Ok, so working from home has to be the way forward doesn’t it?
Well working from home may not suit everyone, but there are some definite advantages to it – especially when you’re working for yourself. Here are the first six we could think of (in no particular order):
1. Personal Freedom
There’s no doubt that the most appealing aspect of home working whilst being your own boss it the freedom it brings to set your own hours and claw back some control over your life that your wage-slave peers don’t have.
You have the ability to make your own schedule, with no corporate culture to acknowledge and negotiate. It’s the perfect option if you’re juggling family with work commitments because you can work when you get the chance, not in a rigid 8 to 6 routine.
It’s not all a bed of roses though – there are some drawbacks to all this freedom. The work-from-home entrepreneur will need to develop some good time management skills – if they don’t already possess them, that is.
2. Financial Benefits
Having a commute of 15 steps rather than fifteen miles not only has a beneficial effect on your health and wellbeing, it is also great for your bank balance too. With the cost of the average train commute at around 13% of average earnings (£4,500 in real money*) there’s no argument that you’ll be better off working from home.
This cost saving extends to other areas too. No need to splash out on an expensive wardrobe when, most of the time, you can work in your onesie. You can also get income tax relief on your rent/mortgage, utility bills, repairs and more as a legitimate portion of them will be tax-deductible business expenses. You can also expect a refund on your vehicle expenses if you use it for meetings and other business related excursions. It’s worthwhile consulting a qualified accountant on this as the savings can be considerable and they will know what exactly you can and can’t claim for.
3. Family time is golden
Lots of people choose to work from home to spend more quality time with their families. Working from home allows greater flexibility for family members to help with running the business. It also means more time can be spent watching your children growing – and as we all know – you can’t get that time back when it’s gone – it’s literally priceless. And while your children get the opportunity to experience a work environment, albeit at home, parents can both work and earn while keeping an eye on the kids at the same time.
Working from home helps to simplify your life. It can reduce the stress which arises from the juggling of the professional and personal aspects of our lives. The flexibility of being at home and at work at the same time means you can dip back into the professional world after making dinner and putting your children to bed. There are no boss-imposed deadlines – you are your own boss remember?
This flexibility reduces the stress we all feel trying to juggle the loose ends of our lives and this can help with mental and physical wellbeing.
5. Job satisfaction
Working from home as your own boss means you’ll be constantly challenged in a variety of different ways which you may not have experienced before in traditional employment. You’ll be responsible for all aspects of your business and are free to learn new skills to suit.
You’ll find you’ll have a variety of daily activities which you can dip in and out of to prevent you getting bored or stale. As the boss of your business you’ll be the strategist, marketing department, customer service executive and accountant too.
You’ll find you develop as a professional as you learn new skills and have complete control over a business you know inside out.
6. Increased productivity
Less time on the train or in the car means more time working and greater productivity. Short bursts of highly productive activity have been shown to be more useful to business than the usual long 8-6 workday too.
What’s particularly important to remember is, when you work for yourself, your enthusiasm for the task at hand is always greater, as you’ll directly reap the rewards. So productivity increases as a result.
Chances are you’ll get so caught up in what you’re doing you won’t be able to stop.
*Source Unite Union news Jan 2018