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Hmrc Change Details Self Employment Article
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The Demographics of Self Employment as a Home Business
from:Among those friends and family who are still toiling away at their regular nine to five jobs, you will undoubtedly hear a great many reasons why self employment and home businesses opportunities are not for you. It is important at the very earliest stages of your journey into being your own boss that you listen to all opinions and then, carefully consider the source.
While those who would continue in the relative safety of “regular” employment undoubtedly have good reasons for wanting to continue with their current positions, you can be certain that while they're not willing to shoulder the creative risk taking that self employment and home business opportunities require, they will never be in a position to reap potentially significant entrepreneurial rewards.
Though the figures on part time self employment are somewhat sketchy, it is estimated that nearly 40 million people are involved in self employment or home business opportunities, many of them women and minorities. That's nearly 20 million home businesses that are providing people across the sociological spectrum an opportunity to make their own decisions and divide the profits as they see fit.
Given that research has shown that income disparity and a high unemployment among sociological groups leads to higher levels of self employment and home business creation, it is no wonder that these sectors have seen the largest increases since the initial upsurge in self employment / home business numbers, as collected by reputable research organizations and the US Census (though their figures vary by more than 20%), in the mid-1980s.
It is very common, for instance, for women who are stay at home moms, to begin a home based business whether from an existing opportunity or some great idea they've had themselves. Either way, there are unique challenges to trying to put the requisite time and effort into a business venture when your primary job is screaming away. It certainly makes phone calls difficult. As such, many women who get into home based businesses do so on a decidedly part time basis, at least at first.
With the advent of on line technology and unprecedented interconnectedness, many people are finding that they can handle enough sales and marketing from the comfort of their own homes that the more traditional routes of finding retail locations for goods and services is not necessary. As such, even smaller home businesses can come to market with an absolute minimum of up front costs.
When embarking on self employment as a home business opportunity be sure to consider just how much time you can realistically devote to the operation. Don't forget to include the significant amount of time you'll be spending on the marketing end of things, and you'll have a far better chance of success than someone who didn't.
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