Home-based business

https://sbs-spe.feddevontario.canada.ca/home-based-business
Being able to work at home appeals to a lot of people, but there are a few things you should consider before deciding to start a home-based
business. Depending on the amount of space you require, and on the nature of your business, operating from your home may be a great
option. Consider the many factors involved to be sure that working from home is your best choice.
Advantages
 Cheaper than renting and you can deduct business taxes for the use of your home (for example: property tax, utilities, repairs and
maintenance, home insurance, rent or an interest portion of your mortgage)
 No commuting
 Set your own hours of work
 More comfortable working environment
 You can put as much time as you want into the business
Disadvantages
 Not a lot of room for expansion of the business
 Isolation from business associates
 May not be able to accommodate special equipment or extra staff
 Legal and health restrictions, if your business is in an apartment or house
 Interruptions from family and friends, and difficulties setting boundaries
 Having to motivate yourself, even when the business is not performing well
Do your research to determine what is right for you
Before launching your home-based business, consider these important points:
 Pick a home business idea that you can finance, that interests you, and where there is a need in your area
 Make sure you designate, for your business, a specific area of your house or apartment that is away from your main living space
 Try not to get distracted by things that may take you away from your work and compromise your productivity
 Check provincial and federal regulations for any health, safety and taxation regulations before you start
 Do not compromise your professionalism because you are in a less formal environment
 Make sure you are available to your clients by keeping a consistent schedule or using other approaches to get back to them quickly
 Be careful of home-based opportunities that may be fraudulent
For more information on home-based business and other business topics, contact Small Business Services today. Telephone services are
available in English or French.