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Home-based business

The idea of working at home appeals to many people, but before you decide to start a home-based business, there are a few things to consider. Launching a business in your home could be ideal, depending on the space you require and the nature of your work. You should make sure that this arrangement suits both your personal and professional needs.

You may be drawn to the advantages of working from your home. After all, it is cheaper than renting more space. You may also be able to claim tax deductions when you use your home as a place of work (for example, a portion of property taxes, utilities, repairs and maintenance, home insurance and a portion of your mortgage interest or rent). You could avoid a commute and perhaps be able to set flexible working hours.

However, running a home-based business is not for everyone. Ask yourself a few questions to determine whether having a home-based business is right for you:

When you decide you are ready to launch your home-based business, these suggestions might make the process easier:

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