A home-based business will save you money but be sure to consider all aspects of the business. What impact will your business have on your family? What impact will your family have on your business? Will you be constantly disturbed? If you need to project a professional image, you can’t have children running around or dogs constantly barking.

Also consider the impact your business will have on the neighbourhood. Doing IT for clients won’t pose a problem for anyone. But endless cars coming and going, customers streaming in and out, unacceptable noise, unpleasant odours, parking problems and other factors could cause complaints to be registered against you and force you to relocate your business.

The equipment and supplies you need are a major part of your start-up budget. You do not want to blow your entire start-up budget through not thinking this through carefully and simply buying everything you think you might need. You also don’t want to start your business and then realise that you don’t have the right equipment and supplies – and now you do not have the money to buy them.

For these reasons, list everything you will need to run your business – right down to the folder you will keep receipts in. And make sure you list the stuff you already have, such as your cellphone, and the coffee mug you are planning to bring from home.

No matter how small your business, if you’re looking for funding then buying brand new equipment and supplies is out of the question. You need to be creative and resourceful. You will be absolutely amazed at how much you can get without spending a lot of money. Funding is tough to acquire. When you approach investors for funding you will make a very positive impression when they see that you are thrifty and responsible.

1. What do you already have that you can use?

If you scratch around at home you might source a lot of stuff that would otherwise take precious funds to buy.

2. Buy used and shop around for the best prices

You can get excellent deals at second-hand shops, on Facebook pages and online. And it never hurts to bargain.

3. Reuse, repurpose and recycle

These days turning old stuff into new is the way to go! There are literally hundreds of ways you can reuse, repurpose, and recycle:
 

• Restore old furniture with a few repairs and a lick of paint
• Other old furniture can be repurposed, such as painting old drawers and hanging them on the wall for display or storage
• Pallet furniture can be stunning! Pallets cost next to nothing and with a little creativity can be turned into amazing shelving, chairs, display tables etc.
• Repurpose items such as crates, wooden boxes, etc.
• Building sites usually have tons of materials that they send off to the dump.
• Big businesses often have old stuff lying in the back that they would love you to take away turn into something useful.

 

4. Ask around

Ask family and friends if they have anything they would be willing to donate to your business. See if any businesses might be interested in donating items

Now that you have sourced as much as possible, list all the equipment and supplies you will have to buy. If you have been very resourceful the list should be reasonable. If it’s a very long list, rethink the above step.