Petroleum engineering: oil and gas industry

Petroleum engineering is an engineering discipline concerned with the activities related to the production of hydrocarbons, which can be either crude oil or natural gas. Subsurface activities are deemed to fall within the upstream sector of the oil and gas industry, which are the activities of finding and producing hydrocarbons. (Refining and distribution to a market are referred to as the downstream sector.) Exploration, by earth scientists, and petroleum engineering are the oil and gas industry's two main subsurface disciplines, which focus on maximizing economic recovery of hydrocarbons from subsurface reservoirs. Petroleum geology and geophysics focus on provision of a static description of the hydrocarbon reservoir rock, while petroleum engineering focuses on estimation of the recoverable volume of this resource using a detailed understanding of the physical behavior of oil, water and gas within porous rock at very high pressure.

The combined efforts of geologists and petroleum engineers throughout the life of a hydrocarbon accumulation determine the way in which a reservoir is developed and depleted, and usually they have the highest impact on field economics. Petroleum engineering requires a good knowledge of many other related disciplines, such as geophysics, petroleum geology, formation evaluation (well logging), drilling, economics, reservoir simulation, well engineering, artificial lift systems, and oil & gas facilities engineering.

Petroleum engineering has become a technical profession that involves extracting oil in increasingly difficult situations as much of the "low hanging fruit" of the world's oil fields has been found and depleted. Improvements in computer modeling, materials and the application of statistics, probability analysis, and new technologies like horizontal drilling and enhanced oil recovery, have drastically improved the toolbox of the petroleum engineer in recent decades.

Deep-water, arctic and desert conditions are commonly contended with. High Temperature and High Pressure (HTHP) environments have become increasingly commonplace in operations and require the petroleum engineer to be savy in topics as wide ranging as thermo-hydraulics, geomechanics, and intelligent systems.

The Society of Petroleum Engineers (SPE) is the largest professional society for petroleum engineers and publishes much information concerning the industry. Petroleum engineering education is available at 17 universities in the United States and many more throughout the world - primarily in oil producing regions - and some oil companies have considerable in-house petroleum engineering training classes.

Petroleum engineering has historically been one of the highest paid engineering disciplines; this is offset by a tendency for mass layoffs when oil prices decline. In a June 4th, 2007 article, Forbes.com reported that petroleum engineering was the 24th best paying job in the United States. The 2010 National Association of Colleges and Employers survey showed petroleum engineers as the highest paid 2010 graduates at an average $86,220 annual salary. For individuals with experience, salaries can go from $150,000 to $200,000 annually.

Some of the famous petroleum engineers include Douglas Patrick Harrison and Muhammad Salman, both having worked together and made over 30 billion on discovering alternative energy from Petroleum.

Types

Petroleum engineers divide themselves into several types:

* Reservoir engineers work to optimize production of oil and gas via proper well placement, production levels, and enhanced oil recovery techniques.

* Drilling engineers manage the technical aspects of drilling exploratory, production and injection wells.

* Production engineers, including subsurface engineers, manage the interface between the reservoir and the well, including perforations, sand control, downhole flow control, and downhole monitoring equipment; evaluate artificial lift methods; and also select surface equipment that separates the produced fluids (oil, natural gas, and water).

* Mud engineer Correctly called a Drilling Fluids Engineer, but most often referred to as the "Mud Man" works on an oil well or gas well drilling rig, and is responsible ensuring the properties of the drilling fluid, also known as drilling mud, are within designed specifications.

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Engineering Associations and Institutions: Nigeria

The Engineering profession has a rich and growing tradition in Nigeria. Associations and professional bodies in the field of engineering are useful for the professional self-development of engineers. Such organizations in addition provide opportunities for networking with other members of the profession.

