During the recent economic troubles of 2008, many people turned to self-employment when they couldn’t find jobs. Although the situation isn’t quite as dire as it once was, many people are still choosing self-employment over getting a job according to New Geography. The reasons why are varied. If you’re still on the fence about self-employment, here are five reasons why you should think about starting an online business from home.
1. You’re as Employed as You Want to Be
Businesses lay people off when the economy starts to go South. It’s a common practice, even with the biggest and best companies. However, once you are self-employed you won’t get laid off. You always have the option of looking for more clients and improving your revenues. This trend toward self-employment seems to be the trend for the future.
2. It’s Easier to Start
Starting an online business from home doesn’t necessarily mean that you need to buy a bunch of equipment or assets. At-home businesses like writing, graphic design, or video editing cost much less than other businesses do by their nature. Therefore, unlike owning a franchise or some other kind of business, the start-up cash required to the online business costs a great deal less. This allows people with smaller budgets to enter the workforce as self-employed professionals.
3. Choose You and Your Business
Working for the man is a common joke of the average worker. Getting a job means that you’re putting money in someone else’s pocket over the long haul instead of yours. However, working for yourself means that you’re putting time and effort into creating and building up your own assets. Starting an online business from home allows you to do just that.
4. Make a Part or Full-Time Income
Not all people are interested in starting an online business from home need to make a full-time income. Certainly, some do, but some people who start companies do so because they just want a few hundred extra dollars a month or they want some extra money to invest in retirement or their children’s college educations. The beauty of an online business is that it allows you to work around your current work schedule. No need to ask your boss for time off to go to another job. You simply need to log onto your computer when you have some spare time and start working.
5. Pay Less in Taxes
Another reason why people think about starting an online business from home is for tax benefits. While many people know about some of the obvious write-offs like phone expenses or rent, there are others that people don’t really consider. According to Entrepreneur Magazine, business owners can also deduct things like business travel expenses, association memberships, continuing education costs, and the costs of attending trade shows to name but a few.
If you’re one of the people who has thought about starting an online business from home, you’re in good company. Since the recession of 2008, many people have left traditional jobs and joined the self-employed. Although the economy is steadier now than it was several years ago, the benefits of self-employment still exist. Among them are tax breaks and the ability to control your own destiny. Why not try self-employment, even part-time at first? It could be in your best interest, in the long run, to do so.