Although running a business is not something easy, the number of people venturing into home business is on the increase, this is due to the numerous benefits one gets to enjoy. One of the many benefits is, competitive advantage. Since you do not have to pay rent, you can use the money meant for rent by injecting it back into the business, resulting in good quality products and services for your customers.
Personal freedom. This is another benefit that you will get to enjoy once you decide to run a home business. You can steer the business according to your goals and aspirations in addition to working at a time which bests suit you. However, you should have good time management skills and discipline in order to be successful.
Tax advantages. Since you work from home, you can deduct a fraction of your home and depreciating expenses as business expenses. It can either be the mortgage percentage or insurance.
Increased opportunities for personal growth. Because you are you are your own boss, you are able to sharpen the skills you have due to the different situations you go through as a home business owner. Hence, making you be better at what you do.
Finally, because of the home business, you get to strengthen and cement family and friendship bonds as this will be an avenue for your friends and family to chip in when the need arises as you bond.