Is this a good idea for a home business?

Question

I am qualified in accounts and I know both MYOB and Quick Books. Would it be a good idea to start a home business where I manage accounts using the computer program of their choice? And if so, how should I charge for the service?

Answer 1

Elle,

Where are you based?  I presume Australia as you have mentioned MYOB.

I suggest you contact some bookkeeping associations like the Institute of Certified Bookkeepers or the Australian Bookkeepers Association they will provide you with a lot of support starting your business.

I am not sure what 'qualified in accounts means'?  Does this mean your are Tax Act S251 compliant?

Answer 2

Well, it depends - you really have to look at if you can manage the business... This means that your electricity bill will be running up a bit b/c you will practically be on the computer 24/7. Make sure you have a budget for that monthly. I think it is a wonderful place - to start from your home! You always have to start small to end up big but for your last question... You should do some research about how much you should charge. Look at your competitor's prices and see if you can afford it being a bit less or adding a bit more service for a good price... Good luck with that! :-)