The landscape of the modern workplace continues to change. While the last century saw the rise of large employers, the 21st century is a time of diversification, marked by the growth of small and home-based businesses.
Many entrepreneurs enter the home-based business industry by accident. They see a way to make money and start small, expecting to expand when the business takes off. But when their business does become profitable, they may decide to stay small, at least in part because they like the advantages of basing their business at home.
Some of the risks involved in running a home-based business are the same as for starting any business: no fringe benefits, no job security, start up costs, initial lack of steady income, and lots of long hours and hard work. Add to these the loss of home space, isolation, likelihood of interruptions, and the need for tremendous self-discipline and you've got the disadvantages of starting a home-based business.
When you live where you work you have to deal with certain unique business concerns. On the down side, family conflicts can arise when you set up your office in the living room. You want quiet when others want music. The pens disappear and someone MUST get online now! Like in any solo business the startup costs are all yours, there is no initial financial stability, and no one shares the risks. You have no fringe benefits, no time off, no health insurance. Most of all, working at home requires a great deal of self-discipline working when family fun and household chores call to you.
On the other hand, working at home provides tremendous flexibility and the chance to participate more in family life. You can work from most anywhere. There are no coworkers to deal with and no boss to question your work. Overhead and start-up costs are minimal. You can manage your own physical environment, making your office safe and comfortable. The profit is all yours.
Whether the work is supported by computer technology or performed entirely on the computer, the world of the internet is a major force in home-based businesses. As with any busy opportunity it's important to distinguish the reputable businesses from the scams. Check with chambers of commerce and government agencies to see if the company has a good record of compliance and consumer satisfaction. Talk with current owners to see if their earnings match the company's earnings claims. Get a fully audited financial statement from the company. If you don't understand it, get help from an accountant or a lawyer. Then compare different companies to find the best deal.
If you're going to start your own business, you must have a business plan. Determine what form of legal ownership is best (sole proprietor, partnership, corporation). Are special licenses or permits required? Conduct a market analysis; does your prospective business fill a business need? To qualify for financing, you'll have to show the startup costs and income opportunities.
Eight-five percent of home-based businesses are still in business after three years. It takes a lot of work, but the opportunity is there. Do your homework and take your time and you too can work where you live. - 15465
Many entrepreneurs enter the home-based business industry by accident. They see a way to make money and start small, expecting to expand when the business takes off. But when their business does become profitable, they may decide to stay small, at least in part because they like the advantages of basing their business at home.
Some of the risks involved in running a home-based business are the same as for starting any business: no fringe benefits, no job security, start up costs, initial lack of steady income, and lots of long hours and hard work. Add to these the loss of home space, isolation, likelihood of interruptions, and the need for tremendous self-discipline and you've got the disadvantages of starting a home-based business.
When you live where you work you have to deal with certain unique business concerns. On the down side, family conflicts can arise when you set up your office in the living room. You want quiet when others want music. The pens disappear and someone MUST get online now! Like in any solo business the startup costs are all yours, there is no initial financial stability, and no one shares the risks. You have no fringe benefits, no time off, no health insurance. Most of all, working at home requires a great deal of self-discipline working when family fun and household chores call to you.
On the other hand, working at home provides tremendous flexibility and the chance to participate more in family life. You can work from most anywhere. There are no coworkers to deal with and no boss to question your work. Overhead and start-up costs are minimal. You can manage your own physical environment, making your office safe and comfortable. The profit is all yours.
Whether the work is supported by computer technology or performed entirely on the computer, the world of the internet is a major force in home-based businesses. As with any busy opportunity it's important to distinguish the reputable businesses from the scams. Check with chambers of commerce and government agencies to see if the company has a good record of compliance and consumer satisfaction. Talk with current owners to see if their earnings match the company's earnings claims. Get a fully audited financial statement from the company. If you don't understand it, get help from an accountant or a lawyer. Then compare different companies to find the best deal.
If you're going to start your own business, you must have a business plan. Determine what form of legal ownership is best (sole proprietor, partnership, corporation). Are special licenses or permits required? Conduct a market analysis; does your prospective business fill a business need? To qualify for financing, you'll have to show the startup costs and income opportunities.
Eight-five percent of home-based businesses are still in business after three years. It takes a lot of work, but the opportunity is there. Do your homework and take your time and you too can work where you live. - 15465
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