Starting A Business Coursework Example

Name
Professor
Course
Date
Starting a business
Importance of locating a start-up business in an entrepreneur’s home
Locating a start-up business in an entrepreneur’s home is associated with numerous advantages. If an entrepreneur decides to work at home, the individual will save money, which could have been used to research for the best location. Costs will be reduced because the entrepreneur will continue paying the same amount of rent. Working at home is convenient because the entrepreneur will not be traveling to the office (Schaper and Thierry 241). Home-based startup businesses can easily accommodate family lifestyle. In the contemporary society, the existence of technology, especially internet, has made it possible to conduct businesses from virtually any location. By operating a business at home, an entrepreneur can spend more time with friends and family. Many home-based businesses enable owners to be their own bosses and later reap the rewards of their efforts. The strategy can easily get the business up, cheaply and quickly (Schaper and Thierry 241).
Critical items needed by law
Understanding the zoning codes is one of the most fundamental legal aspects. Since the 1990s, municipalities have been using zoning restrictions to determine businesses that could be operated in a certain area. An entrepreneur must find out whether the business in question is allowed to operate within the zone (Schaper and Thierry 243). Every business is associated with a certain tax rate. A home-based entrepreneur must learn about all tax-related issues.

Home-based businesses are also affected by insurance requirements. The entrepreneur will be required to take suitable insurance policies because homeowner’s policy does not cover business activities (Schaper and Thierry 243). The business owner should gain awareness of all business registration requirements. For instance, the entrepreneur may be required to acquire licenses and business permits before starting the business. The owner should have basic knowledge in accounting to assist in calculating and remitting taxes.
Works Cited
Schaper, Michael, and Thierry Volery. Entrepreneurship and Small Business. John Wiley & Sons Australia, 2007.