Ok so you have decided to leave the corporate world and open you own business. Before you make any firm decision let’s take a look at the advantage of a owning home-based business.

Home-based business accounted for 427 billion dollars last year. In 2005, 150 million people worked in their own home based business and generated an average yearly income of $63,000. Nearly 20,000 people earned over 1 million dollars a year. It (home-based business) accounts for 52 percent of the small business sector and generates 10% of the total economy. With these figures it is no wonder that so many are jumping on this business model. Now let’s look at the specific advantages that you would get.

With a home-based business you have an extremely low start up costs. 44% of all new business operated from the home cost less than $5000 to start up. The Start up costs for many a home-based business is under $1000.

Generally home-based business have none or very few employees, the majority being a one person show, the owner and operator of the business. In these cases there are no Social Security, no medical, no dental, no workman’s compensation and no pension to pay

You get great Income Tax breaks with a home-based business. A portion of your Car and House expenses including mortgage payments, heating, electricity, maintenance and other expenses can be claimed as a business expense and subtracted from your income.

Since you are your own boss in a home-based business, you can control the time that you want to work and take holidays, Your traveling time is zero, from the kitchen to your home office. No longer are you spending one to four hours fighting traffic going to and returning from work.

You spend more quality time with your family and do not have to depend on the weekend to do your household chores.

Today’s technology, the Internet, email and other allows you the home-based business owner to do business across the globe 24/7. For more information go:
here

TomMurray
tommurra@gmail.com
Skype : atom111160

2. Home-basedbusiness#2tm
Home-based business opportunities

So you want to be your own boss and own your own home-based business. The first things you have to decide what are you going to sell. And yes you have to sell something in order to make money. One of the easiest home-based businesses to start up is to turn your hobby into a business.

You know years ago when I first started on the internet I remember running into a web site of a person who turned their hobby into a home-based business. I do not remember what I was searching for but suddenly I was looking at the web site of a self taught Artist who lived some where in a small village in northern British Columbia. This person had taken pictures of his paintings and put them on his website. Each were numbered, had a little description of the painting, a few words about the artist, the price and an order form attached. I was very impressed and never forgot it. Here was a person who had a hobby and turned it into a successful home-based business.

The other successful home-based business story is about my brother in law who is an amateur musician addicted to yard/garage sales and flea Markets. Every Saturday morning he would be up at the crack of dawn, eat a quick breakfast and then be off in search of the day’s garage sale in the local area. He brought everything and filled his house with good junk (his wife’s words). The next day he would be at the local flea market selling the junk that he picked up the day before. He noticed that musical instruments did not last very long on his table especially at the start of the school year. He gradually started concentrating on musical instruments. Gradually he became known as the man who always had good musical instruments for sale. He moved his business into his home, started renting and selling musical instruments to school children and started giving music classes. Then e bay arrived and he started selling musical instruments there. His home-based business is took off. He will never become a millionaire but is earning a nice second income from his hobby that he turned into a home-based business.

So before you go out and spend a lot of money up front for your home-based business take a look at what skills or expertise you have that may fill a need for other people. A home-based business opportunity may be waiting there to be discovered. To see more information go:
here

Tom Murray
tommurra@gmail.com
Skype: atom111160

3. home-based business
The advantages of a Home-based Business

Ok so you have decided to leave the corporate world and open you own Home-based business. Before you make any firm decision let’s take a look at the advantage of a owning Home-based business.

You have an extremely low start up costs. 44% of all new Home-based Business cost less than $5000 to start up. The Start up costs for many of these businesses are under $1000.

Generally a Home-based Business have none or very few employees, the majority being a one person show, the owner and operator of the business. In these cases there are no Social Security, no medical, no dental, no employment insurance, no workman’s compensation and no pension expenses to pay.

With a Home-based Business, you get great Income Tax breaks. A portion of your Car and House expenses including mortgage payments, heating, electricity, maintenance and other expenses can be claimed as a business expense and subtracted from your Home-based Business income.

Since you are your own boss of your Home-based Business, you can control the time that you want to work and take holidays, Your traveling time is zero, from the kitchen to your home office. No longer are you spending one to four hours fighting traffic going to and returning from work.

You spend more quality time with your family and do not have to depend on the weekend to do your household chores.

Home-based businesses accounted for 427 billion dollars last year. In 2005, 150 million people worked in their own home-based business and generated an average yearly income of $63,000. Nearly 20,000 people earned over 1 million dollars a year. It accounts for 52 percent of the small business sector and generates 10% of the total economy. With these figures it is no wonder that so many are jumping on this business model. click here for more information.

Today’s technology, the Internet, email and other allows you to extend the reach of a home-based business across the globe 24/7.

Tom Murray
tommurra@gmail.com
Skype : atom111160

4. Home-Based Business tm#1
Starting a home-based business

Starting a home-based business should not be a spur of the moment decision. Online advertising, just like commercials on radio or TV, are designed to put you into a decision making mindset. Don’t! Research your business and make sure that your first impressions are correct. You wouldn’t go out and sign on the dotted line for a McDonald’s franchise without having all of the information available. Online business is no different so do your research when you are starting a home-based business. Where do you start? Well I would start with the most important part of the business and that is you.

Get a sheet of paper and write down your interests, your hobbies, your skills and any expertise you may have, then decide is there a market for any of these. Starting a home-based business this way will give a great advantage over a lot of other people who never do any research on home based businesses. research-

Once you choose your business, develop a business plan for your home-based business showing: your business strategy, processes, expenses, sales and expected profit. Research all required licenses, permits and registrations that you will need. Check the city zoning to see if a home-based business can be operated in your area. Then take your business plan to a friendly financial institution and get any financing if the business is beyond your self financing capability. Once you get the funding in place obtain the necessary legal documents.

Ok, you have funding and are all set to go, but wait, before you register your business you have to decide the type of business you are going to register. Is it: a partnership, a sole owner, or a corporation. If it is a corporation you must decide what state or province are you incorporating. At the same time you will have to decide a name for your home-based business and conduct a name search to ensure that you are not registering a duplicate name. With the internet and a credit card this can be done very quickly. You may or may not require legal advice. If it is a simple business you may not need legal advice but if you have a complicated business or involved in a high risk business with high start upcosts you should seek legal advice in the registration process. Next return to your financial institution and set up a business bank account.

You are now set to go

Tom Murray
tommurra@gmail.com
http://homebasedbusiness.ourformulaforsuccess.com
Skype: atom111160