What kind of businesses do people run from their home?
| Pros | Cons |
|---|---|
| I make my own hours. | I work long hours. |
| I decide on my own rate of pay. | My income is not predictable. |
| I do my own performance evaluation! | I have to arrange my own benefits or gamble that I don't need them. |
| I am doing something I love to do. | There is more pressure to produce. I don't produce, I don't get paid. |
| I control my life. | I have no structure unless I set it. |
| No day is the same as the day before. | I feel alone sometimes. |
| There are attractive tax benefits. | I could lose everything. |
Can you think of other pros and cons? Take a short on-line quiz to see if you fit the profile of an entrepreneur: http://www.mazemaster.on.ca/selfemployment/traitsselect.htm
If you have the desire and the entrepreneurial traits needed to be self-employed, there are options to take a look at. There are several types of business that fit the self-employment model:
What kind of businesses do people run from their home?
If you see yourself as a small business owner/operator there is a sequence of steps to follow:
Step 1: Develop an idea or find a business opportunity.
Step 2: Find out as much as you can about Business start-ups.
Step 3: Find out about the sector or industry you want to become a part of.
Step 4: Research the demographics of the community in which you want to open your business.
Would you open a bookstore on a street that has Indigo Books? Or open a small grocery store next to Loblaws?
Step 5: Develop a Business Plan.
Step 6: Find and research funding sources.
Step 7: Identify areas in which you need training or support.?
Reflection
Most of Canada's businesses are very small. In fact, only .2% of companies in Canada have over 500 employees. WOW!! Companies that have 5 or fewer employees account for 78.2 % of all the companies in Canada.
Does this give you more confidence in becoming self-employed, or less confidence?
Still interested? There is an excellent on-line Small Business Workshop you can complete at http://www.sb.gov.bc.ca/smallbus/sbhome.html