Archive for the ‘Finances’ Category
Home-Based Business
November 17th, 2009 | 
Author: If you have elected to have a home-based business, restrictions may not permit you to get a business license to operate in your city. You may be forced to move your business outside the home or operate outside of the law. If your family happens to be moving and you are a seasoned entrepreneur, you may wish to select your home partly on the basis of whether or not that city’s ordinances will allow you to operate your business – or any business – out of your home.
If you are thinking of living in a planned community, don’t forget to check into any restrictions that the association may have that relate to business use of your home. Even if the city will allow you to operate your business, the association may preclude that option.
The passage of the Model Zoning Ordinance did much to help protect the legalities of working from home. However, different types of businesses may be subject to special restrictions by the city or county. For instance, a mail-order business may be allowed in your home, but a direct-sales operation may be prohibited. Repair services may be allowed, but only if they do not involve the use of toxic chemicals. Food services will probable be disallowed, but the city may allow you to use your home as an administrative office for your business.
In most cities and planned communities, home-based businesses are not permitted to change the appearance of the neighborhood and, therefore, you may be prohibited the use advertising or equipment that can be viewed from the street. Very often, police or fire inspections will be conducted to see that your business does not violate any of several restrictions. Doing some diligent ground work ahead of time may eliminate the possibility of selecting a business location only to find later that it was not an appropriate and/or legal choice.
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Is it Right for You?
One of the fastest growing markets in the United States is the home-based business. It’s interesting to note that one in four businesses located in an office or industrial area started in the home, including such well-known companies as Mary Kay, Hershey, Hewlett Packard, Lillian Vernon, Ford, and Apple. It has been estimated that more than 32 million Americans are self-employed and working at home. This does not count those who were doing so on a part-time basis while holding a “regular” job. Part-time self-employed home workers numbered an additional 1,000,000+.
Home-based businesses span a wide range of occupations and industries. One multi-state study conducted by a team of university-based researchers found that the top five occupations were marketing/sales (24%), contracting (15%), mechanical/transportation (13%), services (12%), and professional/technical (12%). Other studies yield varying results, but they all indicate that home businesses represent a wide range of occupations and industries.
The trend toward home-based business has occurred for several reasons. The advent of the electronic age with its computers, fax machines, copiers and other office technology has made it possible for almost every family to start a business from home. Job insecurities and layoffs have forced white-collar workers to pile out of corporations. Many of these displaced middlemanagement people have taken their skills home and translated them into viable businesses run from their home offices. The trend toward home-based business has also been impacted by economic considerations such as eliminating rent and utilizing other home-office deductions. As an additional bonus, having a home-based business has allowed parents to stay home with their families and addressed elder care and parental leave without added costs.
Home-based businesses can be very successful. They can also turn into disasters or, at the very least, unproductive semi-attempts at dabbling at business. In order to help you get off to a good start, we have devoted this chapter to some of the most important considerations that will contribute to the success of your home-based business.
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Posted in Admin Notes, Company, Finances, Rules, Service | 
Tags: Is it Right for You? | 
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Commonly a Non-Profit
What needs will my organization fulfill in the community? Who currently provides similar services in the community (competition)? What competitive advantages do I have over existing non-profit organizations? What will I do to create demand for my organization and sustain operations?
As you would need to start a for-profit business, you will need start-up finances. The capital will enable you meet your start up expenses as well as help you to obtain professional services such as legal and accounting. You will want to seek legal assistance to incorporate into a non-profit entity. The professional you use will also help you draft a set of corporate bylaws, which will serve as the procedure that the Board of Directors, and possibly the members of the corporation, will utilize to make decisions on behalf of the corporation. Once you have drafted you bylaws, you will hold an organizational meeting to formally create the non-profit corporation. At this meeting the bylaws should be adopted, the Board of Directors should be elected, and all other relevant business should be conducted.
Before developing your non-profit organization, ask yourself the following questions. Do I have the necessary skills and experience to operate a non-profit organization? What managerial and financial resources do I have access to? Who will make up my Board of Directors? Where will I locate my organization?
