Various Advantages and Disadvantages to a Home Business
There are a variety of advantages of having a home based business; furthermore, there are a lot of disadvantages to one as well.
The following is a list of advantages to owning a home based business:
Stay at home: A home based business means you are able to work from the comfort of your own home without having to leave to go to work. This would be ideal for the stay at home parent who either chooses not to work or is unable to work due to childcare issues. Staying at home to work would also be beneficial to those suffering from a disability or an illness which prevents them from being allowed to get a regular job away from home.
Choose Your Own Hours: You may choose to work as many or as little hours as you want. In choosing your own hours, you can also choose which days you want to work and which days you want to have off. Depending on the type of home business you have, is whether you should employ regular business days and hours; such as 8a.m- 5p.m., Monday- Friday. Regardless, it is your business, and you have the ability to choose when and for how long you want to work.
Choose Your Own Wages: You have the ability to choose how much you get paid for products sold or services rendered. Although having the ability to choose your own wages has advantages, it can also have just as many disadvantages.
The advantage of owning a home based business is rewarding at best; however, the disadvantages of a home business are depressing at times. Below are some disadvantages to owning a home based business:
Insurance: You are responsible for carrying your own insurance policies when running a home based business. This can be costly at times, but it is a necessity if you choose not to work with a corporation that offers insurance. You will need insurance for health to cover you and any employees you may have, and you will also need insurance to cover the products you are selling in case of damaged items.
Choose Your Own Wages: The disadvantages to choosing what you are paid lies in a variety of factors, such as other company costs factored into the prices of your products or services rendered. You need to make a profit from any monies coming in as well as maintaining your business.
Legalities: A home business is similar to any other business in the sense of it being legally operated. You must have a name and get it registered with your local government, you have to have your taxes and finances neatly sorted out, and you must carry insurance in order to run any type of prestigious home business.
Although the disadvantages of owning a home based business seem to put you in a downward spiral out of control, the advantages to it are most rewarding.