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Running a home-based business has its perks. Your morning commute is virtually nonexistent, fuzzy slippers are optional, and there are no extra rental costs to cover.
But as in any other business, perception is key, and if your home-based business doesn't project a polished, professional image, you could run the risk of losing customers, say experts.
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Time to get personal. A few months ago, I made the decision to start freelancing. I have gone from being a samurai employed by the shogun to being a ronin, a sword for hire. It's been fantastic but I have been on a perpendicular learning curve.
Forbes provides some good tips on how to do it in its Freelancer's Survival Guide. Good advice for anyone who wants to set up a small business.
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With the likleyhood of a global recession extremly high many small business owners fear that they may not survive. Many smart business owners however are looking at developing and implementing more effective marketing systems. The most effective marketing system for Small Business, Home Based Business and Entrepreneurs is Attraction Marketing.
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After more than a decade as a project manager in the tree-care industry, Tim Scherpenisse was suddenly out of work.
Two years later, he is an economic forecaster, strategic planner, marketing director and human-resources supervisor.
He is a small-business owner. And the transition has been challenging.
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Does $100,000 a year sound too ambitious? I hope not. Thousands of freelance writers have broken the 6-figure barrier and with some determination and a clear set of goals, it's very achievable.
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WIth the current economic recession, yes, I'll use the "R" word, too many small businesses are finding themselves moving in the wrong direction.
In many cases, what were once growing, thriving businesses are now heading into a downward spiral of cutbacks, layoffs, and, in too many cases, bankruptcies. Owners are watching as their customers dwindle and revenues drop.
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What exactly is an LLP? What's the difference between an LLC and a corporation? What about S-corps and C-corps? Sorting through the legal jargon and tax codes defining these business structures can be daunting for entrepreneurs - but picking the right structure for your company brings vital tax benefits and legal flexibility.
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Being your own boss can be extremely rewarding, it allows you to reap the rewards of your own hard work as well as giving you the opportunity to improve your work life balance. It is not a decision to be taken lightly, however, particularly if you are giving up the security of a regular salary. You need to plan carefully to avoid the pitfalls.
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The time has finally arrived. That small business you started a couple of years back is poised for growth.
While you're ready to take the next steps toward expansion, you may not have the extra funds necessary to bring your business to the next level. You need cash, but the idea of borrowing is just not sitting comfortably.
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Think online social networking sites are just for singles and high school and college students?
Well, think again, say small- business experts.
With hundreds of millions of registered users frequenting such sites as MySpace, Facebook and LinkedIn, it's time your small business started to look at ways to leverage these and other social networks to boost business.
"It's virtually low or no cost for entry," explains Adam Schwam of Garden City-based Sandwire, an information technology consultancy. "It allows individuals to post information about themselves, others and their business to a wider audience than they would normally meet in person."
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When the economy goes sour, small businesses can usually count on a few safeguards. For example, they can often keep their overhead costs down more easily than larger competitors, which might make it easier to weather the downturn. But if prices in the economy are rising while less money is coming into the business, suddenly contingency plans like that don't necessarily apply. That's why few words are scarier to economists and businessmen alike than "stagflation." Unfortunately, that's the word that comes to mind when the Labor Department reports, as it did this week, that prices last month were 5 percent higher than the year before. The last such yearly increase was in 1991.
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While many consumers plan to wait eight or nine months before they start filling out tax forms, quarterly filers have a deadline approaching in mid-September.
Most of those who estimate tax payments on a quarterly basis are self-employed, like freelancers, construction workers, landlords and independent doctors or lawyers. Those living on a pension also file quarterly taxes unless they opt to have taxes withdrawn from each individual payment.
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A lot depends on the industry. While Internet businesses can operate out of homes and encounter few customers who know or care that they do so, most companies in fields that rely on regular face-to-face meetings opt for commercial space because of the stigma attached to home offices, say small business consultants and home-based entrepreneurs.
