Ever dreamed of quitting your day job and starting a home business? Nearly one million entrepreneurial Australians say their primary workspace is at their residential address, and more and more are following suit.
So, what’s attracting so many to this non-traditional working environment?
- Work when it suits you
The 9 – 5 work day isn’t for everyone. You might find you function best at the crack of dawn, or get a lot of things done late at night, after everyone else has gone to bed. Having the freedom to control your hours means you can cherry-pick when and for how long you work. This calls for a bit of self-discipline, and an ability to separate your “home life” from your “work life”, but once you’ve established a pattern, you’ll find you have much more time to do the things that are important to you. For instance, you can make yourself available for the kids’ school pick-up, do some volunteer work one afternoon a week, book specialist appointments (without waiting months for the ‘before’ or ‘after work’ time slots) or even attend a mid-morning yoga class.
- Avoid peak-hour commuting
Recent data showed that city workers in Sydney spend an average of three weeks per year stuck in traffic, while those in Melbourne spend an average of 500 hours getting to and from work. That’s thousands of dollars in lost productivity, not to mention petrol costs and car mileage. When you don’t have to be at an office at 9am, you can avoid the peak-hour rush and spend that would-be-wasted time on your business (or even having a lie-in). Skipping the road conjestion means a more relaxed, unrushed start to the day for you, which, in turn, will put you in a better headspace to problem solve and get things done.
- Enjoy tax breaks
For those who run a business from their home, there’s an opportunity to take advantage of some tax perks. You may be able to write off a portion of the work-related expenses you incur, like travel costs, phone bills, internet, electricity and office supplies. Check with your accountant about what tax benefits you may be eligible for.
- Save on low overheads
When your business is operated from your home address instead of an office at a different location, you’ll have fewer operational expenses. Not only will you save on the hard cost of renting an office space, but you’ll also save on the transit costs of getting to and from work, cleaning costs and other incremental expenses that add up over time.
- Approve your own time off
When you’re your own boss, you can take time off when it suits you. With the complete autonomy of being a small business owner, there’s no need to wait to accrue annual leave, or submit a request form when you need a day away from the office. You can take every school holiday or public holiday off if you wish, and even treat yourself with the odd extra-long weekend, knowing you’ll make it up to yourself later. Even though it may be challenging to take extended periods of time away from your business in the beginning, as things get rolling, it will be easier and easier for you to make positive life choices and reward yourself to some well-earned R&R.
- Create your own balance
Finding the perfect blend of work and life is something that’s becoming more and more important to Australians. Working from home is a convenient solution which fits in with the demands of a busy family and lifestyle. Having the ability to juggle time with friends, exercise, health and leisure activities with your career goals creates a greater sense of job satisfaction and happiness, leading to increased motivation and productivity.
Interested in taking control of your life by starting a home-based career? Click here to find out more about a flexible, scalable Lorraine Lea business.