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Home Based Business - The Advantages And Disadvantages Of Working For Yourself
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There are many reasons why people choose to start a home office, however working from home can have some advantages and disadvantages, which must be considered before starting this venture. Working from home, could be really great, but there is a downside to working from home too.

The Advantages of working from home:

Traveling costs:

You are saving on traveling costs. Whether you are five minutes or an hour from work, if you have an office away from your home, it will cost you in time and money to travel there and back.

Fixtures and building plans:

You have full control over decor and building fixtures. If you want to change the building plans you can without getting permission of a landlord.

Cost effective:

Working from home is the most cost efficient way out there as you would have no expenses towards letting fees.

Quiet and peaceful:

Your home is probably based in a residential area and with most of the occupants at work during the day - you will experience a noise free working day, where as, in the city, you would be exposed to the noises and pollution of the city.

Saving on wardrobe:

By not having to dress up for the corporate office very day, you will save on expenses associated with a working wardrobe. However, should you meet with clients face to face in any way, you can stretch your current wardrobe as much as possible by just adding a few things here and there as you will not see the clients every day.

Disadvantages working from home:

Disturbances from family and friends:

When one is working from home, is often seen as you are a stay at home parent and that you are not really working. It could potentially be difficult to get the children to understand that you have chores and responsibilities within certain hours, which you have to determine yourself.

Salary of wage not being fixed:

Your monthly salary as to working for a boss being fixed suddenly fluctuates. Disadvantage, working from home is also that you no longer have benefits like pensions, medical aid and bonuses.

Accounting:

You will either have to do your own accounting or get someone to do it on your behalf and you will need to open a business bank account. You will also be responsible for doing all your own administration duties. You will be responsible for doing your own taxes and might even need to hire a contractor as being an accountant.

Insurance:

You might have to look at taking out business insurance, which could be costly.

No paid time off work:

Sick leave, family responsibility leave and annual leave will no longer exist for me.

Hours of work:

Your hours of work will no longer be fixed. You will have to make a working schedule to define what will be working time and what will be family time, otherwise you will find yourself working 24-7, less the bit where you will have to sleep. In the beginning, one can be super excited and work too much. You might work so much that you run the risk of burning out, by overdoing it. Every human being wants to succeed, but you have to still take your heath into consideration.

More responsibilities:

Unfortunately with getting more responsibilities as a business owner you will also be getting more stress. You will have to have a clear guideline and work on regulating and managing your stress levels, not to have it negatively influence your family life.

Job security will be something of the past:

With the current recession and job losses increasing from day-to-day, having your own business, working from home, will mean that you will have to work a lot harder at making it work and ensuring your success and income. This also means that you will be responsible for your own marketing.

Before you consider starting working from home, one should always look at all the advantages and disadvantages. You might be forced to start a home based business due to recession, job loss, being retrenched, or just being dissatisfied with your current employer and you want to fire your boss. There are may work from home opportunities and you should, do your homework to prevent being trapped into a scam.

Learning to make money online with the internet could be such an opportunity that could help you in making your financial freedom a reality. Just be careful and do your research before hand to save you a lot of expenses and headaches. If you are looking to make money fast, do not fall into pitfalls that could cost you.


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