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Prestigious business organizations throughout California are urging Sacramento legislators and Governor Arnold Schwarzenegger to grant an exemption for small businesses in a proposed tax measure suspending net operating losses for three years.
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Small businesses think they are being abandoned by the federal government just when they really need something in exchange for their tax dollars.
A new poll from American Management Services reveals that almost no one in the small business sector thinks that it is getting any meaningful support during the present economic crisis.
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After more than a decade as a project manager in the tree care industry, Tim Scherpenisse was suddenly out of work.
Two years later, he is an economic forecaster, strategic planner, marketing director and human resources supervisor.
Specifically, he is a small business owner. And the transition has not come without challenges.
"It's an obstacle not to let the business run you. If you're not careful, it can consume you," said Scherpenisse, owner of New Life Arboricultural Services in Grand Rapids.
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Anyone who is a serial entrepreneur or has run their own business knows that education cannot compete with the real-life experience of running your own enterprise.
I have had my own law firm for over a year and a half now, and find that I have become a business junkie. I can often be found in one of my satellite offices (Uncommon Grounds, Union College library, Starbucks, etc.) or in my home or downtown office reading any business journal or treatise I can get my hands on.
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Self employed pension can be defined as “A tax-deferred qualified retirement plan for self employed individuals and unincorporated businesses”. If you are a self-employed person who has a small business and if there is no plan to hire full-time employees, the best option for your retirement would be to set up an individual 401(k) plan.
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This week, the Rockefeller Foundation and TIME released a comprehensive survey, which asked several thousand Americans about their sense of economic security. One finding took us especially by surprise: almost half of America's youngest workers believe the nation's best days may have come and gone.
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Things have been a bit slower than usual over at the Community Business Partnership, a resource for small companies in Springfield, Va. As Barbara Wrigley, an executive at the partnership, guesstimates it, there's been a 10-to-15 percent drop in folks coming in for information about starting new businesses. "I feel like people are being a little more risk averse these days," Wrigley says.
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If you work from home regularly, there's a good chance you're working for yourself.
Some 55 percent of self-employed people worked from home on the average day last year -- and some consultants, business owners or entrepreneurs are more likely to work there than are sales representatives, finance managers and any other professional or managerial occupation, according to a new government report.
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A small business often looks like a whirlwind being ridden by its founder who is attempting to exert some control over it. And while this effort takes on many forms, including managing cash flow, leading people, increasing sales, etc., occasionally the owner asks with an almost rhetorical lament, "How do I get off of this thing for a while?"
Indeed, perhaps the greatest long-term challenge of a small business owner is not sales, profits or personnel, but rather how to dismount the whirlwind and find more balance between professional and personal life.
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The Internet gives small-business owners a powerful marketing tool that is economical, efficient and never calls in sick.
However, in an economy where relationships still matter, a Web site can also be cold and impersonal.
“The Web is faceless,” said Nick Davis, president of Indi Business Solutions in Leawood. “One person can look like 10,000, and 10,000 can look like one.”
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Once upon a time, most small-to-midsize businesses enjoyed a relatively secure status, free from malicious cyber threats. Not so anymore, experts say.
"It used to be that SMBs were not a target just because of how small they were," said Andy Klein, senior product marketing manager, e-mail security division for SonicWall Inc., Sunnyvale, Calif. "So they could put up a Web server and no one would ever see it. But that's changed. Two, three, four years ago, you could say that you're willing to take the risk and put up a firewall and call it a day. I don't think you could do that anymore. If I have a tool that I can use to thwart a lot of reputations systems, what better place than to attack small organizations that don't have infrastructure in place?"
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In my village, the local hairdresser has now moved down the street to a newer location that is offering cheaper rent than the shop she has been in for the past 20 years! It is still very costly to have a store-front in Spain and until renters figure out that the recession is here for a good while, the prices won’t come down that much. So – perhaps its time you investigated a home-based business. I have been a "home-preneur" for most of my life. Okay – I admit, I had a straight job working in a book store for two weeks, but I couldn’t wait to quit. Because I am a writer, teacher, researcher, and artist, I always felt that working in a shop was a waste of time and money. When the technological revolution came along, it made all of my vocations easier to adapt to my homelife. To be a "home-preneur", you need not look farther than your kitchen, bedroom, den, living room, or garage to find the foundation on which to build your business enterprise.
