3 smart reasons to start your business from home


3 smart reasons to start your business from home

If you are a parent and you are looking to set up your own business, then chances are that you are going to want to weigh up whether or not you want to do this by finding yourself a little office space or simply setting up one at home.

Whilst working from home isn’t always easy, we think that it is a great idea. There are a variety of benefits to working from home and to help you to understand why it has become more and more popular, we have put together the 3 smart reasons to start your business from home.

Flexibility

One of the main benefits of owning your own business is the flexibility that it provides. Whilst at times you are still needing to work long hours and dedicate time to your dream, you can do so from home. This means that you are much less likely to miss out on time with your friends and family.

You can set your own hours, work when you need to and just generally be in charge of your own diary. Something that you may not have been able to do whilst you were an employee rather than an entrepreneur.

Tax Benefits

No-one likes having to pay tax, so for those who are keen to find ways to reduce the amount of tax that they have to pay, they might want to consider working from home. There are a number of tax benefits that you can obtain if you are someone whose business is based within their home. This can be a deduction for the costs of heating your home as well as keeping the electricity flowing.

These tax benefits can be worked out as a percentage and given to the Self Assessment Office, or if you are not able to work it out then you can also claim for a specific sum for every month that you work from home.

Reduced Overheads

Running a business can be expensive. Particularly when you think about those overheads such as rent and bills. When you first set up your own business there is a good chance that money is going to be tight, particularly if you have given up your own work to follow your dream.

This is where working from home is really going to help you. One of the most obvious benefits of a home office space is that you have much lower overheads then you would if you were based in an office. The heating, electricity and other utilities are already covered as part of your house and despite the fact that you may find that the bills go up, but they are nothing compared to opening up an office.

Working for yourself and setting up a business is not an easy feat. Why not make things that little bit easier for yourself and work from your own home to start with? If you find that over time you need an office space then at least you will be well established and be ready to take that next, all important, step.

Find out more about our start-up course for parents here. 

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