There are many things that may be the primary and/or secondary reason to start a home business. People may only need extra money to supplement what they earn from their job, or even their social security/retirement income. Money just doesn’t stretch the way it did before, and the costs just to survive are increasing all the time. If you are locked into a ‘fixed income’ – whether by your job or by your benefits, you notice they are not being increased, if at all or not sufficiently to keep up with the cost of living. So a part-time home business would be a perfect way to take control of your own life and earn more money.
Or you may really be interested in becoming ‘self-employed’ – and there can be many reasons for this desire as well. You could be disenchanted by your career and realize that given the current economic situation in general, that you can only look forward to meager annual raises in your salary. You may realize that you are not likely to be promoted and that your current position is about as far ‘up’ as you can go in your company for various and sundry reasons. Going through all the same motions every day, going to the same job, taking the same route, expecting the same thing, “same story, different day” may have you actually feeling depressed.
Worse, you have seen a decline in the revenue over a long period of time and you wonder how your employer will deal with that. Or worse still they are actually stating that they will be cutting back on staff or ‘restructuring’, but you just don’t know what areas and if it will hit your department or position directly. If they haven’t warned about this – and they often don’t, one thing to look out for is when the managers and supervisors start leaving or transferring out. It may seem like a coincidence at first, and may even seem like they got ‘promoted’. Companies do not want to scare people as this will affect their bottom line as far as productivity and morale, and these are reasons why they probably won’t give you any warning.
Remember that they view it as positions, not people. While as humans they may have sympathy and empathy about taking someone’s job away suddenly, their job is to run the company (and appease their stock holders with dividends) and that is really their only consideration. Positions, not people. It may seem cut-throat but that is the reality. Business is in business to make money, not lose money or help out their staff.
If they are a half-way decent company they will at least give you pay in lieu of notice if you are suddenly faced with an undeserved ‘pink slip’. In any case, since in this case you have not done anything to get fired, and you did not quit willingly, you will likely qualify for unemployment insurance effective the day you receive your “notice”. States have their own laws and regulations so be sure to find out ahead of time what your situation would be. In addition a decent company will pay you for your vacation time or if they are really broke let you take your accrued vacation days before your termination date.
This all leads up to the possibility that you might want to start working from home in your spare time only to save some money. Wouldn’t it, given the situation described above, be great to know you have saved a few thousand dollars that you can use to live on until you are able to find a way to replace your income from your former salary?