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It seems that every new electronic device on the market claims to be Bluetooth enabled. But what exactly is Bluetooth? How can it make your business more efficient? And why is it called Bluetooth?
Bluetooth is a wireless technology that uses short-range radio waves to connect devices. It has a relatively limited range, about 30 feet, which limits its use to cable replacement and similar applications. It's perfect for connecting keyboards to computers, for transferring digital photos from Bluetooth-equipped cameras, and syncing PDAs and other devices to your workstation. You can even wirelessly network printers and other peripheral devices.
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As a small-business owner, Theresa Gallup has learned "you can't do it all. Hire the professionals."
Hire a professional accountant, hire a Web designer, hire anyone who can fill in the blanks you can't.
You can learn these skills, but the time it will take to learn them and the results are often not worth it, said Gallup, who owns a home-based business, Kimono Designs.
While the majority of small businesses fail in the first five years, some are quite successful. If you're thinking about starting a home-based business -- whether it's a lawn company or crafting jewelry -- there are many things to consider. These professionals share their tips for success and how to avoid common mistakes.
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Your bank should be more than a repository of cash. It should make life easier, offer guidance and support, and not charge whole body parts for the privilege.
While banks aren't exactly playing fast and loose with their capital these days (for more check out The Real Scoop On The Credit Crunch), small businesses still remain an attractive market. Courting a relatively small number of large companies can leave scars; meanwhile, there are more than 21 million U.S. companies with fewer than 20 employees looking for attention.
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Q: Steve, what is your take on the state of small business right now? And if small businesses are having as much of a hard time as it seems, what are they doing to break out of the doldrums? — Rick
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I have tremendous respect for any home-based business owner who is also a single parent. How they manage their dual responsibilities is beyond me.
June Bertucci of West Hyannisport has been a single mom for nine years, and a home-based business owner since 2004. Bertucci's two boys were 6 and 10 when she launched Small Office Computer Support of Cape Cod. She left behind a good job in IT and struck out on her own for them. She wanted to manage her time, so she could be with her children as much as possible.
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Here's some help starting a small home business. Business savvy comes naturally to some. For others it's an intimidating prospect, to have your own business, to go out in the world and sell yourself, your services, your products. But you'll do fine, trust me. And everybody starts somewhere.
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As a young entrepreneur, I am often asked: "So how are you doing?" What people mean is: "Are you making any money?" Society measures success by what you have in the bank. Now as much as this question is irritating, cash flow is king for any business. You must have money to put back in the business if it is to grow. But money should not deter you from focusing on yourself.
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Freelancers and their clients need each other to survive. But mismatched expectations, poor communication and delayed payment may cause this relationship to break down. Here are twenty tips that clients and freelancers feel the other can do to ensure good working relationships.
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The end of June and beginning of July is an important time for savvy small business owners, who'll be assessing their companies' finances and thinking about strategies for the second half of 2008. A midyear checkup is even more important than usual this year, given the uncertainty of the business climate.
Accountants and other tax professionals say business owners should consider steps to lower their energy bills, not just for this year, but the long term. And the government has made some recent changes to the tax laws that owners should take into consideration.
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“It is not the man who has little, but he who desires more, that is poor.” – (Seneca - Roman philosopher)
In 1995 stock promoter Ivan Boesky declared “greed is healthy”, which was the genesis for the infamous Wall Street slogan “greed is good”, a mantra that inspired the Hollywood movie Wall Street staring Michael Douglas.
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The end of June and beginning of July is an important time for savvy small business owners, who'll be assessing their companies' finances and thinking about strategies for the second half of 2008. A midyear checkup is even more important than usual this year, given the uncertainty of the business climate.
