and are prepared to put the work in in terms of planning, researching and making it work for you.

The most obvious advantage of starting a business from home is the amount of expense involved in having business premises compared to running it from home - not all business are suitable for home based running but many small ones are. If you are intending to embark on producing something that takes up lots of space or you need a lot of space for storage then obviously you need premises but if your business can fit comfortably and integrate into your home without causing undue difficulties or safety issues for the people living there then it is certainly worth considering. For a lot of people there is nothing to consider because they are starting off on such a low budget there is no other course of action open to them, and then for others they would always prefer the comfort, security and convenience of running their business from home, after all, apart from the cost of business premises, there are the associated costs of travelling to and from work, the time element and so on.

For other people they would consider running a business from home a nightmare that they would never want to face because of all the distractions they would have to endure or the mess that it would make of their living space, so it's certainly not the best option for everybody...
With any business the key factors are self discipline, identifying a genuine market and having a competitive edge either in terms of quality, price or just having an extra something that will make your product appealing to the marketplace. Sometimes it can be very challenging to be able to provide a truly professional image to your customers when you work from home and you may need to make some structural alterations to your home in order to keep both home and work separate to a point at least. Many people prefer to separate their home business from their domestic life by basing it in a separate building like a garage conversion or purpose built add on to their house for this purpose.

There are obviously legal implications to running a business from home such as insurance, health and safety as well as making sure that you are legally permitted to run such a business from a domestic household, these points need addressing first and foremost, then you need to make sure that you are not going to cause any kind of nuisance or environmental problem for your neighbours. Having said that the economic advantages of working from home are simply too good to ignore, you can take advantage of many tax benefits such as claiming up to 80% of your heating and electricity bills, the costs associated to running your car and of course the company and you at home can share resources such as computers, internet etc and any costs incurred in modification to your home for the business will al be tax deductible as well.

There are more opportunities for home based work on the internet now than there have ever been, sure there are a lot of scams but there are hundreds of legitimate business opportunities as well like buying and selling on E bay, Amazon, Craigslist, then there are all of the agencies you can work for like Odesk, Elance, Textbroker, they are all worth looking into and can be incredibly useful as a part time earning opportunity to help you make ends meet while you are getting your business on track.