Starting a home business, why you do it may be less important than wanting to do it.

Your hopes are high. You’ve been thinking of starting a home business for ages.

Do you go part time or full time?

When starting a home business you should at the very beginning consider the issues.

Ten areas to think about:

1. Take a look at your character. Can you manage yourself? Are you entrepreneurial? Will you be able to keep motivated?
2. Your experience and skill set should help you determine what type of business you’ll start.
3. What are you passionate about? Turn this into a business and you’ll love the work and be more inclined to work hard at making it successful.
4. Look at the available options. There are many and you may not be aware of which form of homebased business suits you until you do the research.
5. Look at tax issues relevant to your situation and business choice.
6. Whether your business is with products or services check out the competition. How are you going to be different and attract customers?
7. Check your finances. Business takes time to build and there are always costs to begin with. Make sure you plan expenditure and income up front.
8. Set up a home office that allows you to work undisturbed and in an environment you like. Layout a working hours pattern and stick to it.
9. If you intend to offer a service from home or manufacture product, check if there are any regulations or restrictions on this.
10. Take advice from the local Tax office on how you register your venture and be clear on your tax status.

To start a home business is liberating and a very lucrative choice for many. The magic words are research and planning. If you are resourceful and ambitious and want to get a business off the ground, you will find many on-line and off-line options to look at.

Of course the play-safe choice is to keep doing what you are currently doing and to start a part-time business. I did just that and have gradually built a business over time.

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