Pitfalls Of Free Home Business Opportunities

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Free home business opportunities offer an exciting way for people to experience working online and are especially useful for those who are new to online business and looking for ways of earning a little extra money.

Is it possible to make your fortune using free home business opportunities? Well, the genuine response to that question is no, but it is possible to still have fun whilst buffering your bottom line.

How Much Can You Earn?

The amount of income you can expect to generate from starting a business from home isn’t going to be large. The fact is, when you begin it is going to take a while for you to even get offered jobs. If you look at your business as a method of earning a little extra money that can supplement your main income and go towards car loans or your mortgage then you will find this is a very rewarding business to be in.

Free home business opportunities are quite simple. Some of the most common are referred to as surveys. The amounts of money you can earn is dependent on a number of aspects such as where you live, your age, your sex, and your personal preferences.

Once you start to complete online surveys for a set period of time it is quite possible for you to be generating between $100 to $1000 a month. You need to keep in mind however, that reaching four figures is going to need a lot of patience and a lot of surveys.

How Much Do You Pay?

You pay nothing to complete surveys. The companies who conduct these surveys are after your opinion on how they run their business or on their products. You are not the one seeking information from them and therefore you don’t pay a thing. Never pay money to complete a survey as that is not normal practice. Why look to earn extra money when you are spending your own money in return. It doesn’t make sense.

Be very careful of companies who charge for information on paid online survey websites. The fact is that you can obtain identical information for nothing online.

How Much Information Should You Give?

This is a bit of a grey area. If you give up too much information when you sign up you put yourself at the mercy of scammers. You would do well to stick to key information such as your location, age, and sex. These details are fairly safe and mean that when the surveys are sent out and matched to your demographics you’ll get some work.

You should never give up personal information and always be on your guard for companies requesting any financial information from you. This is not required and you should steer well clear of any company asking for this kind of unnecessary information.

Free home business opportunities have received bad press over the last few years and there is a good reason for this. Unfortunately, genuine programs have been bundled in with the scams and not so genuine opportunities, but if you have enough patience you can make yourself a nice amount of extra money.

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Government Programs can Help with Home-based Business Financing

Image via WikipediaYou’ve got the idea. You’ve completed the business plan. You’re one step away from your dream of working out of your home. The only thing left to do is find financing for your home business. In a time when securing a loan is difficult, it’s best to be armed with the most information possible…and from a source you can trust.
Like in any area, home business financing if rife with people who have more interest in their own bottom line than in yours. How do you find objective information you can trust? One first step is to check out the resources at www.business.gov. Business.gov is managed by the Small Business Administration, along with 21 other federal agencies. It’s a partnership, dubbed Business Gateway, that “provides a single access point to government services and information” to help businesses.
As Business.gov notes, Apple Computer, Hershey Chocolate, Mary Kay Cosmetics and Ford Motor Company all started out as home-based businesses. And at one point or another, they all needed financing or financing information. In addition, the site also “provides resources that will help you learn more about working out of your house, starting a home-based business, and managing your business within the law.”
Something you may not know is that the federal, state and local governments often provide access to a variety of financing programs to help small businesses, especially those that cannot qualify for traditional small business loans, such as home businesses. Business.gov has a loan and grants search tool to match financing programs with your business.
The government, whether it is federal or state, does not make the financing agreements directly with business owners. What they do is provide a guarantee to banks and lenders for money they lend to small businesses. This reduces the banks’ risk, and that allows financial institutions to make such loans with a degree of confidence.
Business.gov suggests starting with local institutions and local nonprofits.
As with anything, you have to be careful of scams and disreputable lenders. This is especially the case in this tough financial market, when loans of any kind are more and more difficult to obtain. Desperation creates a fertile ground for unscrupulous lenders and scam artists.
Here are some things to be wary of: If a company demands any kind of “membership fee,” this is a red light that this lender should be avoided.
Even if you’ve gotten rejected time and time again, avoid the temptation to get a loan for an interest rate that is significantly higher than the going rate. On the other hand, you should also be wary of is someone offering a lot of money for a ridiculously attractive rate. Chances are they’re after something other than lending you money. Never get a loan from anyone who requires even the smallest “investment” in another company. There are too many legitimate lenders out there to fall in with a bad lot. While all loans do require certain fees be paid, be wary of any lender that requires large fees, in the range of thousands. According to www.allbusiness.com, these phony brokers promise low rates and instant approvals when what they really want is your bank information and social security number for an identity-theft scam.
Always listen to your gut instincts, and if you cannot do that, give the Better Business Bureau a call.

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