Advantages of a Home Business

Tuesday, December 4, 2012

With the dismal condition of the economy, it is not surprising to see that people are opting to start their own home-based businesses. For some a home business is the optimal solution.

Listed below are some of the advantages of having a home business:

Personal Freedom

For many, the idea of being your own boss would be considered a dream.  Having the time, freedom and flexibility to do what you want and when you want would be considered ideal.  Working from home has several advantages, and one of which might be saving you the frustrating commuting time going to and from the office.  In that way, you can spend your time being more productive.

Furthermore, home business owners do not have to worry about formalities and trivialities like dress codes, work schedules, and most certainly, office politics.  The hard work and discipline shown can be completely empowering. The results of the business are in tandem with your personal growth and skills.

Having a home business allows different responsibilities, because at the start of the venture all the aspects of the business have to be handled. This also gives the freedom to shape the business in exactly the way you want and to gain insight into the different aspects of running a business. 

Tax Advantages

A home office will enable you to avail different tax advantages. A portion of the operating and depreciation expenses of the home can be deducted and used as business expenses. Due to the fact that a certain percentage of the business is occupied by your home. In fact, the percentage of your home (that is represented by your office) is an expense that will be deducted from your mortgage, utilities, property taxes, insurance etc. 

You get to keep the money you make.

The earning potential is directly aligned with performance. Generally, the harder you work, the more that can be gained.  Plus working from home allows direct contact with clients and feedback cycles tend to be faster. 

More Time for Family

A home office may help business owners spend more quality time with their family. Being more available can allow an adjustment in routine and priorities.

Having a home business definitely has its advantages, is it something that you might like to do?