The US Bureau of Labor Statistics reports that 4.12 million American entrepreneurs run a business from home. Are you considering becoming a work-at-home entrepreneur? Here are Business Owl’s top three reasons to work from home…
Working from Home Increases Productivity
According to a recent study published in the Journal of Family Psychology, published by the American Psychological Association, home-based workers are able to work 19 hours a week more than office-based workers, before feeling the effects of work interference on their home life and social relationships. And not only do home-based workers tend to work longer hours than their office-based counterparts, but those hours are used more effectively. While an office worker might work an official eight-hour day, a substantial proportion of that time is wasted on non work-related activities. In fact, a survey by Salary.com found that the average American employee whittled away up to two hours of their eight-hour working day. In addition, says Salary.com, office workers cite office politics and doing other people’s work for them as major obstacles to productivity.
As the old adage says, time is money. Running a business from home eliminates these great time-wasters:
- The office commute
- Office politics
- Mind-numbing office meetings
- Visitors popping into your office to chat.
Working from Home Lowers Overhead Expenses
Starting a business can be an expensive exercise. Overhead expenses include costs like office rent, utilities, telephone and internet and office supplies. Running a business from home, instead of from fancy corporate offices, can reduce your overhead expenses, and this can mean better cash flow and more chance of success. The savings you make can be ploughed right back into your business. Running a business from home means:
- Subsidised rent and utilities bills
- Reduced transport costs
- Your business’s products and service are more competitively priced.
Working from Home Means Greater Workplace Flexibility
Anyone who’s ever been a corporate slave is well aware of the constraints of working in the corporate environment. As a corporate employee, you have to fit in with the corporate machine. Not so as a work-at-home entrepreneur. Running a business at home, you get to:
- Take ownership of your own creativity and implement your own ideas
- Choose with whom you work
- Create your own job description, making money by doing what you love
- Create your own working environment
- Organise your time as you see fit.