Self employment - deciding which business is right for you
Self employment
Self-employment is becoming an increasingly popular option for people who wish to change careers, earn a second income or some extra cash to put towards their retirement.
However, it isn't always easy to know which business you should set up. There are several important considerations. Today we'll consider:
Start-up costs.
More traditional small businesses, such as corner shops or franchises require a fairly hefty injection of cash. Others, such as setting up at home or in a clinic as a practitioner of alternative medicine, are less costly, but still involve payment of rent or taxes to allow you to operate in a particular area. Online businesses require either a lot of money or a great deal of time.
It's important to choose a business in a field about which you feel excited and in which you have a strong interest - you'll be spending a lot of time there!
Having established the area in which you'd like to work, make sure you research the costs involved before coming to a decision.
posted by Waller @ 7:59 AM
2 Comments:
I know this is very old, but I just wanted to say that this is an interesting post. I want to run my own business soon, so this is helpful. Instead of starting a business from scratch though, I'm interested in buying a business. I know it'll be hard and challenging, but I'm up for it. Any suggestions? Advice? Thanks.
Michelle -- There are a lot of resources you can use online. One of which is BizTrader.com. It's an online global marketplace where you can buy a business, or even sell your business. You can also use it to find a lender or broker. It's a good place to find a small business on the Internet.
I also recommend checking out small business groups in your area. They might be able to help you.
Good luck!
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