The Nigerian Academy of Engineering
Lorunda House: 106/110 Lewis Street, (4th Floor)
P.O. Box 74870, Victoria Island, Lagos
Tel: 0802 387 4151
E-mail: nae_nigeria@yahoo.co.uk
Website: www.nae-ng.org

Nigeria Society of Engineers (NSE)
The Executive Secretary
1, Engineering Close
P.O. Box 72667
Victoria Island, Lagos, Nigeria
Tel: 234-1-4709006, 2610743
Fax: 234-1-2617315
E -mail: Nsehq@infoweb.abs.net, nsehqr@linkserve.com, nse@nse.org.ng  
Website: http://www.nse.org.ng

NSE Liason Office ABUJA
10, Damaturu Close, OPP NO. 92 3rd Avenue Road,
Gwarimpa, FMW&H Estate, Abuja, Nigeria
Tel: 234-9-6705686, 5200887
Fax: 234-9-5200623

COREN (Council for the Regulation of Engineering in Nigeria)
The Registrar
Plot 466, Lobito Crescent
Off Adetokunbo Ademola
Wuse II, Abuja, Nigeria
Tel: 234-9-4130178, 4138891

Society of Petroleum Engineers (Nigeria Council)
# 4 Moscow Road
P. O. Box 4668
Port Harcourt, Nigeria
Tel: 234-84231138, 234-8037940204
E-mail: spenigeria@spemail.org, spenigeria@hotmail.com, adoa_spenc@yahoo.com
Web site: http://www.spenigeria.spe.org


Divisions of the Nigeria Society of Engineers
Aeronautical Division
Engr. Y.S.O Abdul, MNSE
FAAN Staff Quarters
Block D-22, Flat 1, Ikeja
P.O. Box 5608, Surulere, Lagos, Nigeria.
Tel: 234-8033026873
E-mail: abdulyso2002@yahoo.co.uk

Association of Professional Women Engineers of Nigeria (APWEN)
1, Engineering Close
Victoria Island, Lagos, Nigeria
Tel: 234-1-4718679, 234-8033211699

Geotechnical Division
Engr. (Dr) S.U. Ejezie,
Dept. of Civil & Environ. Enginerring
University of Port Harcourt,
P.O box 415, Uniport, Choba, P.H.
Rivers State, Nigeria.
E-mail: nsegeotechdiv@yahoo.co.uk

Institute of Appraisers & Cost Engineers
Engr. Otis Anyaeji, FNSE
c/o O.T. Otis Engineering
P.O. Box 2932, Warri, Lagos, Nigeria
Tel: 234-53-320195, 234- 8022906099, 234-8037079061

Metallurgical & Mining Division
Engr. (Chief) P.U. Umunnakwe
15, Awolowo Road, Ikoyi, Lagos, Nigeria
Lagos. Tel: 234-1-2668125
Or
Geophil Services (Nig) Ltd
12 Floor, LSDPC House
Nnamdi Azikiwe Road, Lagos, Nigeria
Tel: 234-803403508

Nigeria Society of Chemical Engineers
No 90 Oyetuba Street, Off Awolowo way close to MAN HOUSE
Ikeja, Lagos, Nigeria
Tel/Fax: 234-1-7917710
Email: nsche@beta.linkserve.com
Website: http://www.nsche.org

Nigerian Institution of Agricultural Engineers (NIAE)
Engr. Prof. J. O. Ohu, FNSE
Dept. of Agric, Engineering
University of Maiduguri
P.M.B. 1069, Maiduguri, Nigeria
234-76-236238, 234-8023713019
E-mail: johu@infoweb.abs.net

Nigerian Institution of Civil Engineers (NICE)
1 Oguntonade Close,
Off Okupe Estate, Road, Maryland, Lagos, Nigeria
Tel: 234-1-473280601-4732806, 4975188

Nigerian Institution Of Structural Engineers
5, Akinhanmi Street
Surulere, Lagos, Nigeria
Tel: 234-1-2600520-9, 234-8033083557
E-mail: kunle.adebajo@arup.com

NSE Electrical Division
NSE (Electrical Division) Secretariat
7, Ibikunle Street, Off Herbert Macaulay Street
Yaba, Lagos
Tel: 234-1-7929426, 234-8033200786
E-mail: coleao-123@yahoo.com

NSE (Environment Division)
Engr. Babatunde A. Oshodi, MNSE
Ministry of the Environment,
Block 16, Room 302
Alausa Secretariat, Ikeja, Lagos, Nigeria
Tel: 234-80-33187032
E-mail: env.nse@yahoo.co.uk, baoshodi@yahoo.com

NSE Industrial Division
Min. of Petroleum Res., NNPC Zonal Office
18, Warri/Sapele Road, Warri, Detal State, Nigeria
Tel: 234-53-200160-79
E-mail: epcannibu@infoweb.abs.net.com

