During the recent economic troubles of 2008, many people turned to self-employment when they couldn’t find work. Although the situation is not as dire as it once was, many people still choose self-employment instead of 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 are as employed as you want to be.
Companies lay off people when the economy starts to go south. It’s a common practice, even with the biggest and best companies. However, once you’re self-employed, you won’t get fired. You always have the option to look for more clients and improve your income. This trend towards self-employment seems to be the trend of the future.
2. It’s easier to get started
Starting an online business from home doesn’t necessarily mean you need to buy a ton of equipment or assets. Home-based businesses like writing, graphic design, or video editing cost much less than other businesses by their nature. Therefore, unlike owning a franchise or some other type of business, the initial cash required for the online business costs much less. This allows people with smaller budgets to join the world of work as freelancers.
3. Choose you and your business
Working for the man is a common joke of the average worker. Getting a job means that you are putting money in someone else’s pocket for the long term instead of your own. However, working for yourself means that you are spending time and effort creating and developing your own assets. Starting an online business from home allows you to do just that.
4. Earn a part-time or full-time income
Not everyone is interested in starting an online business from home and needs to generate a full-time income. Certainly some do, but some people who start businesses do so because they just want a few hundred extra dollars a month or want some extra money to invest in retirement or their children’s college education. The beauty of an online business is that it allows you to fit in with your current work schedule. There is no need to ask your boss for time off to go to another job. You simply need to log into your computer when you have some free time and start working.
5. Pay less in taxes
Another reason why people think about starting an online business from home is for the tax benefits. While many people are aware of some of the obvious cancellations, like phone bills 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 just a few.
conclusion
If you are one of the people who have thought about starting an online business from home, you are in good company. Since the 2008 recession, many people have left traditional jobs and joined self-employment. Although the economy is more stable 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 being self-employed, even part-time at first? It might be in your best interest, in the long run, to do so.