The simple one word answer is “Yes”.
BUT- it takes time, dedication and perseverance. Do not expect to become successful and make millions overnight. Many of the big names in the internet were the results of a lot of initial hard work, and in some cases huge financial investments. (It took Amazon over 7 years to announce a profit).
If you are looking for a way to supplement your income in the long term, and are prepared to work hard in the short term for potentially little financial reward, setting up an online business can be a solution.
How can you make money online?
There are many different ways to make money online. When you start up, there will probably be many competitors, and getting the first order or job will take time.
The other pages on this website will give you some ideas and tips about making money online.
BEWARE: There are plenty of so-called business opportunities offering you the opportunity to make a lot of money in a short time. The likelihood is that the opportunity is some form of scam.
What do you need to make money online?
In simple terms you need a computer and an internet connection. However that is not the full story. You also need to have a skill or offer a service for which there is a demand. Other pages on this website give more details on some of the ways to make money online.
How do you start making money online?
The starting point for any business, whether online or not is with the initial idea. The next stage is research to see if you have competition and working out how you will be different. Once you have done that, it is easy to set up a website. However the promotion of it and getting it up the search engine rankings is where many online businesses have the most difficulty.
How long will it take to start making money online?
There is no specific answer to this question. It depends on what product/service you are offering. For instance if you start as an outlet to sell your own craft items, you will have the expense of the raw materials to take into account as well as the expenses involved in setting up a website. It will take time for sales to accumulate and, you may not make money for a year or more. Further, you could find that you are in competition with large companies who use their website as a marketing tool rather than to make money.
What about freelancing?
Unless you are very lucky, it usually takes up to three months or more before you will be earning enough from freelancing to make a steady income. There are many types of freelancing jobs, or you could become a freelance SEO consultant, and help other webmasters build a business. It takes a while to build up a solid customer base. The posts on freelancing go into more detail about this.
What about tax?
Certainly in the UK, and probably most other jurisdictions, the tax authorities are watching the internet for new businesses, and will expect you to pay tax just like any other person or business.