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Running a business from home is more popular than ever before but without the right technology entrepreneurs could have all sort of problems. In this essential guide, Simon Hurst outlines the key IT kit all home-business owners should have to hand.
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The most obvious analogy is eating in a bad restaurant. One unhappy customer tells another potential punter about their negative experience, which is then relayed to even more people, who all respond by planning to stay away from the restaurant. It’s exactly the same for a freelancer. If the freelancer upsets a client and leaves them upset; then before the freelancer will realise, ten of the client’s contacts, who would have once hired the freelancer; would now refuse their services. It’s not just the chance of work with the existing client company the vocally disgruntled freelancer damages, it’s the chance of work with any commercial party the client may talk to.
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More than one-third of the 600 surveyed said their personal financial situation as a whole is getting worse. Seventy-five percent of respondents had concerns about paying for gas, and 51 percent worried they will not have enough money for the next 12 months to cover regular medical and dental expenses. Forty-six percent feared they will not have enough money to pay for unforeseen medical emergencies.
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Do you conduct yourself like a professional writer? I remember many years back when I was first enjoying the exhiliration of publication....as well as juggling parenting, household duties and a whole range of additional responsibilities, I hadn't yet acknowledged the notion that I was quickly becoming a professional in my chosen field. Sure, I'd had a few articles published and was hard at work on a book full of humorous essays. Yet every time I found myself in a situation where professionalism could have yielded merits, I likely appeared very unprofessional. A fellow professional freelancer offered some sage advice. As with any advice, we have to tweak it to fit our particular lifestyles. I did just that and found a few tried and true ideas that proved quite beneficial.
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When the economy is slow, it might seem prudent to hold on to what you have rather than try to expand. Fearing recession, small-business owners might worry more about cash flow than about generating media buzz for their company.
But PR and marketing are different from other kinds of expansion. They don't always require a lot of money—just time and effort. U.S. News spoke with Kevin McLaughlin of Resound Marketing in Princeton, N.J., about how small-business owners can put themselves on the map and, once on it, stay there. Excerpts:
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Successful b-to-b marketers know that a one-size-fits-all approach is not the most effective and rarely delivers the results needed to justify the cost of a marketing campaign. In consumer marketing, behavior is based largely on demographics and attitudes. Marketing to a small-business owner isn’t very different; after all, the small-business owner is also a consumer. And these consumer demographics, behaviors and attitudes often influence how they run their businesses. Adjusting your marketing plan to fit the unique demographics of a small-business owner ensures messages are relevant and more likely to deliver the intended results.
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Small-business owners are not optimistic about the current state of the economy, according to the latest business index of small-business optimism from the National Federation of Independent Business.
Earlier this month, the index fell 2.2 points to 89.3, characterized by NFIB Chief Economist William Dunkelberg in a news release as a recession-level reading that’s the lowest the index has been since 1980.
“But the current low readings have not been accompanied by the declines in real spending and hiring as was the case in past recessions,” he said.
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A recent survey commissioned by the Independent Insurance Agents & Brokers of America found that nearly 60 percent of the nation's 11 million home-based businesses do not have insurance coverage. Of those entrepreneurs, nearly 40 percent thought they were already protected by some other type of coverage, while almost 30 percent said their businesses are too small to insure. Madelyn Flannagan, IIABA's vice president of education and research, explains that home-based business owners are at risk for significant financial losses associated with theft, accidental damage, natural disasters, vehicle accidents, and liability if an employee suffers an injury while on the job or a business guest is hurt while visiting the home-based business.
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The Small Business Administration is defending itself from critics' claims in a recent New York Times article blaming the agency for lingering problems, including failure to provide a greater availability of loans.
The article by Elizabeth Olson cited various disgruntled small business groups who criticized the agency and said its former chief, Steven Preston, who recently moved to head the nation's housing agency, "left behind various problems."
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he U.S. economy relies heavily on the efforts of small business. According to figures from the U.S. Small Business Administration, they employ 50% of private sector, have generated 60% to 80% of all new jobs in the last decade and create more than half of the nonfarm private Gross Domestic Product.
