May 25, 2020  
 
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Home Based Business and You

Written by Chukwuma Asala for Gaebler Ventures

Home-based businesses are quickly increasing these days. As an entrepreneur, working at home can often accommodate an already busy schedule. How can you capitalize on this?

When considering a new business, the location really will depend on the kind of business you are looking to start.

Why not start a home business? The home-based online business industry exploded with the advent of the internet in 1995 and has not slowed down since. The U.S. Bureau of Labor Statistics estimates there are now more than 18.3 million home-based businesses in the United States. Here are a number of reasons for choosing your home as the location for your business.

Tax write-offs

One of the greatest benefits of being in business for yourself is that you can write off expenses that are used to build your business. This is a great advantage for home-based business. Any part of your home that is used for business can be written off as a business expense. However it is best to attain counseling from an accountant before making any decisions.

Ubiquity

Manufacturers, consumers, and retailers now have global access to the internet market. Being in a home-based business also gives you the ability to be mobile. You can build your business from any location. Several corporate executives make millions over the phone while sitting on a beach in Hawaii. If your business is can be in your home; then it can be run from your laptop on the beach.

Flexible hours

When you are in business for yourself, you make your hours. You decide when you start and stop working. You can choose to work seven days a week, seven nights week, one day a week, two nights a week, etc. It is all dependent on you and how fast you want to grow your business. Another great aspect of flexible hours; you can be a part time entrepreneur. If you have one job, you can mold your business hours around the hours you're off of work.

No overhead cost

Home businesses are companies that require little overhead cost. Any bills you already have are the bills you pay for your business. Oftentimes, you are the employee you need to worry about. This means you don't need to fret over payroll or insurance. Home business is finally that option that lets you sleep on the job!

Chukwuma Asala is an international student from Nigeria who is studying to earn an MBA from the State University of New York in Albany. He has analyzed more than 20 industry case studies throughout his education thus far, and hopes to bring some of his business knowledge to Gaebler.com.

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