Office 365 is a cloud-based web-centric version of Office, paid for through an annual subscription. The default storage is on the internet, not your local PC. I'll repeat - you have to repurchase a subscription every year, and by default your files are stored on the internet, not locally.
Is that what you need? You can get much the same for free using Google Docs, or the free online Office software available through Hotmail....
Note that most PCs purchased nowadays come with a preinstalled "Starter" edition of Offfice which includes versions of Word and Excel good enough for most SOHO users
Or on the other hand, if you want to store stuff locally, take a close look at LibreOffice / Open Office - for a SOHO environment either would be OK , and free (I wouldn't suggest it for a large office: too slow at networking). Or even go down the Ability Office route as an extreme alternative
Last edited by Milo Minderbinder; 23rd February 2013 at 22:21.