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5 best home businesses for 2011

There's no question about it: today's market is tough. Starting up a business at the best of times can be challenge, and starting up a business with the economy the way it is is a real risk.

But there are ways to minimise this risk. Home businesses usually don't require a lot of capital to start up, and what's more, you can start them in your own time while holding down a regular job.

So what are the best home businesses for 2011? Here are five ideas:

  1. Social Media consultancy firm: Business' can no longer rely on traditional advertising to get the message through to consumers - they need to be actively building and maintaining a relationship with their customer base. This is where social media comes in.
  2. Arts and crafts: There's been a recent backlash against mass produced products. Have you ever visited a new town or city only to discover that they have all the same shops as back home? It's frustrating, isn't it? If you think you could provide something a little different, you could fill a real niche in the market.
  3. Online financial advisor: If you're a qualified financial advisor, your skills are in high demand. These days, everything seems to be going digital. People want to log on to their computers and receive instant, personalised advice.
  4. Wedding planner: Weddings seem to be the one area that Britons are not cutting back on. And that's good news for home based wedding planners!
  5. Child care: You'll need to get qualified and have your home registered as a child care centre, but this can be a rewarding - a lucrative - home business idea.

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