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STARTING A BUSINESS AT HOME

There are several benefits to working from home and many people are now looking into this option when it comes to making an income. If is it possible, you will benefit from a flexible working schedule, no commute and better working hours. You can make dinner, do the laundry, clean the bathroom and pick up the kids from school in between working. You don't have to wear stuffy work clothes and battle the endless traffic each morning and you can take breaks whenever you need. However, working from home is not always possible and thus you need to be sure that you will be able to succeed before starting a business at home.

There are several businesses that can be done at home. Photography, financial services, accounting, hair dressing, massage therapy, IT support, freelance writing, graphic and web design - these are some of the many options you have when starting a business from home. Essentially you will need a working space to do the work at hand which may include an office structure or something a little different.

A massage therapist, for example, will need a reception area as well as a room that includes a table, candles and atmosphere for the clients. A home beauty salon will probably need to have several chairs, mirrors and displays of shampoo, nail polish and other products. An accountant may be able to convert an extra bedroom into a small office and work out of there.

When you are starting a business from home you may need to register the business, depending on what it is. Some businesses are not allowed to trade in residential areas, such as large workshops and sheds, especially businesses in a rental property. Before starting a business in your home, make sure you will be approved by the council and that your landlord is okay with it.

Home Business Pros and Cons

You also need to be sure that the business will be viable. There are hardly any overhead costs when you are working from home and many things can be written off in your taxes such as some of the rent and electricity you pay. You won't have to lease a building or office and this is a huge expense and, as mentioned above, you won't need to spend money on fuel driving every day.

You will still need the necessary equipment and other tools, however, and this can get expensive. Things like computers, desks, software and such will all cost money and this is all part of starting your own business. You might have the money or you might need to take out a business loan from a financial institute. You want to be sure you are bringing in more money than you are spending on the overhead costs. This is true with any business, whether you are working out of a shed or working out of your home.

There are many pluses to starting a business at home and many people find that this is the perfect solution to their time management problems. However, keep in mind that there are several cons involved in working from home. In some instances you may be isolated and miss having co workers to talk to and people to see every day. In other instances you might have trouble staying focused and motivated to work when there are home chores waiting to get done as well. If you are looking into starting a business at home make sure you have the working ethic, the capital and the clients to make it a success before you venture into this type of work.

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