Business Insight Fact Sheets
Part-Time Home Business
The majority of successful home-based businesses today started off as part-time endeavours.
These businesses have either remained part-time or have expanded into full-time operations.
Regardless of whether a part-time business makes the transition to full-time or not, there are
many excellent advantages to starting one.
A part-time home business can provide an entrepreneur with a financial safety net in the event
that he or she loses an existing job, or help with monthly expenses and building a nest egg.
Below are a few reasons why starting a part-time business is a beneficial and worthwhile activity.
Why a Part-Time Home Business?
Takes Fewer Financial Risks.
Starting a part-time home business requires much less start-up capital than starting a full-time
home business. Therefore, part-timers are able to invest at a more gradual pace and are less
likely to get overwhelmed by quickly rising debt. Many part-time entrepreneurs, in fact, choose to
finance their operations by tapping into their personal savings or by putting profits back into their
business. This way, they are able to avoid taking out small business loans and accumulating
massive credit card debt.
Tests the Market
By starting off part-time, you are able to find out who your customers are, where they live, what
they need, and what entices them to make a purchase before you put your savings on the line. If,
after a while, you find that there is not a good market for your product or service, you can easily
close up shop without feeling the guilt associated with wasting a bunch of time or money. On the
other hand, if your product or service turns out to be a smash hit, you can easily step up
production — eventually to the point where you are working full-time.
Supplements Your Full-Time Income
Although working two jobs may have some detrimental impacts on your social life in the short run,
you can put your business idea to the test without feeling the pressure of not bringing in a re