by Milton Johanides

Created on: March 17, 2010

There are many advantages to starting a business from home, particularly in a high risk economic environment as we have at the moment. Working from home means you will not need to sign a contract for premises and commit to expensive mortgage payments or rent. You will also save money and contribute to a healthier environment by not having to drive to work. Other cost savings are made from using domestic electricity and adapting the home computer for business purposes.

These days, with the massive growth of internet opportunities, working from home is easier than ever. Every business from product mail order to website design can be run from a small laptop. For parents, working from home can mean saving childcare costs. Working from an office or a shop often results in extra expenditure on snacks or expensive lunches, whereas a home office gives you easy access to cheap coffee and sandwiches.

Apart from cost-savings, there are other advantages which come with working from home. You can work as many hours as you like without sacrificing time with the family. Children and partners benefit from having you around and you can be happy that you are not wasting those precious moments away from your children. Flexible working hours mean you can tailor your work patterns to suit your mood. If you are feeling particularly productive there is nothing to stop you putting in the extra time. Conversely, if you want a lazy day you can take time off without sacrificing overheads.

The home office can act as a perfect test launch for your business. It can give you time to monitor demand, do your research, iron out product glitches, and gradually aim to increase sales to a point when you can confidently move into premises and begin employing staff. It is a low risk solution to what can these days be a risky business, running a one man, or one woman, financial enterprise. For the true entrepreneur, eliminating as much risk as possible from a new venture is vital and testing your start up from home is the perfect answer.

If things do not go as planned, it is quick and easy to wind up operations. There are no complicated contracts to get out of, no staff to lay off. But if you use your time efficiently, build up plenty of motivation, there is no reason why a home start should not work for you. You can even try a number of different activities and after six months pick only the ones that are working best for you. This is a recommended way of going into business for the first time, without over committing.

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