There are many benefits to working from home and as the recent economic crisis has left many needing to find new employment, now would seem as good a time as any to take the plunge and start a business from home. A home based business can offer you that work-life balance that could have been missing before, as well as giving you more time with family and friends, and the opportunity to leave the rat race far behind.
If you need more convincing then here are ten reasons why you should start a business from home:
- A home based business will give you greater personal freedom, allowing you to avoid spending hours every day in traffic or crushed on an over crowded train. A home based business will allow you to take a different kind of driving seat and added to this, no need to answer to anyone else but yourself.
- You keep what you earn, so the harder you work the more money you stand to make. Of course the amount you can earn will be related to the type of business you start, however you can decide when to give yourself a raise and just how much all your hard work and effort is worth. Furthermore by working from home you will save money on transport and food costs.
- A home based business will give you the opportunity to consider different income based enterprises allowing you to expand into different sectors and increase your earning potential.
- You will typically need very little startup capital when you come to start a business from home, making it a less risky alternative to buying into a franchise or other business. Running your business from home is also cheaper than running a business from other premises in a separate location.
- A home based business is eligible for several tax deductions including things like utility costs, rents, maintenance, property taxes and insurance.
- Working from home means you will have more time to spend with your friends and family which can be especially useful if you have children of school-age. You can also benefit from taking time off when you need to, i.e. for illness, or when you want to, i.e. for a vacation.
- There is typically less stress with a home based business as you do not need to juggle your home-life with your work. You will also benefit if a child or family member is sick as you will not need to take time off work to care for them.
- One of the biggest advantages to being your own boss is you can take on different roles such as accounts manager, business development, marketing and sales. This will give you the option to gain an insight in to the many aspects of running a business which will give you more credibility in the professional world.
- You will find that by running your own business you will become more productive and able to spend more time working rather than travelling or attending meetings. This in turn should give you more energy and focus to devote to your business.
- Finally, working from home will give you the opportunity to develop your skills and creative talents. By starting a business from home you have the perfect platform to turn your creative skills, passions or hobbies into a money making business.