Almost a third of British workers run some kind of creative business outside their main job contributing an estimated Β£15bn to the UK economy, according to new research from Moo.com. Profitability among this group of enterprises has increased by 32% in the past year. One in ten part-time creative entrepreneurs plans to leave their job to focus on their business full-time within the next year. However, 60% said it was their passion for the business, and not making money, that motivated them. The most popular part-time creative ventures are in food and cooking, gardening, photography and knitting. (According to Law Donut)
So why are micro businesses taking off:
- You can start off working at home
- Your start up costs are low
- You can do it part time when it suits you
- With wages frozen and costs rising it can provide a useful additional income
- Its easy to be price competitive with low overheads
- The Internet makes it easy to sell your goods and services
- Your social capital can be used to generate sales ie use your contacts and connections
- There could tax advantages β employees generally pay more tax than sole traders
- Some clients prefer the personal touch
- It could be start of something big
Here are my top 20 home based business ideas:
- Get a lodger β Under rent-a-room a taxpayer can be exempt from Income Tax on profits from furnished accommodation in their only or main home if the gross receipts they get (that is, before expenses) are Β£4,250 or less
- Ironing and Laundry Services β Always popular and you can start with friends and family
- E Bay Trading β as E Bay sayβ¦ The first task is to sort through those bulging drawers and messy cupboards, finding stuff to flog. Get a big eBay box to stash your wares in, and systematically clear out wardrobes, DVD and CD piles, the loft and garage. Use the easy 12-month rule of thumb to help you decide what to offload: Havenβt used it for a year? Flog it.
- Blogging β Blogging has taken off and many businesses are looking for people to write blogs for them
- Candle Making β You can sell the candles on line and its easy to buy the wax and things you need to make the candles
- Car Boot Sale β As with E Bay but without going on line
- Cake Making β Make sure everything is labelled correctly and you comply with Health & Safety issues
- Data Entry β The internet makes it easy to enter data from where ever you are
- Social Media β Similar to blogging, businesses need help to manage Twitter, Facebook and Linked In
- Website Design β If you have the expertise, go for it
- Sales Parties βΒ Cosmetics to Ann Summers, there is a long list of opportunities
- Sewing and Clothes Alterations β Perfect before and after Christmas
- Jewellery β Making and selling jewellery is always popular and great for Christmas presents
- Car Repairs β Assuming you have the skills needed and comply with legal requirements
- Pet Care β Walking dogs or grooming is popular
- Virtual Assistant β Also personal organiser or personal shopper
- Wedding Planner β You could start by creating a blog about your expertise
- Direct Sales β For example http://www.netmums.com/back-to-work/working-for-yourself/direct-selling-opportunities
- Computer Repair β Great provided you have the skills
- Marketing β Telesales to leaflet design and freelance writing
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steve@bicknells.net