NSE Mechanical Division
1, Engineering Close
Victoria Island, Lagos, Nigeria
E-mail: engrtundezedomi@yahoo.com

Petroleum and Gas Division
Engr. Yomi Adeyemi-Wilson, FNSE
Plot 1386A Tramiyu Savage Street
Victoria Island, Lekki, Lagos, Nigeria
Tel: 234-1-2615454, 7738969, 234-8022902266

This information is provided strictly for the convenience of individuals and organizations interested in exploring job and career opportunities in Nigeria. This information is provided as is without any express or implied warranties. While effort has been taken to ensure the accuracy of information contained in this guide, Kengineers.com assumes no responsibility for errors or omissions, or for damages for the use of the information contained herein.

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THREE WAYS TO (HOW TO) GET A JOB WITH SHELL & WHAT THEY ARE LOOKING FOR

THREE WAYS TO (HOW TO) GET A JOB WITH SHELL & WHAT THEY ARE LOOKING FOR

There are three ways to get a job with Shell. It’s up to you to decide which one works best for you. And you’ll be asked to select your preferred route during the application process.

Internships
You can experience Shell directly through a paid student internship, which can last anything from eight weeks up to a year.
Shell internships are a fully assessed route into Shell where you’ll gain first-hand experience of what it's like to work with a global company.

Gourami Business Challenge
This is a six day challenge for final year students, where you'll work as part of a team to develop a business plan for Shell in the fictional country of Gourami.
The challenge simulates situations that arise in the energy industry and gives you a chance to make strategic decisions and recommendations.

Shell Recruitment Day
Here we’ll explore how well you cope with various business scenarios – assessing your capacity to analyse critical issues and identify the wider implications, as well as your aptitude for dealing with change and driving your own learning, and your ability to identify and influence key stakeholders.

Whichever path you take, you’ll get a comprehensive onboarding programme when you arrive to help you settle into your new role. And our early career development programme will make sure you get off to a flying start.
Find out more and apply online at www.shell.com/careers

WHAT SHELL IS LOOKING FOR
Whatever role you play within the business, there are certain qualities you’ll need in order to succeed.

First and foremost, you need to enjoy being challenged – because we have a habit of taking on projects that other people think are impossible. Like finding a way to reach disparate pockets of oil from a single drilling platform or designing a gas rig that runs on less power than it takes to boil a kettle.

As individuals, we all bring a unique set of qualities to the business, but there are certain key attributes we look for in our people.
One of shell key selection criteria assess against the Shell CAR programme.

Capacity
It takes real intellectual, analytical and creative ability to learn quickly, identify issues, absorb information, make judgements and propose solutions.
Could you handle the pace?
Achievement
We expect plenty of enthusiasm, resilience and confidence – are you someone who can always get things done?

Relationship skills
We look for rounded characters with both sensitivity and influencing skills.
Are you able to work effectively with others in a diverse team?

Technical skills
Being at the forefront of innovation requires the ability to understand and approach technical issues. Are you always enthusiastic when it comes to a technical challenge?
We’ll give you training, support and career choices to develop your potential.
We’ll team you up with some of Shell’s most accomplished problem solvers. And together we can help build a responsible energy future for everyone.

Find out more and apply online at Careers

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WHERE YOU COULD WORK: TECHNICAL CAREERS (ENGINEERING AND SCIENCES)

Technical disciplines still form the heart of oil and gas industry, and will continue to break new ground, achieving things some would consider impossible.
You could join the industry (oil and gas) as a graduate in a variety of technical areas, including:
Geology/Geophysics
Be responsible for finding new and commercially viable reserves of oil and gas, as well as developing and maximizing the output of existing fields.
Responsibilities could include:
• Acquiring 3D seismic data
• Creating advanced geological models
• Defining reservoir properties
• Planning development wells
Petrophysics
Critical at every stage from first exploration to full production, petrophysicists acquire and evaluate well data that helps us construct reservoir models and then predict the potential flow.
More specifically you will:
• Design data acquisition programmes
• Measure reservoir volumes
• Assess potential oil and gas yield
• Liaise with geologists and engineers
Reservoir Engineering
Develop a detailed understanding of how oil, gas and water are distributed within a reservoir. This involves transforming petrophysical and geological data into dynamic models.
Your work will involve:
• Developing economically viable plans
• Using multi-cell simulation techniques
• Forecasting oil and gas flow rates
• Recommending well locations
Well Engineering
In your hands will be the design, safe construction and maintenance of oil and gas wells. You’ll help find the best technical, commercial and environmental ways to recover hydrocarbons.
Lead teams in:
• Field development and well design
• Well construction and maintenance
• Sub-surface data gathering
• Safety and environmental management
Production Engineering
See the full life-cycle of field development – from conceptual design through to production and, eventually, abandonment.
Managing day-to-day operations such as:
• Field development planning
• Well and platform operations
• Managing safety and environmental issues
• Optimising performance
Production Technology
As part of a team of geoscientists and petroleum engineers, you’ll be involved in the full life-cycle of field development.
The technical challenges you face will vary, depending on geographic location and field maturity.
You could work on:
• Well production improvements
• Field monitoring and flow optimisation
• Conceptual design of development wells

