The first and most important advantages that come to mind when planning to start a home business are lower overheads, flexibility and time with the family. Operating a business from home successfully depends on the nature of the business and the aptitude for the business. Many companies offer franchises for business persons to offer goods and services from the comfort of their home. However a franchise is convenient only if it naturally meets a demand without forcing the goods and services on customers to meet a sales target. Some franchises are scams and should be checked with the Better Business Bureau.
Setting up a home business is advantageous, but it comes with hurdles that should be sorted out before jumping in head first. A room or two in the house has to be dedicated for the business, and non business related distractions (i.e. small children, visitors, pets) should be kept at a minimum. The neighbors and the neighborhood should not be disturbed by the running of the business. There could also be local government and other restrictions in running a home business in a particular residential locality. Some local governing agencies restrict what kinds of businesses are allowed, as well as other restrictions (such as number of employees are allowed). Once these issues are sorted out the business can be strategically run on a flexible schedule combining family and work responsibilities without the workplace power struggles and red tape.
A home business under IRS guidelines gives the advantage of many tax deductions. You would be surprised at all the things that can save you money! Running an office at home by dedicating a space for office purposes is tax deductible. Other deductibles include home office repairs, mortgage interest, property taxes, business phone expense, internet service fees, security costs, and software purchased for the business, to name a few. A partial deduction can even be obtained on the home owners insurance. Even tax preparation expenses, monies spent on learning skills for the business, business entertainment and transportation costs are all deductible expenses.
With the advent of the internet, a home office requires a chair, table and a computer to start. As the business grows, employees can also work out of their homes on their computers. The boss and the employees can spend quality time with their families without compromising on their work schedules. An intranet network can help co-ordinate the working of the business and smaller jobs can be given to virtual assistants. The investment and the inventory are usually inexpensive. Work does not have to stop while on holiday or while traveling.
A home business offers a family friendly alternative to conventional businesses. The maturing time of the business can take anything between six months to two years, but every moment will be filled with value. Office hurdles of retrenchment, down sizing and idle competition are eliminated. Achievement is instantly rewarded. There are no long waits for promotions or raises. Work is sourced from and outsourced to business owners, making a happy network of self employed and satisfied work persons.
Ramiro Trevino is a successful home business entrepreneur. To find the best home based business ideas and opportunities so you can work at home visit: target=”_new”>Work at Home Business Online Opportunity
