Sage One

Online Business Current Account

BusinessOnline offers a range of payment services whenever it suits you, wherever you are. Transactions can be made on an individual basis or via batch instruction, and a variety of sight and value options can be selected. Specific payment options are available, such as Standard Bank's SARS payment facility which offers a secure channel for submitting tax return payments directly to SARS. Business Online also supports foreign currency payments.

Take some time to identify your startup costs and think through how you plan to fund your business. Even if your online business will just be a side gig for now, do yourself a favor and think through the business and sales metrics that you should be tracking so that you know if you're heading in the right direction.

S corporations have only one level of taxation. The shareholders still have to pay taxes on money that they receive from the corporation, but an S corporation does not pay taxes on its net income. While the S corporation is popular among small business owners, C corporations have greater tax planning flexibility.

Here's what I did. In the transition period between quitting my job at Longhorn Steakhouse in Atlanta, making $2 an hour, to creating my digital empire out of my office in gorgeous Santa Monica, I worked as a contracted online freelancer. I got to create my own schedule, meet a bunch of interesting people, and do something that I loved (or at least liked a lot).

All you have to do is handle the marketing to get your prospects to buy (through social media, email marketing , blogging, or whatever method you choose). But after they click the affiliate link, it's out of your hands. You don't have to ship products or handle any customer service questions. And you certainly don't have to maintain an inventory.