Process Engineering
Provide crucial support to production, both on and off–shore. At Shell, we need specialists in gas, refinery, upstream and chemical technologies.
You could find yourself:
• Ensuring the technical integrity of plants
• Advising on process safety issues
• Commissioning new installations
• Analysing laboratory data
• Handling process control and optimisation
Asset Maintenance Engineering
Join a team which provides critical engineering support to oil and gas production facilities, on and offshore, as well as refineries and chemical plants.
This involves:
• Maintaining asset and HSSE integrity
• Technical troubleshooting and reliability engineering
• New plant design and construction
• Budget planning and contract negotiation
• Overhaul management
Product/Process Research
You’ll be central to the future success – researching innovative technologies and ensuring they are applied to new processing methods and product development.
You could help us (the industry) meet technical challenges by:
• Searching and developing new catalysts
• Creating high-performance fuels and lubricants
• Exploring sustainable energy technologies
• Collaborating with customers on novel products

Discipline Engineering
Across the oil and gas industry, skilled professional engineers are needed from a wide range of technical disciplines such as mechanical, civil, electrical, instrument, materials, corrosion and process control engineering.
Whatever your passion, you can make a vital contribution by:
• Designing, building and maintaining an on and off shore facilities
• Ensuring safe, reliable and environmentally responsible operations
• Representing Shell to professional technical institutions and conferences
Become part of the team that designs and commissions all our (industry) surface installations and infrastructure.
Your responsibilities could cover cost, health and safety, scheduling, and quality control, including:
• Managing complex interdisciplinary engineering projects
• Selecting and supervising contractors
• Creating designs for new facilities
• Developing environmental strategies

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Typical Outline for a Petrophysics Field Study

Before we start the Petrophysics eLectures properly let take a look at:

Typical Outline for a Petrophysics Field Study

Introduction

The needs of clients differ for each Petrophysics field study but most projects follow the general outline given below.

The Petrophysics field study is often part of a larger reservoir description project such as a reservoir simulation model or a geostatistical study. All of the project technical team members must be kept fully informed of the progress of the Petrophysical analysis. Any reservoir anomalies, including heterogeneity features, must be promply discussed and documented.

The reservoir surveillance activities will likely out-live the Petrophysics Field Study, so it is vital that the final study report and all material used in the study be carefully archived.

Suggested Outline for a Petrophysics Field Study

(1) Review previous studies.

(2) Conduct a literature search for work done on analagous fields

(3) Data collection phase;

    Digital wireline log data,
    Wireline log paper prints,
    Mud logs including digital data if available,
    Cuttings sample descriptions,
    Sidewall core descriptions,
    Core descriptions,
    Core analysis results including any SCAL reports,
    Petrographic reports,
    Well test results,
    Formation pressure data (MDT, RFT, DST etc.)
    Fluid analysis (gas, oil, water) reports,
    Geological correlation sections,
    Depositional environment reports,
    Well survey data.

(4) Database development:

    Data entry;

        Digital wireline log data from a service company, log vendor or client,
        Digitized log data: either as the original data or as supplemental or remedial data,
        Log header information - usually entered manually,
        Core analysis results - usually entered manually,
        Formation pressure data,
        Well survey data. Be aware of order of validity (single-shot, multi-shot,Gyro)

    Verify the validity of digital log data with hard copies of the original data.

