Hobby or business? Understanding the difference
Sometimes, what starts out as just a hobby can transform into a full-fledged business. In this guide, we’ll take a look at the…
Overview
Sometimes, what starts out as just a hobby can transform into a full-fledged business. In this guide, we’ll take a look at the key differences between a hobby and a business, and explain what you have to do if your hobby qualifies as a business. This version is adapted for Nexbal with a shorter, practical structure.
Key Takeaways
- What is a hobby?
- What is a business?
- When does a hobby turn into a business?
Practical Checklist
- Define the process and responsibilities before you invoice.
- Verify customer data, amounts, taxes, and due dates.
- Use a consistent template and keep documentation in one place.
- Follow up unpaid invoices with a predictable reminder flow.
Start invoicing with Nexbal
Use Nexbal to create and send professional invoices with less manual work.