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A simple home business needs to start on a firm financial and legal ground. Talk with accountants, lawyers, and consultants and tell them your idea for a business. They can tell you which direction to go in some serious decisions. Do you want to incorporate or be a sole proprietorship? What type of inventory valuation are you going to use? How many employees do you need to help make business run smooth? All these questions can be answered by seeking professional advice. And it doesn’t have to be expensive. Check with your local SCORE chapter. There you will find a wealth of advice from area retired business executives,usually for free..
A simple home business has advantages over a business renting working space. But it has limitations as well. If you plan to store inventory, make sure you have enough room to handle both living and business needs. Also, check and make sure zoning laws in your area allow you to operate a business from your home.
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