Welcome to the HomeBiz Kit - an information resource developed by the New South Wales Government (Department of State and Regional Development) to help you grow your business at home.
Home-based businesses make a valuable contribution to the New South Wales economy. According to the ABS, there are around a quarter of a million such businesses in New South Wales, representing the most popular form of business operation.
In recent years, an accelerated emergence of home-based operations can be linked to better technology and trends toward outsourcing and more flexible lifestyles. Apart from the economic value this growth entails, local communities can also gain from social and environmental benefits.
There are unique challenges in being a home-based business operator and the Homebiz Kit is geared towards helping you overcome these among other business challenges.
The Kit addresses all stages of the business cycle and aims to help you to identify some of the factors you should consider before deciding to run a business from your home. It also explains how to go about setting up the business and offers strategies for effective management and growth, should you decide to go ahead.
The Kit consists of five sections: planning, starting, managing, growing your home business and assistance available from DSRD. Links to external website resources are provided throughout the Kit. To access these resources you will need to be connected to the Internet.
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Planning
It is important to plan carefully if you are thinking of starting a business. This section of the Kit outlines the legal requirements involved in starting a business, researching the viability of the venture and introduces you to various options for financing your venture. It also outlines the importance of accessing business networks and what to consider in planning your insurance needs. If you are searching for a business idea, refer to the list of typical home-based businesses, and for those under 25, the Young People in Business page outlines information and ideas relevant to young entrepreneurs.
Starting
This section provides a Business Start-up Checklist and a useful guide to assist you in developing your business plan. It highlights ways to generate business and offers tips on setting up your home operations for a workable business and domestic lifestyle. Although running a business from home can reduce the financial risk of starting a business, it can impact your family life and lead to long work schedules.
Managing
Operating a home-based business, like any business, can be challenging and place many demands on the skills of the proprietor. This section provides information to assist you in better managing your business and increase chances of achieving business success. The business review template will help you assess the current position of your firm. Some business management tips to help prevent and notice the warning signs of failure are designed to assist you in managing your risk and in surviving tough times. This section also includes a brief on finance, information about debt recovery issues and avenues, and some points to note to avoid business fraud.
Growing
This section outlines key considerations and strategies in growing your business. It presents strategies on how to utilise technology and harness innovation in your business. It provides information relevant to the decision to move the business to commercial premises to accommodate expansion. It also provides some guidance on how to attract a larger market share through marketing, advertising and promotion and customer service. Employing the right staff can both accommodate and generate growth, and this section covers some important employment issues to bear in mind. Getting the right advice can also be vital to business success and this section offers some tips on how to get the most from your business advisers.
Government Assistance
This section provides information on the host of support provided by the New South Wales Government for small business operators at various stages of development, including home-based operators and other businesspeople with specific business development needs.
The HomeBiz Kit also includes a catalogue of useful links to aid your online business research.