Top Benefits of Owning a Home Based Business

The benefits of owning a home based business are opportunities that people now more than ever are taking full advantage of. We are now living in very exciting times due to the world economy never being like it once was. Granted, for some it may be challenging with loss of jobs and high unemployment but, for home based entrepreneurs it is an opportunity to solve many more problems (particularly financial) for everyone who is open while generating massive amounts of money. The following are major benefits that all should take advantage of.

1. Liberation/Freedom- This is probably the main reason why most home-based entrepreneurs enjoy their business. It is an opportunity to have full control over your own life. As a home-based business owner, YOU are the boss, thus you can shape your schedule based around your individual lifestyle and ambitions. Time freedom is truly priceless. Just as equally exciting, is the potential financial freedom that it can provide because YOU determine how much you want to earn. This is especially true if you’re in a network marketing/direct sales type of business because it gives the business owner the opportunity to earn residual income.

2. Tax Advantages- There is a number of tax advantages when using your home as a place of business. From deductions on home, whether rent or own, to gas mileage, to everything else in between, there is a wealth of deductions for the home-based businessperson. Everything that you use to operate your business is a deduction. Some examples include: phone bill for talking with clients, electricity and internet to power the computer and reach potential clients through e-mail for marketing, gas reimbursement for going to meetings with potential clients, lunch for feeding clients, and this is only the beginning. However, please consult your Certified Public Accountant for a thorough evaluation of which deductions would be considered liable.

3. Empowerment- When you own a home-based business there is a whole new level of power that is yours. Compared to being at a traditional job or a traditional “brick and mortar” business, the home-based business entrepreneur does not worry about being told when to eat lunch, when to wake up in the morning to arrive by a certain time, deadlines, employee competence and trust, office politics, large overhead costs, or incompetent bosses. Rather, this privileged entrepreneur has full control over every detail of their life including flexibility with personal life. Granted, for some who are use to being in a “worker bee” mindset all of this control could be scary. Nevertheless, on days when it’s -4 degrees outside, when a child is sick and need caring for, or when paychecks are cut let alone pay raises, having a home-based business is priceless. More importantly, personal growth and development (the key to success) is greatly enhanced as you learn more about your business, others, and yourself.

These top benefits are only the tip of the iceberg. Although for many freedom and empowerment in every way imaginable is more than enough. As stated earlier, these are very exciting times where more people are choosing to take full responsibility and control over their lives and a large percentage are choosing to do that through being a home-based business entrepreneur. Consider the limitless opportunities that this growing movement can provide and be a dream achiever. Cheers to the home-based business entrepreneurs!