It used to be people went outside the home to earn money or apply for jobs. However, with the rough economic times in the last two years dealing major setbacks to major employing companies and even bigger corporations, more and more people are now going back to their homes, not to remain unemployed, but to become employers themselves by creating their own business.
Who can blame them? Maintaining a home-based business requires a smaller start-up cost as compared to thousands to millions of pesos needed for purchasing new equipment and creating your own space.
Rather than pay thousands of pesos for a few square meters, there’s virtually no need to pay monthly rent because your home is your office. [Read about a successful business that started at home here]
There’s also no need to shell out a small fortune to hire regular employees, you control your workload and your time, and the best part, you are your own boss. It isn’t surprising to find that for those who have made the leap from employee to employer, they began the transformation at home.
Many started their businesses as a part-time job, and eventually made it their fulltime career, finding more than just financial fulfillment in a small capital and home-based business. And for the lucky few, the business that literally started in their own backyard became the beginning of a bigger, and more ambitious mainstream brand. And with the Internet becoming an accessible and free platform for start-up entrepreneurs to begin their business ventures, it’s only a matter of time before another small capital and home-based business makes it out into the big league. And to think it all began at home.
Set Up a Home –Based Business in Six Steps
Just because you have the luxury of having your business in your home doesn’t mean you can treat your business like your home. It’s still, after all, a business. Learn the right way to set-up your own home-based business. [Read about Mama Lou\\\'s home-made cookies here]
STEP 1: Make it Official
Registering your home-based business gives you and your company credibility and shows your customers or clients that despite being home-based, you still mean serious
business. It’s easier that you think.
Action 1: The Department of Trade and Industry has made registering your business name easier with its Business Name Registration System (BNRS). Log on to www.bnrs.dti.gov.ph and check if the business name you have in mind is already taken. To save time, have at least three possible names for back up. [See five rules for a home-based business here]
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