Why a Home Business May Be Right For You

I have been a home business owner since 1996. If you have ever considered a home business but have not moved forward with it, keep reading. For many people, a home business provides a lot of options that are not available to you when you work a traditional 8-5 job. Here are a few of the reasons why a home business may be right for you:
Flexibility – You get to set your own hours, make your own schedule, decide on your company dress code, make the rules, name the company, set the company philosophy, decide where your office will be located, etc. This was a huge factor for me!
Income – What many people don’t realize is that home business owners earn very respectable incomes from the comfort of their own houses. According to an IDC survey, the average annual income from a home business is $63,000; nearly 20,000 home based businesses earn six figure incomes. The money doesn’t happen overnight but for many people the income earned from a home business is comparable to or exceeds what they earn working for someone else.
Commute – Since your business is located in your home, the commute is probably about 10 seconds or less! Compared to the commutes that many people currently have, this is truly one of the benefits of a home business. This alone was a major factor for me considering I live in an area where the average commute is one of the longest in the country.
Physical location – Most people will locate their businesses in a spare room in their home. That way, you can separate your family space from your business space. Another benefit is that you don’t need to incur the additional expense of paying rent to lease an office. Many people can run their businesses with a laptop, Internet access and a cell phone. As a result, they can run their businesses from the backyard (while the kids are playing), pool side or from the local coffee shop. If you are the boss, you can make the rules!
Tax Advantages – When you start a business, you also qualify for many tax deductions that are not available to non business owners. Some of the expenses associated with your car and home may be deductible if you run a business. Many business owners that maintain a home office are able to take a deduction for that as well. Consult your tax professional to determine what tax deductions you qualify for.
Time with family – This is a huge reason why people begin home businesses. Since you get to set the schedule for your business, you can decide when you work and where you work. What that does is give you the flexibility and freedom to work when you want to work. You can make the business fit your life as opposed to making your life conform to a work schedule. No more missing the kids school plays. Wouldn’t it be great to go to school in the middle of the day to have lunch with your kids?I’ve outlined just a few of the many benefits of owning a home business. These were the things that were attractive to me when I considered becoming a business owner. I am glad that I moved forward with my decision.

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