10 Good Reasons to Start a Home-Based Business
Our contributor Heather shares her top 10 reasons to start a home business.
- Be the best boss you’ve ever had!
I’ve experienced working for some great bosses and some not so great bosses in my employed life, however I now have the best boss ever – ME!
- You can start immediately
Most home-based business opportunities offer immediate start-up so you earn an income or commission immediately. You also have the option to choose whatever business you like, however you have to have belief, honesty and passion for it to be a success.
- Low start-up costs
Direct Sales businesses tend to have very low start-up costs so this is a huge advantage when you are starting up. Other home-based businesses will also have lower start-up costs, however research should be done on all options before deciding which business to choose.
- Minimal overheads
Depending on what type of home-based business you choose to start, the overheads are generally a lot lower as you don’t have to rent or buy an office space. This is a huge benefit when you are taking the plunge into the self-employed world. Keeping your overheads low will ensure a more profitable business, and you’ll break-even quicker. You can then choose to invest the money back into your business (if this is an appropriate option for your business type) or pay yourself more!
- Tax Benefits
There are lots of advantages when it comes to paying taxes when you are self-employed. These are dependent on your own personal circumstances so always speak to an accountant, tax advisor or check out the HMRC website www.hmrc.gov.uk for more information.
A huge benefit of working from home is the fact that you have complete flexibility when it comes to your working hours. Whilst you should be disciplined and set your own working hours, it does mean you are able to go to school sports days, assemblies, concerts etc. You can go on as many holidays as you want to, take time off during school holidays, when your children are off sick from school it is easier to care for them when you work from home, less money is spent on childcare etc. These are just a few of the reasons why working from home is so much more flexible than being an employee.
Working for yourself can be great fun as I have found out whilst working in Direct Sales. This is a huge benefit as I really enjoy what I do; it is fun and sociable and I have met some really lovely people whilst doing my job! Also, one of the main reasons people leave their jobs is because of boredom. When a company employs you your role is often very specific. Working from home allows you responsibility for PR, social media, planning, forecasting, invoicing, customer service etc. so your role is completely versatile.
- Less Stress
The pressure of targets and goals at work combined with the daily commute to your workplace, sorting out childcare and running a family home can be too much pressure and stress to bear at times. The lower costsassociated with running a home business mean the risks, and stress, associated with it are reduced. The daily commute is no longer an issue and family problems and childcare will be easier to cope with as well. Your partner, parents and children can help with the running of your business and not only will they often work for free, but you’ll have the added benefit of spending more time with your loved ones.
You will have the power and freedom to do whatever you like. Deadlines, targets and goals will be set by you and you can choose how to run your business and in which direction to take it.
The money your business makes is yours rather than someone else’s. When your business makes a profit it is you and your family that benefit not a multi-national company.
I can honestly say that when I made the big decision to give up my last employed position nearly 4 years ago, I was somewhat scared and unsure whether I had made the right decision. I quickly realised that I had made the right decision and now with 2 successful home-based businesses (a Training business and a Direct Sales business) I wish I had made the leap earlier. Good luck making your decision and finding the right business for you.