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Home-based or lease a commercial space?

Things to consider in putting up a home-based business.
By Atty. Reeza Singson |

Q: My husband and I are thinking of putting up a small business . We already have something in mind and the plan is slowly starting to shape up. To save on start-up costs and monthly overhead, we initially thought about setting the business up in our own home. However, we are now having serious misgivings about this. Our house is in a very private residential area . We fear that the location might not be best in terms of attracting customers. On the other hand, if we lease commercial space, it might eat away our start-up capital. Please help.



A: Due to the economic slump , more and more entrepreneurs are considering small-scale businesses run from home. It is not a bad idea, although there are a number of things to consider before you jump into it.

What you have in mind is a microbusinesses, also sometimes called a mom-and-pop business. This simply means it is a business operated by a single family which typically has no employees other than the owners themselves. Its biggest advantages are obvious: no lease and no salaries to pay. A less obvious but still desirable advantage is there is less paperwork to do before you can start operations.

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Now we come to the undesirables. There is just one big disadvantage as you say, and it is lack of visibility. With careful planning and a lot of creativity, it is something you can easily overcome.

 


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