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The Easiest and Most Affordable Home Business Ideas

New technology, greater time constraints, and emerging family demands have caused the number of small home business owners to skyrocket in the past decade. According to Global Workplace Analytics, 2.8 million self-employed people consider home their primary work place With great ease, men and women from all educational backgrounds can skip the commute and work from the safety and convenience of their own homes. Gone are the days where conversing with people globally was difficult if not near impossible. Staying in contact with others via the internet makes doing business anywhere convenient and easy.

Beyond convenience, working from home can save you major dollars, as you aren’t paying rent for an office space, gas and more. Interested in the work-from-home lifestyle? Let’s talk about how to get started.

Before delving into the depths of self-employment, it’s wise to do some research about the different industries you can work in. Knowledge is power. If you have very little understanding about the way things operate, you’ll be spending valuable time learning about them rather than making money.Start a home business in an area that you know and make adjustments along the way.

So, what types of home businesses pay off? Which home business ideas are the easiest and most affordable to start? The ideal home business has low start-up costs and requires few employees to launch. To help start your brainstorming, here are a few of our favorite home business ideas:

  • Freelance Writing – Depending on your level of skill and knowledge, you can make a career out of freelance writing. Businesses of all sizes require writers to help promote their companies online. If you know how to write blog posts, articles, newsletters, white papers, and e-books, you’ll never hurt for work. Best of all, if you decide to hire additional writers to lighten your workload, you’ll be able to work on your projects of choice. Talented freelancers exist globally. The real cost to freelance writing is tied up in a good computer, Wi-Fi connection, and advertising.
  • Virtual Assisting – Busy executives have enough on their plates to deal with. They often seek out Virtual Assistants (VAs) who complete day-to-day tasks by phone, via email, and through a number of online tools and applications. VAs are often tasked with setting up online calendars, scheduling appointments, and making reservations as well as filing and organizing documents. Like freelance writing, the tools needed to start a VA business are minimal and once the idea takes off, you can look into hiring others to assist you with virtual assisting.
  • Internet Researching and Fact Checking – Many business professionals, scholars, and educators simply do not have the time to do all the research that is required of them on a day-to-day basis. That’s where you can be of help. By taking care of some of the grunt work, you’re providing a valuable service that is always in demand. The key to success is in the marketing that you do. If you have a professional website that emphasizes the benefits of having a researcher and fact checker available, you’ll have no problem attracting new clients.
  • Pet Sitting – If you love animals, you’ll find being a pet sitter is a great fit. Spending time with people’s animals while they’re away on business or pleasure is easy. You follow the instructions that was provided to you by your clients and provide care and comfort to the pets they left behind temporarily. A relaxed atmosphere with access to furry, feathered, finned, and scaly friends provides the perfect setting to do other things online as well.

Starting a home business can require very little time and money if you choose an industry that you know well and that has very little start-up costs. If the aforementioned list of suggestions doesn’t appeal to you, contact your local Chamber of Commerce and the Small Business Administration for other home business ideas. You’ll find their advice valuable when deciding which type of industry you should go into as a new small business.

Meredith Wood

Meredith Wood

Editor-in-Chief at Fundera
Meredith is Editor-in-Chief at Fundera. Specializing in financial advice for small business owners, Meredith is a current and past contributor to Yahoo!, Amex OPEN Forum, Fox Business, SCORE, AllBusiness and more.
Meredith Wood