Voters might wonder where the presidential candidates -- Sen. John McCain (R., Ariz.) and Sen. Barack Obama (D., Ill.) -- stand on the important issues to entrepreneurs and small businesses including government reform, health care, and taxes.
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This article is sure to incite some debate as I could have easily listed ten or more steps a small business should take in terms of security. Some might disagree with the three I’ve selected here-and that’s ok. Anyone reading this blog will hopefully get the point, which is that security can be complex, especially if you’re a small business-but you have to start somewhere. Where do you begin if you’re a lawyer running an office with six computers? Or a doctor who has a nurse running the “IT Stuff.” You might not be able to afford everything under the sun, or that pricey consultant or that expensive managed service. But that doesn’t mean you don’t still have security concerns.
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How is this downturn in the economy treating you so far? Is your small business being hit by higher prices and fuel surcharges? While some companies around the country are cutting employees, reducing benefits, and fretting about in a panic, I'm curious how others are faring through this rough economy - particularly the small business community.
Still looking for ways to slash spending at your small business? Here are a few of my ideas on how to reduce costs in your office today:
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For those unfamiliar with the term referral marketing, I encourage you think about how useful it would be to turn your existing clients into your very own sales force. Freelancers often have limited resources to promote their services, Freelance Alliance is ideal, but previous and existing clients also form a list of people that are familiar with you, know what you can do and may be willing to tell others. There's much more to it than just 'word of mouth' however. I term referral marketing as "a structured and systematic process that encourages, informs, promotes and awards your client and contact base to talk as much as possible about you, your company, your product and your service."
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Last month, when US gasoline prices were edging towards $4 per gallon, we asked about the impact on your lives. Most of our respondents were already staying home more and traveling less. Now, with the prospect of $5 gas this year being increasingly discussed, we”re getting hit with plenty of other dismal transportation news. Airlines are raising prices and discontinuing service. And now, thanks to bad weather in the central US, ethanol fuel production is in trouble (as reported by our sister site Earth2Tech).
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Julianne Dowling reports that small business owners are lagging in retirement savings.
Most self-employed small business owners have superannuation levels well below national average, with nearly a third of them having no retirement savings at all, a new survey has found.
The report on self-employed and retirements savings by the Association of Superannuation Funds of Australia (ASFA) has sparked concern over the sharp disparity between small business owners retiring with considerable assets and those forced to rely on the age pension.
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Almost half of freelance workers are so satisfied with their flexible business careers they would reject a 100% pay rise if it meant having to become an employee.
Most value their independent working life so much that adding 50% to their take-home pay wouldn’t convince them to quit freelancing for 9 to 5 employment.
Controlling when and where they work is the most prized asset of working atypically, followed by escaping the ‘rat race’ and having more time to pursue their interests.
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Costs are rising, profits are shrinking and the ability of the big guys to keep prices relatively lower is drawing away customers.
Things are so bad that many small enterprises, which account for about 99 per cent of the businesses in the U.S., say they are hanging by a thread that may soon snap.
"We are basically losing money every month, about $1,000 a month. It's been about two, three months now," said Tom Weisbecker.
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The Small Business Administration launched an online resource center to help small business owners understand the tax incentives in the 2008 economic stimulus package.
The stimulus package, signed into law earlier this year, includes an increase in the deduction of equipment purchases to $250,000, from $128,000. In addition, businesses can deduct up to 50 percent of the cost of certain equipment purchased this year.
When they visit the online center, small business owners can read an explanation of the tax benefits, use an online calculator to estimate the first-year depreciation of their equipment and listen to a tutorial that summarizes the incentives.
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If you've been using the same business broadband provider for years, now may be a good time to cut your costs or increase your bandwidth by jumping ship. Today competition between cable and telephone companies for business broadband customers is red-hot. As of 2006, more small businesses had DSL (35 percent) than cable (25 percent), but that balance is shifting as cable companies ramp up the speed of their service and push business-oriented broadband/phone packages at compete very attractive prices.
