To facilitate economic development and foster entrepreneurship, many types of businesses can operate from a residence. Property and liability insurance is important to home-based businesses to protect against loss or damage to your business property and equipment (such as computers), as well as protect against claims due to accidents or injuries to customers, clients or others who may visit your home in order to conduct business.
I’d suggest looking at online business opportunities first – things like setting up a niche website, blog, or building guides and courses to teach other people the skills you have – since you’ll be able to more easily work on something of that nature during the nights and on your day off from work.
It can be less expensive than renting or buying commercial space, there may be possible tax deductions you can claim, (for example, a portion of property taxes, utilities, repairs and maintenance, home insurance and a portion of your mortgage interest or rent) and you may have more flexibility with your hours.
Thanks for the swift response, yeah from the pros and cons it would seem that given my financial position having just graduated, the most viable business idea at this current moment would have to be the tutoring business due to minimal costs required, i will keep you updated hopefully as i conduct further market research into the tutoring market everything will become clearer.
But, as you identified, if you do want to start a business – choose the right one for you, and that’ll make it as easy as possible for you to cut down on the learning curves because you already have the strengths and skills you’ll need to be successful.