When considering how to make some extra money at home, there are a variety of opportunities. Many of them are piece-work, meaning you do something like make crafts, stuff envelopes or type documents and get paid a certain amount per item you produce. There’s multi-level marketing, there are home "party" businesses like Tupperware or scrapbooking. You could offer a service like lawn mowing, or bookkeeping... the list is endless really.

What I’d like to talk about is starting an internet based business. You might be wondering what benefits online businesses have over other businesses. What benefits does it have over a brick and mortar store? To put it simply, there are three clear advantages that an online business has over other business models. These three advantages are Potential, Cost and Time.

--Income Potential And Market Growth--

Online business has grown exponentially since the inception of the internet. The growth rate is staggering, as more people spend money online for goods, services and niche market information. New markets are opening up every year and developing countries such as China, India and even Bulgaria are now online and their economies are growing at staggering rates.

As developed countries become more comfortable with the internet, they find an ever growing list of benefits from it. Communication has become easier thanks to social forums, blogs, social media like Facebook and MySpace, and even online dating. This sense of familiarity with all things online has made people more trusting and comfortable with internet purchasing than ever before. In fact the total people shopping online rose from 66 million in 2002 to over 136 million by 2007.

With so many people looking for information and products online, entrepreneurs are able to earn pretty decent incomes while working from home. Some of these businesses are based on the owner’s hobbies, their business skills and all sorts of physical or information products. Even people without their own products are making money marketing other people’s goods, or selling advertising.

The fact is, no matter your current business experience, there is no rival for the potential income and growth of an online business compared to any other business in the world today.

--Low Startup Costs--

If you wanted to start a restaurant, you’re looking at spending between $100,000 to $1 million. To open a store in a shopping centre might be a little less than that. Starting a service business from home, such as a handyman will be between $10,000 to $20,000 for all your tools, advertising, insurance, etc. But starting an online business is somewhere between $1 and $5,000. A website domain name and hosting is only $100 per year. Depending on your level of experience, you may need software, and educational materials. Pretty much everything can be done for free (or close to free) by learning to do it yourself, or you might be prepared to spend some money on a professionally developed website and paid advertising.

The point is, starting an online business is affordable for the average working person, which cannot be said of traditional businesses due to high start up costs and operating costs. A web based business has lower costs all around. Even advertising and marketing expenses are much lower than offline businesses pay.

--The Ability To Work Part Time--

In most cases building and starting a business means taking many risks, which is exactly why many people don't go into business! You may need a loan, extensive experience, employees, and the ability to work the business full time without a backup income, just to name a few concerns.

On the other hand, a home based internet business can be started and established while still working a full time job. It therefore eliminates risk because you don’t have to worry about the mortgage payment; the household income is not threatened. The business can be worked part time from home, and when it is earning enough to live off, you can quit your other job.

If ever there was a time where the initial financial outlay, time, and risk to start a business was the lowest, it is definitely now – and the internet is definitely the platform. No matter your level of experience or subject knowledge, there is a very good living to be made online. So what are you waiting for?... Get started today!