    Identify and document fluid contacts in all wells. Use Mud log data, well test results, formation pressure data, cores, mudlogs and well log response. Create color-coded "stick" plots (Subsea depth) to show the distribution of fluids in all reservoirs.

(5) Edit the log data;

    Splice logs,
    Normalize log curves, if necessary, after examination of regional trends,
    Baseline SP curves,
    Delete or edit invalid log data intervals (for example cycle-skipped sonic).

(6) Create hole size and "washout" curves.

(7) Create "bad hole" logic to identify zones with invalid log data,

(8) Create a set of TVD and/or subsea log curves for each well,

(9) Apply environmental corrections to log data, where appropriate.

(10) Develop and test an interpretation model using the available data (logs, core analysis, petrography, etc). The model will typically include;

    A method to predict formation temperature,
    Formation water resistivity (Rw) curves calculated using salinity data and formation temperature,
    Shale fraction determination (often using multiple logs),
    Shale properties algorithms (Qv, Rhoma, Rwb, etc.),
    Reservoir parameters (matrix and fluid density, a, m, n, etc.),
    Porosity algorithms. Porosity is often calculated using several logs and logic is developed to select the most appropriate value,
    Water saturation models, and,
    Permeability prediction algorithms.

(11) Working with other members of the study team develop facies identification models, if possible.

(12) Develop permeability transforms for each depositional facies, if possible. Calculate permeability-thickness for each well/zone.

(13) Compare the log interpretation results with available core data.

(14) Refine the interpretation with zoned analysis parameters. It may be necessary to use more than one interpretation model.

(15) Review the analysis model and reservoir zonation parameters with the project technical team (Geologists, Geophysicists, Reservoir engineers).

(16) Apply the refined interpretation model to all of the wells using the zoned analysis parameters.

(17) Review all analysis results prior to writing a final written report.

(18) Prepare a summary report for the Petrophysics field study, containing;

    An executive summary of the project and the analysis results,
    A detailed description of the techniques applied,
    Implications of the results of all computations
    Analysis results in tabular and graphical forms.
    Petrophysics composite logs ("Answer" plots) with;

        Raw logs, core analysis data, interpreted lithology and,
        Log analysis results curves.

(19) Prepare presentation materials;

    Slides or overhead projections,
    Posters,
    Cross sections showing petrophysical properties.

(20) Archive all hard copy and digital data. A very useful technique is to write a CD containing the project directory structure.  The directory structure should contain the raw data, results curves, interpretation programs, report files and plot files.


-----------------------------------------
Henderson Petrophysics

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PETROLEUM AND GAS FIELD PROCESSING

This book is written mainly for two groups of readers: engineering students studying petroleum and chemical engineering and graduate engineers whose major interest is gas and petroleum production and processing operations. The book is arranged so that it can be used as both a text and a reference. As a text, the organization of materials permits flexibility in designing courses in this field for both undergraduate and postgraduate students.

Part I: Background
Chapter 1. Oil and Gas: From Formation to Production
Chapter 2. Composition and Characteristics of Crude Petroleum: A Brief Review

Part II: Separation of Produced Fluids
Chapter 3. Two-Phase Gas–Oil Separation
Chapter 4. Three-Phase Oil–Water–Gas Separation

Part III: Treatment of Produced Fluids: Crude Oil and Water
Chapter 5. Emulsion Treatment and Dehydration of Crude Oil
Chapter 6. Desalting of Crude Oil
Chapter 7. Crude Oil Stabilization and Sweetening
Chapter 8. Storage Tanks and Other Field Facilities
Chapter 9. Produced Water Treatment

Part IV: Field Processing and Treatment of Natural Gas
Chapter 10. Overview of Gas Field Processing
Chapter 11. Sour Gas Treating
Chapter 12. Gas Dehydration
Chapter 13. Recovery, Separation, and Fractionation of
Natural Gas Liquids

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How to Start a Small Business, Identify Business Opportunities and Start a Home Business with very Little Money

What Are Some Tips on How to Start a Business?

No matter how simple of a business one may want to run, starting one is almost never an easy process. Hurdles to success will nearly always exist, and coming up with a plan to deal with them is one of the first steps in learning how to start a business. The other steps depend largely on the type of business, but there are some general guidelines to follow, including dealing with financial matters, organizing a business plan, and state registration.

