By Lanee’ Blunt
Starting a home basedbusiness can be very rewarding. You won’t have the long commute, rush hourtraffic, work in your pajamas, and take a long coffee break. Be your own bossand you won’t have to worry about being laid-off. Home businesses are becomingmore popular today as people turn their extra time into profit.
The Home Office
You probably have an idea orthe product that you want to sell. Where in your home will your office belocated? If you are going to sell products you need enough room to store theinventory. If you are selling merchandise you will need to display them whereyour customers can see them. Keep your business and your family life separatebecause your family will need their privacy.
Apply for Licenses
You must set up yourbusiness as a legal entity. Decide which form of ownership is best for yourparticular business: sole proprietorship, partnership, Limited LiabilityCompany (LLC), corporation, or S corporation. A sole proprietorship is abusiness owned by a single individual. Start a home business by operating as asole proprietorship the start up cost is low; no employees are required andbegin working right away with minimum overhead. Check zoning ordinances, buy insurance, andsee your city clerk about special licensing you may need for your particularbusiness.
SBA: Home Based Business