5 Reasons to Start a Home Based Business Today

Never before has it been not only easier, but a better idea to start your own home based business. With the explosion of the internet in the last 20 years, more and more people have been able to start a home based business out of the comfort of their own home. Many people simply start out with a desk and a couple of supplies from the comfort of their own bedroom, while others build on additions to their home or renovate their garage into their own business center. No matter which way you go about it, now is the perfect time to start your own home based business. If you are in doubt, here are 5 good reasons why you should start your own business today.

Taxes: Not only are there tremendous tax benefits and advantages of starting your own business, but there are also plenty of write-offs that you can use to your benefit. Gas mileage, cell phone use, internet access and even a section of your home may be used as a write off when starting your own home based business. Make sure to consult an accountant or do your own research to learn about the important write offs that you can use. Remember documentation is the key when dealing with the IRS, so make sure to keep all receipts and document your mileage.

Economy: The once stable economy has gone totally downhill in the last few years. Back in the 1990s and previously, it was common for a person to work for a company for 30 years and then retire with a great retirement package. Postal workers, teachers and government workers who once had a stable future are not being laid off at ridiculous rates. Also, the unemployment rate has consistently stayed above 10% for the past 5 years.

Freedom: Many people choose to open their own home based business just for the fact that they have no one to answer to when it comes to their job. Home based businesses are for people who are willing to be on their own and call their own shots. Many times a home based business owner will have to be an accountant, warehouse manager and salesman all rolled up into one, but they would have it no other way. Being your own boss allows you to hire people if you need help or subcontract your work to others.

Unlimited Earning Potential: At your company you can make as much money as you are capable of in your given field. At a typical job you are limited to your hourly salary or the commissions you may get from making a sale. When owning your own business you make all the commissions on sales and you have unlimited potential depending on your field.

The Internet: The Internet has become a goldmine for many people starting their own business. With the introduction of software companies, websites and online resources there have been more millionaires than ever because of the explosion of internet use. Companies such as Facebook, MySpace and Google have gone from ideas to billion dollar businesses in only a few years. While everyone will not have the resources are ideas to create empires like these, there are still plenty of businesses that one can earn a good living from online.