Monday, October 10, 2011

Work from Home Nuts and Bolts-Must Haves

Our current economy has necessitated and pushed some people into a home based business. Some have prospered while others have crashed and burned. There are tools and devices you can put in place that will make your chances of success better than average with your own home based business. Having the right tools when you start your venture will certainly make the road easier and the chances of victory brighter.

There are some things related to any work from home business that are must haves. These are things that are beneficial or needed regardless of what your work is. Whether you are invested in production, processing, marketing or other work from home opportunities some things must be had by all and cannot be ignored for a successful and prosperous business.

These are some of those things you will need as a home based business entrepreneur;

Buy insurance for your business
Business insurance is really a must have if you take your business seriously. If you are just dabbling in a project and see it as more of a hobby than a business you may get away without it. However, successful prospects have business insurance in place for good reason.

Homeowners insurance doesn’t cover your business, even when working from your home. Whether you have built an office in the house or work out of your garage your homeowners insurance won’t cover your business.
Review and know tax laws for your county, state or city related to your business
Gain knowledge with your home based business tax laws before you do your taxes. Learning about the home based business tax laws after you do your taxes is never pleasant for you or your tax person. Many times if any changes that should or could have been made to make your burden lighter cant at tax time.

Know your local zoning laws
Zoning laws for home based businesses are important. Zoning laws can vary depending upon your business and where you live. These are easy to find by a simple online search or contacting your local city or county government.  For business opportunities that deal with the public, have employees that work out of the office or non-standard business laws are more likely to be challenged in front of the zoning commission. Don’t invest a lot of time, effort and energy in your business only to lose it all because of a small zoning issue you weren’t aware of.

Prepare for any type of inspection
Inspections and passing them are vital for many home based businesses. Ensure you are prepared for inspection and always pass the first time around. For instance, if you have a babysitting business and know that you have to pass inspection each year, make certain you are ready. Most inspections are set up ahead of time with a written contact, followed by a verbal connection with an inspector. Every opportunity to given to let business owners know they are going to be inspected and when. Don’t allow this one 20 or 30 minute visit once a year turn into a 2 or 3 day ordeal or at worst the loss of your business. Prepare and pass your inspection. Businesses that involve handling food, employees entering your home or hazardous materials will typically require an inspection.

These are important details that a home based businessperson should be aware of when starting any home based business.


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