Successful Home Based Business

home-based business

Working from home is now the need of the hour!

Over the last decade, high-speed internet, a spread of devices, applications, and changing attitudes about the nature of work has simplified the process of working from home in the time of the COVID-19 pandemic. The trend of working from home is not limited to India. Eighty percent of people are now working from home all over the world.

Are you a woman who aspires to be your own boss?

In the times of the COVID-19 pandemic, the dream of being your own boss (or ruling your own world, perhaps) is very much alive. It is now possible to start almost any kind of home-based business immediately, with varying degrees of investment and experience.

India is heading to a progressive society where women are at par with men in all aspects. Womenfolk today are more career-oriented, competitive, and intelligent. However, the escalation of the women entrepreneurs in India has been quite slow compared to other countries, but the change seems inevitable. For female entrepreneurs in India, stetting-up their own business is not just about being financially independent; it’s about their passion. It’s like living a dream for them.

Commencing a business has its own set of risks. Still, most of the women in India are actively managing their homes and secretly nurturing their dream of becoming a solo-preneur. Some of the home-based marketing business ideas turn out to be vague; some are hazy, while some are too fictitious to be executed. With the help of this blog, the Empoweress group’s initiative is to help the women stretch their wings and support them to fulfill their dream of being an entrepreneur. Fortunately, there are many successful home-based business ideas to stimulate your thinking. These economical small home-based marketing business ideas for women in India are suitable to start and allow them to grow their business over time, without leaving their home.

1) Fashion designer

2) Bakery

3) Image consultant

4) Event parlor

5) Digital marketing agency

6) Selling products on E-commerce platforms

7) Urban landscape artist

8) Freelance Content creator

Choose any of these innovative and feasible home-based business ideas that you love. To succeed in the commencement of home-based business, make a list of the aspects that are important to you, such as a good Return on investment; a flexible schedule; a sense of freedom; work-life balance; low startup costs; passion; something within an individual’s ability and experience.

More and more businesses are implementing home-based remote work in the present scenario because of its numerous benefits. Boost in productivity, access to an extensive pool of skill-set, and lower operating expenses are some that immediately come to mind.

But for many small- or medium successful home-based business entrepreneurs, deciding whether to stick to an office-based setup and integrating a home-based remote structure is choosing between black and white, especially now in the COVID-19 outbreak.

The Advantages of successful home-based businesses:

There are many aspects to setting up a home-based business that draws people’s attention, particularly when it comes to cost-cutting on expenses and taxes.

  1. No Commuting

The most apparent advantage of a home-based business is the lack of commutation, which saves time and eliminates travel expenses.

  1. Curtailed Overhead

All the home-based businesses share the advantage of not having the expense of buying or renting business premises in a different place, which significantly cuts down on overhead. As there is no separate office to rent, they may also save the expenses on such utilities.

  1. Income Tax Advantages

To be eligible for a reduction in income taxes, the area of your home-based business needs to pass the “exclusive use” test, which means you must be able to show that a separate area of your home is your principal place of business. That particular area is regularly and exclusively used for business purposes.

  1. Family Time

If you have children, operating a home-based business can be more flexible with child care and spend more time with your family. You can always be available to your family.

The Disadvantages of Home Businesses:

Setting-up a successful home-based business is not for everyone’s cup of tea. It also has some difficulties and disadvantages:

  1. It’s Not Allowed in Some Areas

Most cities regulate home-based businesses, and particular neighborhoods might have agreements against them. Some of the landlords are not home-based business-friendly if you’re a tenant.

  1. It Might Not Work for You

Even if operating a home-based business is permissible, Issues such as signage, parking, and the need for home-based insurance can make the operation of a home-based business a lousy idea. If your clients need to visit you, this can create conflict with your landlord or other tenants who can get irritated because of the non-resident traffic.

  1. Isolation

Many people who have a home-based business suffer from isolation and being out of the loop. This feeling can be critical for people who have spent much of their career in highly collaborative office areas, and now suddenly, when people switch to an entire home-based career, they have no one to talk to.

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