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A day after Senator Barack Obama launched a broad assault on presidential rival John McCain's economic plan, McCain hit back today by asserting that Obama's tax proposals would ensnare millions of ordinary Americans and further weaken the economy.
McCain, speaking to small-business leaders in Washington, said that Obama's plans to restore higher tax rates to upper-bracket taxpayers, increase the capital gains tax rate for the richest families, and possibly raise the cap on Social Security taxes would affect not just the wealthy, but also moderate-income voters and independent businesses.
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You're at your Monday morning staff meeting, and laid out on the table are bagels and cream cheese and doughnuts and bear claws.
And just down the hall to wash it all down is a vending machine filled with soda, or perhaps a candy machine for that extra sugar rush.
While this may or may not describe your worksite, chances are your office isn't as healthy as it can be. But with a little imagination and effort you can create a healthier work environment for your employees without breaking the bank, say health and wellness experts.
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New research released today from the National Federation of Independent Business (NFIB), sponsored by Wells Fargo (NYSE: WFC), shows the top concerns among small business owners are business costs, particularly those that are difficult to control such as health insurance costs, energy costs and inflation. The survey results are from the seventh edition of Small-Business Problems and Priorities survey,based on 3,530 small business owner responses to a mail survey circulated in the first three months of this year.
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Starting up your own business is a dream that a lot of people have and if you have a good business plan you stand a good chance of making your business thrive. What about insurance for the self employed though? It is definitely something that should be taken into consideration. Some types of insurance may be required by law and so this should be checked out carefully. There may be other types of insurance that are not required but would still be worthwhile buying.
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A survey released today from Microsoft Live Small Business, finds that 61% of female respondents who were small-business owners say they do no online marketing, and nearly 40% say they don’t have a Web site. These women attended Microsoft’s Vision to Venture conference held recently in five U.S. cities.
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When Boston advertising giant Arnold Worldwide lost Volkswagen as a major client in 2005, Bob Weeks, creative director on the account and a 22-year veteran in the ad world, figured his job would be eliminated. He was right. But he did not predict the course that his life has since taken.
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My fiancé decided two years ago to go into business with his sister and her boyfriend. The business is a entertainment venue and restaurant, but because they jumped into the business without a business plan or clear vision, it is failing. My fiancé knows this and wants out, but because of the emotional and verbal abuse he has endured from his sister's boyfriend, he feels trapped and doesn't know how to exit the business. What can he do?
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The Tools For Success website was created specifically to give business owners, managers and leaders a powerful and time efficient resource to connect with America's most influential names in business by utilizing cutting edge podcasting technology. TFS has been built on the premise that America's business men and women have a passionate desire to learn the secrets and strategies that create healthy, thriving companies. Toolsforsuccess.com primarily features short interviews that are produced to professional broadcast quality, most of which are 20-30 minutes in length. New podcasts are added daily. Topics featured include advice in sales, marketing, management, leadership, PR, as well as many other critical aspects of business.
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Research shows that 70 per cent of small businesses fail within the first two years and 80 per cent fail within five years. These statistics are quite troubling.
Asquith Brown, manager of Small Business Banking at Scotiabank, explained the logic behind the statistics. "Jamaicans are very good at coming up with a concept or a great business idea, however, they often don't have the requisite management skills needed to take the business beyond a certain point."
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I have a long track record of working myself into a state of exhaustion in the days and hours before traveling. So it was no surprise a few weeks ago when I whirled into a frenzy before leaving home for a 12-day work trip.
This happened in spite of my best efforts to avoid it. In fact I had paced myself pretty well over the previous 10 days. By Sunday morning, the day before my flight, all I had left to do was pack and take care of one other detail — printing up business cards for the trip. I've made my own cards before and the files were in my computer, so I figured this little task would take just about an hour.
