If you wish to start a home based business but don’t want to get a business loan you do have other choices. Actually many people view working from home as a way to start a business without much cash at all! It is actually possible to start a home based business on a very small budget.
Just working from home is going to save you money on not having to rent office space. All that you really need to do is set aside one area of your home to use as an office. If you do this you can technically deduct portions of this space on your income taxes.
Your start up business expenses will depend upon what type of business you are starting. If it is something that is based online then you really don’t have any major expenses at all. All you require is a computer with an internet connection.
If you are turning your hobby into a business such as making jewelry you can now deduct your craft expenses as a business cost. You won’t in fact have any start up costs at all.
On the other hand if you are setting up as a virtual assistant or graphic designer you may need to purchase software programs. Many of these software packages come with a 30 day trial period. So you could technically make the money before having to pay for the software. If not you will have to include these costs into your start up fees.
You will hear lots about having to advertise your business. This can really eat into your budget. If you are running an online business it is possible to run free advertising and marketing campaigns. If you wish to run paid advertising campaigns then budget for this accordingly or use the profit from your first few checks.
It is quite easy to create your own flyers and brochures for your business. You can then take them to your local office supply store to get them printed. This is perfect if your business offers local crafts or if you bake cookies or homemade dog treats. Deliver the flyers to relevant businesses in your area so you are getting the best visibility for your new business.
If you really want your own home based business you can easily choose one that suits your budget. Everyone has to start somewhere and all businesses take time to grow. Regardless of your starting budget start your business now so your dreams of working from home come true.