The Top 7 Benefits Of Starting A Home-Based Business

Mar 27, 2020

A solopreneur who's working at an office is different from a solopreneur who works from home. While there are pros and cons for being one of the two, the home-based solopreneur has better perks. What are they? Let's discuss them in this article.

1. Less commuting and working expenditures plus more time

Traffic and gas consume more time and money. Meanwhile, solopreneurs who work from home only have to do their morning routines and are good to face the day with pajamas on. A home-based solopreneur also can choose to work at longer working hours giving him or her more time to accomplish tasks.

Did I mention food? Yes, you don't have to spend more money on coffee and food from eating out if you works from the comfort of your own home where supply is abundant. In summary, you can save a LOT of money this way.

2. Flexible working hours

Office space-renting solopreneurs will always try to arrive at their offices on time or earlier to maximize their expensive rent. The home-based solopreneur, meanwhile, can choose to work full-time hours, half-day, or not work at all. What’s better is that you'll be able to work at night if needed.

3. Tax advantage

Compared to office-renting solopreneurs, home-based solopreneurs can deduct home operations and depreciation expenses from their home expenses. These deductions include a percentage of their mortgage, property taxes, insurance, utilities, and the expenses of household maintenance. In short, a home-based solopreneur can unify his or her home and office expenditures into one for lower tax payment.

4. More opportunities for professional growth

Corporations have fewer working opportunities as one employee can only focus on 1-3 responsibilities. As a home-based business owner, you can fill the hat of different workloads giving you knowledge, wisdom, experience, and expertise opportunities in different aspects.

5. Lesser financial risk

A business run from home requires a very small amount of startup money to create, maintain, and expand. It’s much cheaper than renting a building or space in a separate location. A home-based business is also so flexible that expansion and reduction of area, logistics and employees can be done at a whim without much cost.

6. You get most of the benefits

Every profit you earn goes to you alone (aside from the IRS or your employees if you have some). You take all the praise and positivity from satisfied customers. The harder you work the better pay you have and nobody else can take that away from you. Earning and profiting are proportional to your performance and back to #1, it can even multiply exponentially with less cost for food, gas, rent, or time spent involved.

7. You’re the boss

You answer to no one but yourself. You take the credit for your hard work. No one will tell you when to clock-in and to clock-out. Who wouldn’t want to be in control of their own professional business career? You wouldn’t bust your head off on an 8-5 shift just to sit at the top since you’re the one at the top to begin with.

If these reasons can’t inspire you to start your own home-based business, then I don’t know what will. But if you want to achieve more in life, now is the perfect time to rediscover your talents and passions and turn them into hard-earned cash. What are you waiting for? Start your home-based business today.