If you’re ready to free up your life, fire your boss, and start setting your own hours and income, it might be time to start your own home based business. The numbers of entrepreneurs are only growing these days, and below you will find just a few of the reasons why.
Less risk. Running a business from home takes much less startup cash than a freestanding business, or even a franchise location. And once your business is up and running, it’s cheaper and easier to maintain than a separate business location.
Tax advantages. There are a number of tax advantages to having your home and office under one roof. You can deduct a part of your home’s operating and depreciation expenses on your home as business expenses. This can be a percentage of your mortgage, property taxes, insurance, utilities, and/or the expenses of household maintenance.
More time for friends and family. This is especially important for parents of school-age children: you can see the kids off to school and on most days be home when they return. Also, if someone is sick, it’s easier to leave your home’s desk than one in someone else’s office.
Less stress. It’s a little less stressful to juggle the demands of work and family when you know you can stay home to care for a sick child and generally set your own schedule.
Opportunities for professional growth. Being your own boss gives you the chance to wear a lot of hats: sales director, marketing professional, strategist, business development manager, and more. This gives you insight into and experience with all the aspects of running a business, which, in turn, makes you even more marketable.
– via AllBusiness.com
When you start your own business, there are more freedoms than just setting your own schedule. If you want to grow your business quickly, working from home allows you to be free from employee or rental space limitations.
Working from home puts YOU back in control.
When you rent or own office space, the size of your business is fixed to the size of the space. In the event where downsizing makes sense, you may not be able to do so quickly if you are signed to a long-term lease. Working from your home allows you to hire more people or fewer people, or simply work longer or shorter hours to right-size your business operations.
Being able to work at night or first thing in the morning is a great boon for those entrepreneurs who are juggling children or other obligations. Mobile phones, faxes and email allow you to interact with your customers and suppliers at any time of the day or night. You can more easily accommodate customers in different time zones and kids’ school schedules.
Starting a business from your home allows you many freedoms and flexibilities to grow your business at your own pace. It also saves money on many fronts, which helps during the often-lean start up years.
– via Investopedia
Do you currently work from home? What ways could a home based business make your life better?