Home Based Business – A Rising Trend
The number of home based business is rising rapidly. With corporate downsizing and the current economic downturn, most people are exploring the new opportunities coming up putting the concept of telecommuting into use. There are quite a number of advantages that come with this especially for those who are looking for flexibility and a more balanced life.
Increased Work Time
It goes without saying that most people spend close to an hour a day travelling from home to their offices and way back to their homes. You have to grapple with daily heavy traffic issues, harsh weather and enduring hours of small talk with people you meet along the way. This does not only reduce your useful working hours, but it also leaves you fatigued and drained. When it comes to a home business however, all you need to take is a few steps to set up your home office and you will start earning your own money. You also do not have to worry about office close time as you can work for as long as your work permits. This leaves you with more time to respond to client phone calls, emails as well as handle other pressing business concerns.
Although working from a corporate office may offer a wide base of clientele drawn especially from the walk-in clients; home business allows you to take advantage of all the business tools that come your way. Internet marketing is one crucial tool that is being used by both small and large business organizations to increase their sales. Online advertising gives a home-based business organization to enjoy level field in-terms of access to the market. A small company can also effectively launch an online advertising campaign just like large corporate organizations.
Operating a home business reduces your recurrent budget as expenses such as rent, service charges and other major office expenses are reduced. For most companies, you will find that rent is a major component of the recurrent expenditure as it has to be paid regardless of whether the company makes money or not. The global market is driving property rates higher to an extent that startups often find it hard to put up businesses in certain localities and neighborhoods. A home based business eliminates this unnecessary anxiety and pressure.
Ease of Making Decisions
When you rent office space, you unintentionally make your landlord a part of your business. It hence becomes hard for you to make decisions about the business size without involving him. With a home business, the decision to upscale or downscale can be made easily as it does not involve other players. You can add more staff or reduces your staff size to suit the demands of your business.
It goes without saying that more than 50% of startups fail in the first year of business. With the current global market trends, it is hard for a new business to survive unless properly managed. In this age of internet marketing and advertising, home based business allows you to try new ventures without incurring huge outlay costs.