With $10,000 in available capital, a person can start a home business related to expert consulting or speciality services. These types of businesses do not require significant capital assets, meaning there are no significant costs to incur at inception.Continue Reading
Expert consulting can range from computer consulting to income tax preparation. Academic tutoring and music instruction are additional examples of consulting businesses that can be managed from a home office. This type of business requires little capital investment, as the initial asset is the individual. With this type of business, a person bills out hours based on time dedicated to a particular project. An hourly rate is agreed upon between both parties, and then billings occur at different stages of the project completion.
Professional services are an additional option for someone seeking a home business venture. Landscaping, delivery and house-sitting are just a few examples. These businesses may not, however, allow the opportunity to be at home during all businesses hours. For instance, a landscaper may be required to travel to multiple locations to complete various projects. Professional service businesses may require a small initial investment, particularly if equipment needs to be purchased. Regardless of the type, a specific business plan, which includes budgeting and forecasting, should always be considered before executing on the idea.Learn more about Managing a Business