"A home business or home-based business (HBB) is a small business that operates from the business owner's home office."
A type of business that operates from the owner’s home or other residential location.
Market Research: Researching the market to determine if the home-based business idea is viable and if there is a market for it.
Business Planning: Creating a business plan that outlines the company's goals, strategies, and financial projections.
Legal Considerations: Understanding the legal considerations of running a home-based business, including business registration, taxes, and permits.
Finance and Accounting: Understanding basic finance and accounting principles, including bookkeeping, budgeting, and cash management.
Marketing and Sales: Developing a marketing and sales plan to attract and retain customers for the home-based business.
Networking and Collaboration: Building a network of contacts that can help with business development, marketing, and sales.
Product or Service Development: Developing a product or service that meets a need in the market and differentiates the home-based business from competitors.
Technology and Automation: Understanding how technology can help automate and streamline home-based business operations to save time and improve efficiency.
Time Management and Productivity: Developing effective time management and productivity habits to help home-based business owners stay focused and productive.
Work-Life Balance: Finding a balance between work and personal life to avoid burnout and maintain well-being.
"Home businesses are usually defined by having a very small number of employees, usually all immediate family of the business owner."
"Home businesses generally lack shop frontage, customer parking, and street advertising signs."
"Such businesses are sometimes prohibited by residential zoning regulations."
"Remote work has increased. Home offices compete with small commercial businesses and are cheaper to operate."
"It may also be possible to tax deduct some home expenses while running a home based business."
"High-speed internet connections and smartphones help to make a home-based business a reality."
"Earlier home businesses had been where families lived on the second floor of their house while converting the first floor into a store, where upon close of business they would secure the first floor and retire to the upper floors."
"This type of home business is still done in some rural areas."
"Many home businesses are started off in a much smaller capacity whilst the owner is still employed elsewhere."
"...expanded once they are proven to be profitable."
"...having a very small number of employees, usually all immediate family of the business owner."
"Home businesses generally lack shop frontage, customer parking, and street advertising signs."
"Such businesses are sometimes prohibited by residential zoning regulations."
"Home offices compete with small commercial businesses and are cheaper to operate."
"High-speed internet connections and smartphones help to make a home-based business a reality."
"Earlier home businesses had been where families lived on the second floor of their house while converting the first floor into a store, where upon close of business they would secure the first floor and retire to the upper floors."
"This type of home business is still done in some rural areas."
"Many home businesses are started off in a much smaller capacity whilst the owner is still employed elsewhere."
"...expanded once they are proven to be profitable."