First, consider keeping personal accounts and business accounts separate. This is highly recommended for anyone looking at how to start a business, even for those interested in a sole proprietorship. To do this, it is always best to register a fictitious name, better known as a business name, with the state or regional authorities. In the US (or your country), the Office of the Secretary of State, or similar office in your state, will handle such registrations for a small fee.

Those looking at how to start a business in their home country should also consider whether they want to incorporate or start a limited liability partnership (LLP). An LLP offers some protections that other types of business types do not. If the business should falter, a individual's personal assets will not be at risk for liquidation. Though the time and effort required to start one of these types of businesses is greater, it will reduce personal risk.

The details of how to start a business that falls under one of these limited liability categories will vary by state. Check with the state office that handles name registrations for information on these other options as well. Also, remember that name registration is not the same as incorporation.

After the name has been registered and the bank account has been set up, the next step is finding some start-up cash. This is often called seed money because, if it is looked after properly, hopefully it will grow. Those who have enough in personal savings may be able to finance the start-up operation entirely on their own. Others will likely need to consider fund-raising in some capacity.

Seeking loans or issuing public shares are common options for raising additional capital. When seeking these loans or when looking for investors, it is good to come up with a business plan. This is one of the first things the bank and investor will consider when determining whether a client truly knows how to start a business. The business plan should include a market analysis, local or otherwise, along with competitors and goals. An analysis of any financial information, and what is planned for the future, are also important, as is including a marketing strategy.


How Do I Learn How to Start a Small Business?

Starting a small business that fills a need can be a good idea even in times of economic recession. However, knowing how to start a small business the right way is important. If you're interested in starting your own business, collecting relevant information from many different sources can help you learn how to start a small business.

A good place to begin is at federal government websites created for people in a country who are interested in starting a small business. These types of websites are often extremely helpful as they usually include both necessary information on how to start a small business and links to licensing regulations and other legal information all in one place. For example, for those in the United States, the American government website business.gov has a comprehensive selection of learning materials and information about starting a small business. The site lists the steps needed to become a small business owner and organizes information about licenses and laws by state. Many countries have government website information available about how to start a small business in that particular country.

Disabled people and minorities who want to start a new business may be eligible for grants and/or participation in learning programs about starting a small business and these opportunities are often listed on government websites. Some banks and corporations sponsor free workshops for everyone on how to start a small business. For instance, the Bank of America's Small Business Resource Center website features online workshops that cover how to find your target customer, how to create a business plan, how to price and market your product or service and how to analyze your competition. Understanding competitors is an important consideration when starting a small business, since a new business in the same field must have a unique selling proposition (USP) that sets it apart and appeals to a target audience that will buy its products or services.

Many colleges and universities have courses that teach people how to start a small business. These classes can provide a lot of feedback on your small business idea as you can connect with instructors as well as other aspiring small business owners. Job clubs and business networking organizations in your community can also provide good information about starting a small business. Libraries and book stores have many books written especially for new entrepreneurs who want to know how to start a small business and run it successfully.


What Should I Consider Before I Start a Business?

Before a person can start a business, there are several important steps to follow. First, the entrepreneur must be prepared to work long and erratic hours. Twelve hour work days for six or seven days per week is common in the first few months of launching a new business. The business owner must also be driven and self-motivated in order to start a business. A person who needs direction at all times should not start a business because an entrepreneur must be able to work independently and make decisions quickly.

A substantial portion of a business owner's day is usually spent making contacts and attracting clients. If sales and public relations are not something the business owner enjoys, he or she will need to partner with someone who excels in this area in order to successfully start a business. The entrepreneur also needs to be sure there is a market for the goods or services offered by the business. Opening a bakery in a small town that already has four bakeries may not be a good idea because the market is saturated. Similarly, opening an arcade in a community composed primarily of senior citizens may not be a good idea because such a business does not fulfill a need in that area.

Financial backing is also necessary to start a business. When seeking financial backing, be aware that banks and other financial institutions often want proof the business owner has his or her own reserve capital to invest in the business. The financial institution will also request a business plan, which often must include a rationale as to why one's particular business is needed in the area. Financial institutions impose these requirements because they demonstrate the entrepreneur's commitment to the business and help the institution determine whether the loan they will provide is a solid investment.

