3 Online Home Based Business Ideas

Online Home Based Business Ideas

Succeeding with Home Based Work is becoming more achievable each year with online tools and solid advice. First, you need to have a strong command of the English language to acquire home based work with a North American company from anywhere in the World. Accompany this with your knowledge of computers and various software secondly, and you are on your way to achieving home based work from anywhere in the world.

The following ideas will help find the home based work you are looking for.

1. Surveys.
Completing surveys is one of the lucrative options you have when it comes to work from home.

Cons: Be aware that not all survey companies are established and trustworthy. A clue would be survey companies that ask for money prior to taking part in their surveys. Another caution would be companies that offer points toward winning prizes as opposed to paying an amount of money per survey.

Pros: Far more reputable companies exist and grow stronger each year. Reputable survey companies do not charge a red cent to send you surveys. These survey sites will act like middlemen, giving a list of market research firms willing to pay cash for your opinions. The best of the best state straight away the amount of money offered and the estimated time to complete the survey(s). Stick with these and you can make legitimate cash ongoing as they store your data, making it quicker each time to complete the survey. Once you are established in their database, they will email you when new surveys become available. (this can be several times per day)

2. Freelancer Writer.
Numerous websites offer a landing place for you to start your freelance writing career.

Pros: A freelance writer works whenever and wherever they wish. In fact, a freelancer is their own boss because they bid on the home based work that interests them and work whatever time of day they wish. One of the best things about freelance websites is that freelance writers do not need a Bachelor’s or Doctorate degree to get work in such sites; however, writers with higher education are very welcome varying on the topic. The freelance writers with the higher education and the strongest grasp of the English language can earn higher fees by their education and skills ranking their writing higher. If you can write well in English, you can start writing articles.

You can easily make some cash writing and often payment options are really flexible. The most efficient companies will pay you weekly, or on the 15th and on 25th every month. These website are serious and may be an option you wish to consider when deciding on home based work. There are many categories and a multitude of articles at all times.

Cons: Initially, you may only be allowed to write one article every 40 minutes, but companies will erase this limitation when you get a few reviews. Elite writers, as described in the above paragraph, make the most money, according to the company’s rating system.

3. Video Creation
Get paid to create videos as home based work.

Pros: One of the best things about these website is that many video creators are paid per video view. This area of income generation has grown huge over the years and there are a multitude of opportunities!

Your Business Can Access Working Capital

The number one reason that businesses fail is due to insufficient capital (they run out of cash). According to Bloomberg 8 out of 10 business owners fail within the first 18 months. Another 50% fail in the first 5 years. Other reasons businesses fail include; lack of experience, bad location, entering over saturated markets, over investment in fixed assets, unexpected growth and poor credit arrangements. Let’s add one more to the list; not knowing where to go to access working capital.

Most businesses owners invest their own personal money to keep the business going. Some will go to friends and families. Some will try the bank. But if you don’t have a lot of assets to pledge, a proven track record, a good credit rating or are not yet profitable, the chances are the bank is going to turn you down. So where do you go to get a loan to take your businesses to the next level?

There are private companies that will provide a loan to a business that has daily cash flow, as long as some basic requirements are met. A business owner does not have to pledge assets or have a great credit rating. There are viable financing alternatives, to receive business funding that are not considered loans. Business funding programs do exist where you are not required to pledge assets, have great credit or a long proven track record. A word of caution, do not expect to get the same rates you would get from a bank. These private lenders are taking on more risk than a bank, so a higher return on their investment is expected. Some of the available business financing options include, a Merchant Cash Advance, a Small Business Loan, Purchase Order Financing, Invoice Factoring and Supply Chain Financing.

Merchant Cash Advance

If your business accepts credit cards and debit cards there is a program called a Merchant Cash Advance that has very high approval rates. A business owner does not have to sign personally or have good credit. A Merchant Cash Advance is not a loan but rather a purchase of your future credit card / debit card receipts. The advancer will buy a future amount of credit card receipts / debit card receipts at a discounted rate. A small portion of a businesses daily sales will be taken by the advancer until the amount is re-paid. Typical payback is 6 to 10 months.

Small Business Loan

There is a small business loan available for business owners. The lender is more concerned about a company’s daily cash flow then about credit ratings and the ability to pledge assets. The business owner does not have to sign personally. This small business loan has very high approval rates, with some basic requirements for funding. The lender will take a small fixed amount of daily sales until the loan is repaid. The term of the loan is one year.

Purchase Order Financing

Has your business been working on landing a large contract? Congratulations you just received that long awaited purchase order. As you admire your new conquest you see some small print with the words Net 30, 45 or 60. Your business may have a cash flow issue. Vendors and payroll may have to be paid before you receive payment from your customer. If your business does not have enough available working capital or access to working capital to wait to get paid before you have pay your vendors and staff then what do you do? If your purchase order is from a reputable company then your business may be able to receive a cash advance against that purchase order. The purchase order itself is a legal agreement to purchase a product or service from your company. A lender will know that the customer will pay as long as you fulfill your end of the contract and advance you enough money to ensure you meet your contractual obligations. A lender will be concerned with the customer’s ability to pay, and your ability to fulfill the contract. They will not be as concerned about a businesses credit rating or the pledging of additional assets.

Invoice Factoring

A company can be profitable and still go out of business due to poor cash flows. What a profound statement. A cash flow gap can be created when a customer pays slower than a company has time to pay its employees and vendors. The company is waiting for customers to pay before it can pay its own expenses. This can be a very serious situation and cause a profitable company to go out of business. Fortunately there is an alternative financing solution called Factoring of Invoices.

Factoring invoices is a business financial transaction where by a business sells its accounts receivable (invoices) to a lender (factoring company) at a discount. For this type of business financing there are three parties involved. One is the company that provides the service or goods to the customer, two is the factoring company that will provide the company with an advance, and three is the end customer that received the goods or services. When the company provides goods or services to the end customer an invoice is created. That invoice is then purchased by a factoring company at a discount. The factoring company will advance the company a large portion of the value of that invoice.

The end customer will then pay the factoring company directly the value of the entire invoice. When the end customer pays the invoice, the factoring company will send the remaining amount of the invoice minus a small fee to the company that factored the invoice. Consider the following scenario: A company completes a service or sells goods to an end customer that typically takes 30 days to pay. Almost immediately after the transaction happens a factoring company will advance the company a large portion of that invoice. The company now has most of its funds available, almost immediately, to pay it’s suppliers, complete payroll or what ever else they would like to do with the funds. Once the end customer pays the invoice the remaining amount is forwarded to the company minus a small fee. Factoring of invoices can help out tremendously with cash flows, especially if a company is in a growth period. Factoring companies are not as concerned about the companies credit rating as they are more concerned about the customers ability to pay.

Reverse Factoring or Supply Chain Financing

This method of business financing is much like invoice factoring. The difference is, traditional factoring is when a supplier chooses to factor the invoices to their customers but with reverse factoring or supply chain factoring, the customer initiates the factoring to help their suppliers to finance their receivables. Reverse Factoring or Supply Chain Financing can be an effective way to improve your cash flows. The benefit to both parties is that the company providing the goods or services can get the outstanding value of their invoices paid very quickly and the ordering company can delay the payment of the invoices, thus improving their cash flow position.