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Thread: 5 Benefits of Starting a Home Business

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  1. #1
    Join Date
    Apr 2005

    Default 5 Benefits of Starting a Home Business

    Once the hectic time surrounding a move has ended, you may realize that a certain room or space would be perfect for designing a home office. This realization could easily lead to the idea of starting a home business. More and more individuals and families are starting businesses out of their homes for a variety of reasons. Consider these five home business benefits before making your decision.

    No More Commute

    Commuting to work or an office every day costs money. This isn't even mentioning the wear and tear on your car. Sitting in traffic or on the train day after day is a drag. Starting a home business not only will eliminate your commute, it will provide more time every day for work.

    Keeping an Eye on Your Kids

    If your kids are off school in the summer or not of school age yet, starting a home-based business can allow you to keep an eye on them during the day while still making money. Some entrepreneurs even go as far as hiring their children for various tasks in the business. This is particularly true for small manufacturing operations such as jewelry or other assembly line businesses. Even if you have home-based childcare, being home with your children during the day reaps a boatload of positive benefits for everyone.

    Tax Deductions

    Home business tax deductions are a prime reason to start working. This is particularly true for home-based businesses. The portion of your new home that is used for business activities is tax deductible on your Federal tax return. This benefit alone, even if your business does not succeed, creates a massive incentive for starting a home business.

    Reduction of Overhead

    Overhead means the costs associated with running any business. These costs are generally fixed and include rent, utilities, salaries, product costs and anything else needed to produce a profit. Having your business operated out of your home eliminates the need to pay extra rent, among many other overhead costs. Remember, cutting costs is the key to solid profits in any business.

    Ease of Testing out New Ideas

    New ideas are the lifeblood of all businesses. Whether these new ideas are marketing-related or for revolutionary new products, the reality is, most fail. The good news is all it takes is one to create great wealth with your business. When your business is run out of your home, testing new ideas is easier and cheaper than if your business had to pay for space. The reduction in cost makes testing out new ideas easier and more efficient.

    Keywords: business, business news, starting business, home business, home office
    Last edited by minisoji; 12-20-2012 at 10:01 AM.

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