{"id":13149,"date":"2020-03-13T23:17:56","date_gmt":"2020-03-13T17:47:56","guid":{"rendered":"https:\/\/www.instamojo.com\/blog\/?p=13149"},"modified":"2023-05-18T14:22:25","modified_gmt":"2023-05-18T08:52:25","slug":"how-to-run-small-business-from-home-tips","status":"publish","type":"post","link":"https:\/\/www.instamojo.com\/blog\/how-to-run-small-business-from-home-tips\/","title":{"rendered":"Running a small business from home: 5 professional tips"},"content":{"rendered":"

Over 50% of small businesses today are based out of home. Why? Running a small business from home means better tax incentives, saving money on the commute and renting an office building. Even better, you get the liberty to work in your own space.<\/p>\n

But running a small business from home is not for everyone. Many still prefer or are accustomed to the hustle and corporate feel of an office, because home is for other activities like rest, family time and TV.<\/p>\n

So, if you are working from home during this tough time, do not worry.<\/p>\n

Benefits of runnings a small business from home<\/h2>\n

Before we head to the tips on running a small business, let us reassure ourselves on why this is a good idea.<\/p>\n

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  1. Time-saving<\/strong>: If you, like many city dwellers, spend a ton of time sitting in traffic. The average commuter spends over 10 hours per week in traffic. Running your own business from home saves you the time you could otherwise spend meeting vendors or network.<\/li>\n
  2. Cost-saving:<\/strong> Pretty obvious right? When you start your own business, it is advisable to test run it from home, or any space of your choice for a few months, before you rent out an office space.<\/li>\n
  3. Less Stress:<\/strong> With the right organisational schedule, you will feel less stressed about what\u2019s going on at home, if you learn to balance work and home responsibilities out of a common space.<\/li>\n
  4. Tax benefits:<\/strong> You can deduct a part of your home\u2019s operating and depreciation expenses on your home as business expenses. This can be a percentage of your mortgage, property taxes, insurance, utilities, and\/or the expenses of household maintenance.<\/li>\n<\/ol>\n

    Tips to run a small business from home<\/strong><\/h2>\n

    Bank on low-cost online software:<\/strong><\/h2>\n

    If you are saving money on personnel when you start your small business from home, invest it instead into your online management tools. For example, let\u2019s say you have a home business, you still need a team to help you, or in this case tools.<\/p>\n

    For accounting – Profitbooks<\/strong><\/h4>\n

    Profitbooks<\/b>\u00a0is a\u00a0simple cloud computing accountancy SaaS tool<\/b>\u00a0that helps you create custom invoices, manage inventory and track expenses without having any accounting knowledge. Your small business must keep track of planning, budgeting, forecasting, core accounting, billing, and invoicing, and time tracking.<\/p>\n

    ProfitBooks<\/b><\/span>\u00a0is a fast-growing tool<\/b>\u00a0and simple to use. It lets you create beautiful invoices, track expenses and manage inventory without any accounting knowledge.<\/p>\n

    You can easily share the transaction data with your\u00a0accountant\/vendors.\u00a0<\/b><\/p>\n

    P.S:<\/i><\/b>\u00a0If you are curious to know more about accounting, you are in luck. We conducted a LIVE webinar recently with the Co-founder of the company! If you want to know a little more about accounting, before you invest in the software, watch the video.<\/i><\/p>\n

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