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If you're reading this, then there is one thing for sure: you have some kind of interest in becoming a home based business entrepreneur. Maybe you're adventurous and want to live the experience of owning your own business. Or perhaps you eventually want to become self employed instead of having a regular job. Whatever the reason, there's one main goal: to succeed and profit as a home based business entrepreneur.
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Remember the Internet is a tool.
Some people have this crazy notion that if they get a website up on the internet their business will be magically built for them and people will pop into their program with no effort from them at all.
In fact they believe they don't have to do anything but snap their finger and shazzammm... an instant downline appears out of nowhere!
Nothing could be further from the truth.
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Small business owners are certainly feeling the economy crunch that is spreading throughout the global economy. These small businesses are also under increasing pressure to drive sales, while also reducing expenses, but this can be a tricky balance for any company.
While following strategies aimed at achieving these goals, small business owners say that the number one frustration they face daily when it comes to sales and marketing is the inability to consistently follow up with prospects.
Infusionsoft, a small business marketing automation software provider, recently conducted a survey of entrepreneurs across the U.S. and found that 65 percent of small business owners cite an inability to consistently and efficiently follow up with leads as the top concern.
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When your home is also your office, the housing slump can hit doubly hard.
That's the situation facing a growing number of owners who run microbusinesses, which are small, often home-based companies that employ nine or fewer workers.
A new report from the National Association for the Self-Employed in Washington, D.C., found that 62 percent of microbusiness operators said they're concerned sliding home values will affect their ability to survive and grow.
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‘Work Life Balance’ has been talked about for years, but it also applies to small home-based business owners. The biggest difference is that when you are an employee working for a company that works toward work/life balance, your boss is (hopefully) looking out for you. When you work for yourself, you have to look out for yourself!
I have a built-in monitor - my children. They need to be picked up after school whether I have work to do or not, and I’m an only parent. They also need to eat - every day! Since I really enjoy spending time with them and understand the value of having dinner together, I don’t work with clients nights or weekends.
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Do you want to be a consultant or contractor? Have you thought of opening a retail establishment or other business?
Creating your own career is the key to steady income in today's economy. When you develop a business, you become the employer, controlling your work and lifestyle. Research indicates self-employed people are happy workers.
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Why isn’t everyone talking about it? Perhaps they are missing the forest for the trees. Everyone knows the Internet but did you know that home-based businesses on the Internet are one of the fastest growing employment sectors in the US? Even during today’s recession.
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Self-employment is getting a bum rap, a small-business group suggests in a report that argues that a rapidly growing proportion of the self-employed have not only created jobs for themselves, but for other workers as well.
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Freelancing is the fourth best way to earn money on the internet, according to website bestsyndication.com.
With more people being able to access the internet, working from home in your own time is a more attractive option for many people looking to cash in on the specialist areas they have knowledge in.
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So you want to start your own business, work from home, hit the pavement running, thumb your nose at the corporate establishment and work in your pajamas? You’re probably thinking it will be the perfect answer to spring-board your career while making buckets of money and basking in the fact that you are now your own boss.
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A combination of demographics, tax and regulatory changes and technological innovations has boost the number of self-employed Canadians, according to the Canadian Federation of Independent Business (CFIB).
A new study of Canadian census data by the CFIB shows that between 2001 and 2006, the number of self-employed people increased by 18.6% - more than double the rate of total employment growth in that time frame.
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When is the last time you took a hard look at all your branding materials (e.g., your marketing materials, packaging and Web site)? Do they match one another? Is the information up-to-date? Is the messaging consistent? Perhaps it's time for an evaluation -- a "spring cleaning," so to speak.
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If there ever has been a small business lesson to be learned from a big business brouhaha, Microsoft's (MSFT - Cramer's Take - Stockpickr) bid to buy Yahoo! (YHOO - Cramer's Take - Stockpickr) is it.
Of course, it is no wonder why the behemoth from Redmond wanted to buy the behemoth from the Silicon Valley ... namely a Google (GOOG - Cramer's Take - Stockpickr)-sized behemoth that has passed them both by, at least online.
