More People Than Ever Are Turning Their Homes into Businesses – Now You Can Too

Every day companies around the world are downsizing which is leaving workers in a peculiar position. Many are given the opportunity to work from home, but is this really a good idea? If you are going to go through all the trouble to set up a home office or a home workshop, why not go into business for yourself? More people than ever are turning their homes into businesses and now you can too. Here are some things you may wish to know before making that decision. In other words, don’t quit your 9 to 5 just yet!

More People Than Ever Are Turning Their Homes into Businesses

Photo by Kotomi_

What Are the Laws Where You Live?

One of the greatest concerns when setting up a home based business are the laws where you live. For instance, in Canada, different provinces may have varying degrees of legislation which could impact whether or not your home is suitable for your given profession. For example, hair stylists need special sinks with hair traps and water temperature and pressure that is sufficient for operating a styling salon.

Then there is the fact that customers will be coming in and out daily, so maybe your neighbourhood is only zoned residential? Your first concern should be laws. If you can’t legally operate a business from your home, there’s no sense going any further.

Do You Have a Financial Plan?

Unless you have a sizeable enough ‘nest egg’ to see you through those first days until you see a profit, it might not be in your best interest to leave your job just yet. However, there may be small business loans available at very low interest rates that you could take advantage of. Sometimes government backed small business loans can be the deciding factor. Check out availability before losing all hope.

How Can You Keep Work Separate from Family?

The third very important consideration should be whether or not it is possible to keep work and family separate for that ‘professional ambiance’ that is necessary to make a go of a new business. Here, if you have space you may want to consider contracting a commercial construction company to make any necessary changes or build additions to your home. Why is it necessary to hire a commercial builder?

The answer to that is really quite simple. Home builders are well acquainted with zoning codes and building regulations for dwellings whilst commercial builders know what the government is looking for and can keep you up to code as they go along. Also, a business should have a professional appearance that a commercial builder is better equipped to help you with.

Yes, more people than ever are starting home-based businesses and turning them into profitable ventures. With a good plan and solid financial backing, you can too. Take time to research your options before choosing whether or not to stay with your current job or striking it out on your own. If you haven’t been given the option, then you have no choice. However, if your boss is asking you to work from home, make sure everything will fall into place before saying goodbye to a weekly check.