Women's Business Center Director
West Company
I’m not in business...or am I?
You don’t have to have a retail store in downtown Fort Bragg
to be a business owner. Many people on the coast are “in business” and yet, they
usually don’t know it. However, if you
are making a product, selling a service, or in some way taking money from
someone for something that you do, you are probably in business. There are more kinds of businesses than
people realize. A small side business
that generates a few thousand dollars a year in supplemental income is still a
business and many families on the coast depend on them to meet their needs.
A microbusiness is the most common business on the coast,
which includes self-employed individuals. Microbusinesses have anywhere from
1-5 employees, including the owner and include retail stores, anyone offering
house cleaning, gardening, or handyman services, as well as internet
businesses, and consultants. It also includes crafters and food producers that
sell at craft fairs and farmers markets.
In determining if you are “in business” there is a simple
two-part question to ask: Do you have an employer that pays you for the work
you do? If the answer is no, do you get paid for the work you do? If the answer
is yes, then you are in business.
You should also determine if your business is a “hobby”
business. Does it matter if you make a profit from your business? If it doesn’t
matter than it is not really a business, but actually a hobby, however you are
still subject to all laws, licensing, and permitting requirements as if you
were in business.
If the goal of your
business is to make money to support your livelihood and you need money to
survive, then you are in business and it is important to treat your time and
investment as such.
Starting a business is not difficult. Anyone can fill out
the paperwork at city hall, sign a lease, open a store, and sell something to
someone else. However, starting a successful sustainable business, even one
that seems simple is often more complicated.
There are many details that often get overlooked and can make a
difference between success and failure.
West Company, as host to the Small Business Development
Center and Women’s Business Center, offers a range of free business consulting
services. If you are an aspiring or existing owner of a side business, service
business, or even a small business, there are a number of free resources that
can help you improve your income. For
more information visit www.westcompany.org.