Start Your Own Business With State Assistance

05Aug10

Ever consider working from home?  For some, starting a home-based business is becoming more of a reality rather than just a dream.  Home-based businesses generate thousands of job opportunities daily and are estimated to bring in an annual revenue that exceeds $400 billion.  In fact, if you are lucky enough to be living in one of several states that have assistance programs for start-up business owners, you may be able to make the home-based business dream come true.    

Called the Self-Employment Assistance Program, certain states are providing an allowance to those who have lost their jobs and are interested in starting his or her own business.  To date, states that are participating in this assistance program are: Delaware, Maine, Maryland, New Jersey, New York, Oregon, and Pennsylvania.  Individuals must meet certain guidelines including first being “eligible to receive regular unemployment insurance under state law.”  Thus, for those who qualify instead of searching for a salary or hourly job, they are able to concentrate on starting a home-based business!

Just remember to consider the downsides of having a home-based business.  Things to consider include: work/home balance, loneliness, long hours, low pay, and health care coverage.  Understanding what to expect upfront, individuals can plan how to deal with these obstacles.  For example, as much as some of us may think otherwise, being in an office environment allows for socialization and camaraderie.  To combat periods of loneliness, consider regularly going to an internet cafe or attending networking meetings with others who are also self-employed.         

Have you thought about a home-based business and if so, what would you like to do?  If you already have a home-based business, any advice to those who want to start their own?

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