7 Compelling Reasons To Start A Business From Home
Many people have aspirations of working for themselves. Some people want to spend more time with their families without worrying about money. Others just hate their jobs and perhaps the industry they work in. Becoming self-employed is a dream that more people turn into reality.
But, do you want to know how most of those folks start out working for themselves? They run their business from home! Some people assume that you need to lease an office to appear professional. Of course, that’s not the case. Here is a list of seven compelling reasons to start a business from home today:
1. You can start your business while you work
Money plays a major role in deciding whether to give up a job and become self-employed. These days, savvy entrepreneurs have the best of both worlds! Their day job helps to pay the bills and encourages them to grow their home-based businesses.
Thousands of people start businesses each year while still holding down a job. It helps them make the transition into self-employment easier. That’s because there isn’t an “all or nothing” approach to starting a new business.
When the business grows at a steady pace, people have the power to decide when they wish to quit their day jobs.
2. It’s cheap to do
The idea that you need business premises to run a business is no longer a “thing”. Did you know that many of today’s biggest brands started out as “bedroom businesses”? Some electronic brands even started from the garages in their homes!
Starting a business from home is cheap because you have minimal overheads. You don’t have to pay extra money for office or storage space, commuting costs, or utilities. In fact, you can even get tax deductions to help towards the cost of working from home.
3. Even starting a company from home is easy
If you wanted to go down the incorporation route, setting up a home-based company is a cinch! Your Company Formations, for example, make it easy to register your business online. All you need is an address for your registered business. You can use your home address, of course.
Thanks to the Web, it’s possible to manage various aspects of a company from your living room. The Internet makes it possible to access a range of tools and service providers online. Who said that starting a company from home was hard?
4. You can outsource all kinds of business functions
Are you worried you may have to build a garden office and hire lots of people to work in it? The good news is that you can keep your garden intact! In today’s modern world, outsourcing is big business. You can outsource all kinds of things, some of which you may never have imagined!
Examples of outsourcing include accountancy, distribution and logistics, and IT management. You can even outsource admin work such as data entry. Nowadays you have an army of outsourced service providers at your disposal.
5. You’ll lead a more flexible lifestyle
Are you a workaholic? If so, you can dictate your working hours and defy convention by not working 9-5. And if you have a relaxed approach to work, you can even go down the part-time business route.
Working from home gives you the flexibility to enjoy spending more time with your family. Or you could spend your afternoons doing a spot of gardening. Maybe you like to de-stress by playing computer games? Whatever floats your boat, anything is possible when you run a business from home!
6. You can enjoy the raft of tax benefits on offer
As weird as it sounds, running a business from home is more tax-efficient than working out of an office! You can enjoy all kinds of incentives to run your business from your living room.
You can claim on expenses such as heating and lighting, Internet access, and phone calls. It’s worth checking what you can claim in your location to reduce your tax liability. If you use an accountant, they should give you the information you need.
7. You will enjoy a better quality of life
Last, but not least, you won’t end up becoming a corporate drone. Some folks relish the prospect, but that’s not for me. And I guess it’s probably not for you either!
Working from home will guarantee you a better quality of life. Without your health and happiness, money will mean nothing to you. It’s crucial you don’t end up becoming a “stress head” because you’ll have a poor quality of life.
A home-based business gives you the opportunity to enjoy your life as you see fit.