Most people would love to have a home business. They imagine being able to work in their own time and not have to report to a boss every day. A home business does not necessarily mean that you will not have a boss though as many companies now offer their employees the option to work from home as a cost-saving method.
Moving your job from an office to your home is an ideal situation as you will not have to worry about your salary every month. The company normally also covers the cost of equipment and other consumables. This situation however cannot be classified as a traditional home business as you are still employed by another.
Administrative Home Business
If you have experience in the secretarial or personal assistant arena, you could set up a virtual assistant business. You would offer your clients all the services they would normally expect from a personal assistant, such as transcription, web research, telephone answering and making travel arrangements. This type of business is suitable if you have children who are school-going age as you will at least have the mornings when you will not be interrupted, to do all the urgent jobs.
If you have experience in the bookkeeping or accounting field, you could offer small and medium-sized businesses a bookkeeping service. The service could include writing up their books on a monthly, quarterly or annual basis. You may or may not include drafting financial statements and preparing their accounts for audit purposes.
For those who have experience in company or personal tax, you could offer this service not only to your bookkeeping clients, but also as a standalone service to individuals who need to have their personal tax returns completed.
There are many individuals and businesses alike that require qualified, experienced transcribers. Many people believe that transcription is merely typing, but that is untrue. Transcribers need to have fast typing speeds and be able to understand different accents to do their job properly.
You must bear in mind that you may often receive very bad quality recordings which may take up more of your time than normal. You should work this possibility into your costs when you issue quotations for your services.
Requirements for a Home Business
Your best option is to do a home business where you already know the market. You should opt for a business that will make use of all the years of practical experience that you have gained.
To effectively run your home business, you should have your own space where you will not be disturbed by your family. You will require equipment, such as a computer, printer, photocopier and fax. You need to have a landline for your clients to be able to contact you during business hours.
There are many other types of home business that you could start. You need to start at a point where you first make the decision as to what you are capable of doing and what you would like to do, and move forward from there.
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