Work At Home Frequently Asked Questions
- What is a work at home business opportunity?
- How can I find out if a work at home business opportunity is legitimate?
- What are the top work at home jobs in Canada?
- What is network marketing?
- How much money can I earn working from home?
- How much does it cost to start a work from home business in Canada?
- Can I get financing for my work from home business in Canada?
- Will I need to incorporate my work at home business?
- Is it necessary to register my business with the Canada Revenue Agency?
- Do I need to charge G.S.T. on my products or services?
- How do I apply for a G.S.T. number?
- Do you have to be a good salesperson to succeed in a work at home business?
Q1: What is a work at home business opportunity?
When it comes to work at home business opportunities, the sky’s the limit. It could be anything from running a personal training business, or a cleaning service, to becoming a top distributor for a multi-national consumer products company. In other words, there’s a business out there to suit every individual’s interests.
Q2. How can I find out if a work at home business opportunity is legitimate?
Start out by checking with your local Better Business Bureau. They offer free online reliability reports on many companies and grade each one accordingly. Another source of information is friends and acquaintances in your community who may have experience dealing with the company. Otherwise, it never hurts to “google” a company or an individual but remember that not all online information is reliable.
Q3. What are the top work at home jobs in Canada?
Some of the more popular home-based businesses are network distributorships for health and wellness products, jewellery, clothing or household products. Other top home businesses include: pet and house sitting services, cleaning services, personal support worker agency, home day care, bookeeping and telemarketing.
Q4. What is network marketing?
Network marketing is a marketing arrangement between independent contractors and a parent company. As an independent distributor within a network, you earn money based on the sales of products or services, as well as sales achieved by bringing new recruits into the business.
Q5. How much money can I earn working from home?
Like anything in life, how much you earn depends on many factors such as the amount of time you are willing to put into the business, your commitment, abilities, market conditions and of course, the business concept itself. Certainly many work at home business opportunities result in a broad range of financial outcomes – some modest and others hugely successful.
Q6. How much does it cost to start a work from home business in Canada?
Again, it depends on what type of business you are planning to start up. If you are thinking about becoming a distributor for a network marketing company, it may cost you as little as several hundred dollars to get started. Other businesses may require a much more substantial investmest.
Q7. Can I get financing for my work from home business in Canada?
If your business requires a substantial investment to get started, the federal government sponsors a small business development loan program that is available through all chartered banks. It provides financing for the asset costs of certain types of new business start-ups and purchases of existing businesses. This program limits the borrower’s personal liability and generally doesn’t require collateral security beyond the assets of the business.
Alternatively, you may wish to consider borrowing money from your banker, secured with your home or some other liquid asset.
Q8. Will I need to incorporate my work from home business in Canada?
Incorporating your business may not be the best business structure if you are only just starting up a home based business in Canada that does not expose you to a high risk of financial liability. It’s best to consult an accountant or the Canada Revenue Agency for complete information.
Q9. Is it necessary to get a Business Number (BN) with the Canada Revenue Agency?
Not all businesses require a Business Number (BN).You only need a BN if you require any one of the following business accounts: GST/HST, Payroll, Corporate income tax, Import/Export, Other. Consult the Canada Revenue Agency to find out if you need to register.
Q10. Do I need to register for a GST number and do I have to charge GST for my products or services?
If you are a sole proprietor, you are required to register for the goods and services tax/harmonized sales tax (GST/HST) only if your worldwide annual taxable revenues are more than $30,000.
Partnerships and Corporations are considered to be a separate entity and must file a GST/HST return and remit tax where applicable. Consult with the Canada Revenue Agency for complete information.
Q11. How do I apply for a G.S.T. number?
You can apply to the Canada Revenue Agency for a GST number online, over the phone or via mail or fax. For more information, click here .
Q12. Do you need to be a good salesperson in order to succeed in a work from home business in Canada?
It certainly doesn’t hurt to be a natural when it comes to marketing a product or service but never underestimate the power of hard work and determination and a sincere belief in what you’re selling. Additionally, any reputable business opportunity will provide you with training tools and a coach/mentor to teach you the basics of getting started in business.
