With increasing numbers of small businesses taking advantage of new technologies such as the Internet and mobile, wireless technology available to them at an affordable cost it is becoming much easier to establish a business from your living room.
According to the British Chambers of Commerce small businesses based from home appear to be thriving despite the current economic climate.
Enterprise Nation carried out a survey based on Home Businesses. The results showed that 5,500 people are swapping the daily commute for a home-based venture every week, funded using redundancy payouts.
The founder of Enterprise Nation, Emma Jones, has stated that the report confirms that
more people are starting up businesses from home due to the low costs and wanting a better work/life balance. She went on to say that basing a business from home is not an obstacle to growth as the internet has allowed small business owners to outsource work and collaborate with other talented entrepreneurs.
Let’s take a quick look at the pros of running your business from home:
- Personal freedom – you no longer have to spend hours in commuter traffic every day, there are no bosses you have to answer to, no dress-code, no office politics, etc.
- Less stress – from home you can set-up and stick to your own schedule.
- More time for family and friends – you set your deadlines and working hours.
- Affordability – since you are working from home you don’t have additional overheads to payout that having office premises would usually demand such as additional bills, commuting expenses, etc.
- Tax advantages – having your home and office under one roof means that you can deduct part of your home’s expenses such as your mortgage, council tax, insurance and utilities as business expenses.
- Increased productivity and opportunities for professional growth – being your own boss gives you the opportunity to take on all elements of running a business such as sales, marketing, business development and business analysis. In addition to this you no longer have to budget for time, energy and expenses for commuting, therefore you have more time and energy to put into making your business succcessful.
So if you are considering leaving work or you’ve been made redundant and at a loose-end then starting a home business could be perfect for you.
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