Home Based Business

Is a Home Business Right for You
If you are looking for a business that has very low start up costs, minimal overheads, low vehicle expenditure, coffee on tap and the advantage of being able to give a bit more time to home and family then a home business is a good choice.

You will save on rent, operational costs, power and phone etc (these are shared with the home) as well as your commuting costs. The total would probably be less than 1/10 of what they would normally be.

And guess what? - You would never be late for work. Even your wardrobe costs would be heavily reduced because in many cases you can simply wear the shorts that you wear around the house. Some even work in their pyjamas (not recommended in case a client arrives!).

Factors for Home Business
Working from home is not for everyone. There are many factors that need to be considered.

Some of these are:

  • Regulations.
    Make sure that you comply with any local body regulations which may forbid you to set up and operate from home.

  • Allocate proper work space.
    If you are working from home make sure you have a separate room or space set aside where you can operate from. Many people try and combine working from the lounge or part of their bedroom or family room. This is generally not recommended.

  • Work with the family.
    Before you start working from home sit down and discuss all the implications with your spouse and your children.

  • Establish proper hours.
    You would need to set up firm hours within which you would operate. Start work at 8.30 and finish at 5 with a couple of breaks in between. Make it known that these are the hours that Dad or Mum would be working.

  • Keep interruptions to a minimum.
    Try not to take personal telephone calls or meet family when they arrive during your working hours. It would be difficult at first, but once your friends and associates become aware that it was your work time and every hour was money to you then slowly the situation should right itself.

  • Make sure that you have the right machinery and office equipment.
    Most businesses today cannot operate without a computer. Advancement in technology means that computers and the internet and fax machines and scanners have all contributed to making life a lot easier when running a business whether from home or from an office.

  • Check other things such as insurance.
    You will need to talk to your insurance company or agent because your policy needs to incorporate changes to cover office equipment and workshop plant etc used in the business.

  • Business records.
    Make sure you keep adequate records.

  • Keep Professional.
    Even though you would be working from home make sure you conduct yourself as if you were working within your employers place in the city. Be professional at all times.
    Make sure you run your business as a business.