The Home-based Business Start-up
10 Reasons to Start a Home-based Business
Our firm, Disability Associates has been helping entrepreneurs to start businesses for more than thirty years. While our focus is on the field of Social Security disability representation, most any viable business concept will work. Wondering why a business startup is so important?
The Covid-19 pandemic proved to be financially devastating for millions of Americans. A large number of people lost their jobs. Sadly, many others lost their lives. Consequently, this crisis proved that an unforeseen event can destroy lives.
Many self-employed people also lost their businesses during the Covid-19 crisis. Comparatively, those who could work from home suffered less. Moreover, an income from home proved to be a financial lifeline. The home-based business owner proved to be the most hardy among the self-employed.
Homebased Business Startups Thrived
The self-employed who ran their business from home were able to better weather the pandemic. This fact is the number one reason why a home-based business startup is so intelligent. Additionally, here are nine more reasons for a business startup:
2. Reduced Need for Employees
Staff is the most expensive cost facing most small businesses. Homebased businesses require fewer employees. However, this depends on the type of business you are running. For example, our firm provides Social Security disability advocacy which is a computer-based consulting service. In consulting, all of our staff can efficiently work from home.
3. Reduced Overhead
For many small businesses, the second most expensive cost is rent. Companies that had to limit capacity during the pandemic were devastated. A home-based business provides a two-for-one advantage. It enables the owner to occupy and operate a company. The owner can also avoid secondary costs such as utilities and facility repairs.
4. Greater Financial Adaptation
It’s far easier to reduce operational costs with a home business. For example, if you own a restaurant or repair shop, your fixed overhead remains when the business slows.
5. Pursue Your Passion
It is widely accepted that people are happier when they can pursue their passions.
6. Business Startups Require New Skills
A business startup forces you to pursue new skills. These new skills can be easily incorporated into a home business. Skills increase your income potential and your ability to succeed.
7. A Business Startup is Often Less Stressful
Not everyone thrives with someone looking over their shoulders. Many business startup owners feel liberated by their ability to find creative solutions.
8. Employment Stability
Business startups often weather periods of poor economics better than large firms. Thus, self-employment reduces your chances of being laid off during hard times.
9. Greater Flexibility
A business startup performed from home is extremely flexible. Therefore, it is easier for small business owners to adapt.
10. Computer Focused
The computer has changed everything concerning business. The most successful business startups use the computer as their main tool of operation. A computer enables you to perform your service. Computers also enable you to make products. Best of all, the computer is a powerful marketing tool. The key to finding a successful business startup is the computer.