Home Business is a great idea for someone who no matter how much they are earning, it always seems like it is not enough. “I don’t earn enough.” Is the complaint of almost everyone. However, the remedy is in your hands. Get busy making money or get busy complaining.
If you are one of those people who wish to earn more but are not able to get the hike at job why not consider adding a few hours daily work at doing something you can at home. Yes, start a small business at home. Making more money is just into the effort that you put in. Starting a home business will not only help you supplement your regular income but it can also help you to become financially free.
What is a home business?
Technically speaking a home business is any business where the primary office is situated at the owner’s home. Examples of home business are providing any services like preparing food for others, repairing PC/Laptop/Mobiles etc or selling stuff online YouTube, Blogging, Vlogging, Twitch anything counts as long as you can make money from it..
The best thing about home business is you can operate from the comfort of your home. Now everyone says, life is outside your comfort zone. Not necessarily true, you can always turn your comfort zone into niche based exceptional work zone.
I have a Facebook friend who lives in Brazil. She has a day job and at night she makes handmade cards, gifts etc and sells them to friends and family. Slowly but steadily her home business is expanding with new orders. You can take a weekend job (if you have weekend free). However, this is a technologically advanced world and you can do a lot many odd jobs online too. Example; Fiverr, UpWork, Guru etc.
How to get started with your home business?
In India starting a business at home is easy as eating a chocolate. You can start a sole proprietorship business. Most of the times you do not even require to register your business unless you want to open a bank account in the name of your business and file tax returns. If you want to start a business that needs registration by all means please register your business.
India is huge on home business. If you look around you, you will find hundreds of them. Most common are Tiffin services, Home Libraries, Cafes etc. A lot of youth has already started with YouTube & Blogging. You can too.
If you want to buy vehicles, shop or start trading under your business’s name you will need registration and legal authentication.
What kind of Paperwork Home Business brings?
If you are starting your YouTube Channel or Blog you do not need any kind of registration. Although, you will need to buy your blog at a self hosted server. If you are starting a business related to food at home you will need to get it registered at your local council as well as take FOOD & Health Department permission. For small shops you can start without registration and opt for registration once your business takes off.
Most of the time first step is registration of the business. Second step is to take the business further.
Tax walks hand in hand with money. Sometimes it feels like a skinny dip in cold water. So, this is one step you will have to study as per your business demand. As your business expands you might need more employee which will bring you under larger taxation, so best option is to register the business and start paying yourself and employees separate while your business earning are in the name of your business, so is tax.
Do a good amount of research on taxation and how you can save the most before you plunge deeper into the home business.
All the best for your next home business.
Although, in the race for money don’t forget the important things or should I say People. Make all the money in the world but know where to draw line. Enjoy making money.
PS. If you really start a business do get back to me on here, I would really love to chat.
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