| Internet businesses being run from home are booming… and they are set to expand in coming years as fast economically growing countries come on board to a much larger extent. "Making tons of money in a home based business is not the only reason record numbers of people are starting home based Internet businesses. Home based business owners are finding a secondary benefit to owning a home business that is resulting in thousands of dollars in saved income taxes." - Stone Evans, PluginProfitSite. So what is so good about an internet home based business? What benefits does such an online business have over any other business? What benefits does it have over a traditional "bricks and mortar" type business? What benefits does it have over any other type of home based business, such as a multi level marketing business or a lawn mowing business or an accounting business? Simply stated, starting an internet or home based business has three very clearly defined advantages which then lead to further benefits of which can not be obtained with other businesses. These three advantages are…. 1. Potential income earnings and market growth 2. Low initial monetary outlay or business setup costs. 3. The ability to work on your business part time. Potential Income Earning and Market Growth... Saying that business online has grown rapidly since inception of the internet, is not only a fact but also an understatement. Constant news of increased spending online litters the news on a weekly basis, more people buying a much wider variety of goods, services and niche market products. Additional markets that were not present on the web five years ago are now not only opening up but expanding at huge rates. Countries such as Chile, China, India and even Bulgaria are now online and their economies are growing at staggering rates. China and India would have to be the prominent leaders to date with their economies currently growing between eight to ten percent per year! Such figures are shown through increases of people subscribing to internet services and companies expanding their digital networks. Many people in these countries now wish to have all the benefits that we in the west have been experiencing for many years. The house, the car, the TV, the microwave, the computer and the internet and all the benefits that such technologies can bring, not withstanding status within their given society. In addition, our own society has become much more familiar with the internet and the many benefits it brings. Expanded communication with friends and family, social forums and discussion lists on all sorts of topics, even dating is now a huge industry online. This familiarity is now facilitating a trust of all things internet related and thus people are turning to purchases online with much less trepidation than years gone past. And to put that in dollar terms, online spending has risen from $41.2 billion in 2002 to $79.2 billion in 2005 with increases expected to continue. [http://www.infoplease.com/ipa/A0921857.html] Total people shopping online have gone from 66 million in 2002 to an estimated 136 million in 2007. The fact that people are looking for such a wide variety of information has allowed thousands of solopreneurs working from home to earn more than better incomes. Incomes are being made from people offering information on their hobbies, their current business skills and many other tangible and intangible products. Even people without their own products are bringing in profits by selling other companies goods and services, or even just selling advertising. The potential for already established offline businesses is also huge. A good example of this is the tourism industry whereby most of the major players such as airlines, governments of major tourist destinations and some major hotel chains have been quick to capitalize on internets growth. However there are a staggering amount of businesses of varying sizes that are missing huge opportunities to substantially increase customers and profits by developing and marketing their business online. This includes hotels, restaurants, clubs, sporting, leisure and health services just to name a few. The fact is, no matter your current business size – online or off, your current experience with business – a lot or none, whether you wish to have a business working from home or start with an office, there is no rival for the potential of income or growth in any form in the world today. Low Initial Monetary Outlay or Business Setup Costs... Cost to start a restaurant? $100,000 to $1 million. Cost to setup a shop in a major shopping centre? Maybe a little less than the above. Cost to start a service business from home, say a carpenter? All your tools, advertising and insurance plus many extra's, maybe 10 to $20,000. How much to start an online business? A website (domain name) and hosting - $100 dollars a year. However, if you have no experience with the internet there will be additional costs such as learning materials and additional software. All up you may spend anywhere between 1 to $5,000. The fact is, the experimentation and implementation of an online business or web based business is affordable for the average working person, something that cannot be said of traditional business due to the usual immense start up costs. Even the running costs of an internet business are so little compared to traditional costs. Then there are the advertising and marketing costs to consider, much lower than what offline business pays and something that they are even yet to fully comprehend. The Ability to Work on Your Business Part Time... I have left this section to the last, why? It represents why many people don't go into business…. risk! In most cases building and starting a business means taking many risks. A loan may be required, extensive experience in your business field, applying yourself to the business full time without backup income or another job, putting on employees and the list goes on. An internet home based business can be started and established while still working a full time job. It therefore eliminates risk from your daily life. The mortgage payments, the kids schooling, the income to the house and your current lifestyle are in no way threatened. The business can be worked on part time from home, at the point that it establishes enough income to live off; your full time work can then be terminated. If ever there was a time where the initial outlay in terms of money, time and risk to start a business was the least, now is that time and the internet is the platform. No matter your experience or subject knowledge, there is money and a very good living to be made online whether you are an established business or wish to build an internet home based business. Will you be grabbing your share today? |
Many Benefits of Starting an Internet Home Based Business
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