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I've been self-employed many times. It suits me, as I dislike people and prefer to be 100% alone. (That's a joke, although truth be told I have always been a bit of a loner.) Being your own boss is great - set your own hours for the most part, few senseless meetings where everyone gets together for a supposed purpose but really just ends up bitching about their jobs, and no co-workers stopping by your office to gab when they are short on work but when you have plenty (or when they have plenty of work but are procrastinating).
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Getting freelancers to pitch for work can be one of the ways that start-up companies can get "invaluable expertise" at "a reasonable cost" according to bytestart.co.uk.
According to the small business website, outsourcing can lead to a growth in business without breaking the bank, as employing people to do jobs that only take a short amount of time such as bookkeeping can mean the job will get done quicker and take up less of a small business owner's time doing work they are not completely sure of.
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Question: I am a 54-year-old self-employed consultant and I don't have a retirement plan except for an IRA account. With the current limits on contributions I don't feel like I am able to save enough for my future retirement. Is there anything else I can do to save more money and reduce taxes.
ANSWER: There are many ways you can save money for retirement, but one of the best plans for self-employed individuals like yourself may be the "Individual or Solo 401(k) plan."
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You don't need to spend big bucks to create an effective marketing strategy for your small business.
We asked a few local business owners about their marketing plans. They revealed that low-cost creative, relationship-focused efforts had the biggest impact.
The challenge for new entrepreneurs is that this approach takes time, which is in short supply when you're launching a business. That's why we strongly recommend creating a plan that maps out your marketing goals with realistic expectations.
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Working from home offers many advantages, both in convenience and economic terms, but it also can make you vulnerable.
The fact that your business takes you to different places every day and enables you to interact with a wide variety of people may be exciting and interesting, but it can also increase your chances of becoming a crime victim. Home-based business owners must be prepared to protect themselves both in the home office and out "on the road."
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The Internal Revenue Services' (IRS) small business and self-employed division began an awareness campaign designed to share tax information with new small business owners.
The campaign's first event will be a free national telephone forum May 21 where callers will receive guidance about tax compliance, record- keeping, and other details to prevent erroneous tax reporting.
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Sure, it can be great, but it also can mean longer hours, less productivity, more stress and the conviction that you're going bonkers.
The problem is the unrealistic expectations on the part of the person who wants to set up a real, working office from home. That's where Jeffrey A. Landers comes in.
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Since 1997, the number of people working from home has risen by 600,000, to 3.5 million, a figure which experts estimate could rise to five million on Thursday.
Phil Flaxton, chief executive of Work Wise UK, the organisation behind the day, said: "The benefits of working from home, even occasionally, are now widely accepted.
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Most people who work from a home office experience the same feelings of isolation at one time or another. According to Jeanne Kaplan, Certified Energy Leadership Coach, Kaplan Coaching, "Just because you work from home doesn't mean you have to stay at the "office" all day".
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Nearly 78 percent of owners and managers of small businesses say their companies will meet or surpass growth expectations this year, according to a national survey.
About 44 percent of the companies surveyed are hiring full-time employees, while 11 percent plan to add part-timers.
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Almost everyone is familiar with the owner of the corner store, a friend or neighbor dabbling away in the garage to create the next big thing, the technology whiz kid, a seasoned executive ready to make a new start or the savvy "mompreneur" who seeks a more flexible schedule.
They are all critical to U.S. competitiveness, especially during an economic downturn. There are nearly 27 million small businesses in the United States that account for about half of the American economy and employ about half of the country's workforce. During the last 15 years, small firms generated 93 percent of the nation's new jobs.
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Evaluate Your Home Office Needs
The first step in creating a home office plan that works is to evaluate what you plan to do in the space. Say, for example, your work requires you to prepare client packages or corporate gift baskets.
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When starting your first client project as a creative freelancer, it is vital that you plan ahead thoroughly to legally protect yourself as an individual or trading company.
Look ahead before you start the client’s project. Make adequate contingency allowances for unforeseen circumstances - in other words, things that could go wrong.
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