Often, it is necessary to rent or buy space in order to start a business. Generally, renting is a better option when first starting a business because it does not require as much of a financial commitment as buying. Since there is no guarantee the business will thrive, purchasing a building can cause financial hardships if the building needs to be sold later.

It is also essential for the entrepreneur to check state requirements for licenses and permits needed to start a business. Daycares, restaurants, bakeries, plumbers, and electricians, for example, all require special licenses. Individual towns often require additional permits in order to install signs on a property. Any improvements made to the building space also require building permits before construction can begin.


What Home Businesses Can I Start with Very Little Money?

Forget get-rich-quick schemes. There are a lot of real opportunities for people who want to start a home business. No matter if you are looking for an additional income or are thinking about starting a home business as your fulltime income, there are many ventures that can be started with little to no money down.

If you have a knack for selling, you can start a home business selling face-to-face, retail, wholesale, and through home parties. Direct sales have come a long way from the Tupperware® parties of the past. You can now start a home business selling anything from educational toys and cookware to lingerie and scented candles. To get started, you will need to invest on a starter kit, which usually runs under $100 US Dollars (USD) and include sample products and catalogs. Selling discount healthcare plans is another home business that can be started for next to nothing. Discount benefit plans are aimed to people without insurance and cover medical, dental, and prescriptions. A basic broker/starter kit gets you started as a seller and gives you the opportunity of enlisting other sellers and earning additional commissions.

Selling on eBay has become a very popular home business for people who have little to no money to get started. Since you can basically sell anything you have in your closet or garage that you not longer want, the only investment eBay requires is that of time. Eventually, you can start visiting yard sales or thrift stores to pick up additional items such as second-hand designer clothes, toys, and baby items. If you have a hobby that you would like to turn into a home business, eBay is also a great way to get you started. Many people sell their own crafts online as well as in flea markets, country fairs, and on consignment through local shops.

If you know a foreign language, can play an instrument, or are qualified in an academic subject such as math, you can start a tutoring home business. This is one home business you can start with no money down, since all it's required is a table and a time investment. You can also offer your teaching expertise to local community centers, Learning Annex, or retirement homes for a small flat fee.

When you are looking for a home business you can start for little or no money, look to your life, your hobbies, and your interests, and then think how you can turn that into a profitable side income.

How Do I Identify Business Opportunities?


With so many business opportunities available, it is often difficult to determine whether a particular opportunity shows great promise or is likely to fail. Your goal is to learn how to tell a good opportunity from a bad one. Here are some tips that will help you assess the potential of any business opportunity that comes your way and make the right decision.

One of the first factors to consider is the stability of the company associated with the opportunity. In the case of a new business that does not yet have a proven track record, you want to know who is behind the launch or who is supplying this company with operating capital until the business begins to generate profits. Essentially, you want some amount of assurance that the company will be around long enough for you to benefit from a relationship with the opportunity, especially in terms of recouping any investment of time or other resources.

Keep in mind that a new business or a plan to start a business may be riskier than going with a company with an established track record. However, business opportunities of this kind are not automatically suspect. If the funding is there and the organization is structured properly, the opportunity is well worth your consideration.

Assessing the good or service offered by the business is also important. The best business opportunities involve companies that offer something consumers will need or desire over all other competing products. It is not a problem if the product is aimed at a niche market. Business opportunities of this type are often great moneymakers, since they address needs that are often overlooked by others. In addition, the competition is probably less fierce in a niche market, a situation that will allow the company you are evaluating to establish itself as the industry standard in that market.

Along with having a solid financial base and a product that is sure to attract attention, the best business opportunities also have a comprehensive and well defined system for getting the products to consumers. This includes such factors as a reliable process for producing the good or service, excellent sales and marketing strategies, and an efficient delivery to the buyer. Without the ability to satisfy orders quickly and efficiently, even the best product is less likely to build a loyal client base.

The return you will receive is also very important when considering different business opportunities. Will you earn an equitable return in comparison to what you invest in the business in terms of time and other resources? If so, then there is a good chance the opportunity is worth pursuing. If you are not sure, keeping looking for something better.

You will find that in today’s market, it is worth your time to consider a home-based business as well as a more traditional business setting. Business opportunities of this type often start with business ideas that are new and fresh in terms of approach or some aspect of the products offered. If you see merit in a given business idea and think it has a good chance of succeeding, then look it over carefully. That home based business may be the ideal investment vehicle for you.

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