2017 has finally come to a close and all businesses are now preparing to start 2018 with a bang. With the markets going up and unemployment slowly going down, there are lots of positive things to expect this year. One of this is the rise of home businesses. In 2013, there are over 3 million home businesses registered in the UK alone. That is around 60% of all businesses in the United Kingdom. And while Britain’s homes are much alive with the sounds of business, the USA is also part of the growing home business owners.
The growth in the numbers of rising home businesses is increasing, raising over 1.1 million trades in the last 20 years. It has been reported that approximately 500,000 more home businesses existed in 2010. More and more business owners want to grow from home too, which is why the statistics are continuously rising even up until this year 2018.
According to recent polls conducted, over 40% of Americans now have some part of their jobs from the comfort of their own home. Both employees and employers get something from working remotely. And as technology continues to eat up this world, different collaboration software and chat programs are now making remote work more feasible for most white collar workers. Most employees love the flexibility and some researchers believed that unconventional work hours could actually help close the pay gap. Companies, on the other hand, permits remote work, as it will also help them able to cut down on their real estate costs and in order for them to retain and even attract employees.
Most people are now choosing to run their own home-based business. Here are some of the advantages of choosing home business as your smart choice for the source of income.
- No Need to Commute. This is one of the most obvious reasons why lots of individuals choose home business: there is no commuting necessary. Imagine a day where you spent sitting in a car, a bus or at the subway while fighting your way to work. Home-based business owners don’t need to do all of that, for their commute is consists of just walking down a flight of stairs.
- Lower overhead. If you are a home business owner, chances are you do not need to spend buying or renting business premises, thus, making your overhead lowers considerably. There will be no separate office to maintain or rent. This will help you save money on other miscellaneous such as utilities, licenses or taxes.
- Advantages of income tax. Yes, you heard it right. When you run a home-based business, it will be a great way for you to recoup some of your business expenses. In some cases, you just need to reduce the income tax amount which you have to pay.
- More quality time with the family. Operating a home business gives you more flexible time with your family, especially if you have children. When they grow up, you also might employ your sons or daughters in your business for it is completely legal to do so.
The rise of home business will continue not just this 2018 but also for the next years to come. If you’re planning on shifting from office-based to home-based, then this year might be the perfect year for you.