Many people dream of dropping out of the rat race and instead working from home. While everyone has a different reason behind their desire to leave a 9-5 job, sometimes it can be difficult to choose which path to take starting your own home business.
A survey conducted recently by Microsoft in a white-paper, Work without Walls showed the top 10 benefits of working from home:
- Environmentally friendly (23%)
- More time with family (29%)
- Less stressful environment (38%)
- Quieter atmosphere (43%)
- Eliminate long commute (44%)
- Less distractions (44%)
- More productive (45%)
- Avoid traffic (47%)
- Save gas (55%)
- Work/home balance (60%)
Below we run through just a few of the advantages for Australians working from home and opportunities to start a home business.
6 Reasons Why You Should Work from Home
With folks working from home they can work the hours that suits their lifestyle. Are you a morning person who enjoy sports in the evenings? Well you can tailor your work day around your schedule. Are you a holiday living person, who can’t stand the Australian winter and would prefer to work from Bali in July? These options are just some of the advantages which working from home provides.
2. Lifestyle Flexibility
If you’re one of the lucky employees you have a manager that understands your lifestyle and allows holidays when requested and personal leave when issues arise. I say one of the lucky ones because in my person experience most managers were more concerned about their own lifestyles and employee satisfaction was a distant second.
When it comes to a company’s work from home policy, everyone is different. Your productivity and overall success entirely on your preferred work style. That’s also the reason it’s hard to find any solid data on whether or not people are more productive at home. Anecdotally, it seems to boil down to personality type and the job you do. We’re all different, and some of us can’t fathom getting work done with a TV nearby and all our comforts of home surrounding us, while others find it a struggle to stay focused among office chatter and other distractions.
3. Reduced Commuting Time
With modern cities becoming geographically larger commute times to and from business precincts are taking longer. When your home is your office, one can start working as soon as they’re finished their shower each morning.
The second advantage of this detachment from transport is one can live away from the hustle and bustle in sanctuaries like Byron Bay, Sunshine Coast and Noosa. Or if you prefer to stay closer to family on the outskirts of Australia’s major capitals. No only is housing cheaper on the outskirts but typically you’ll find much larger properties which you can enjoy with your family. That’s unless you prefer a two bedroom apartment!
4. Potential Tax Advantages
Remember the old saying, the rich get richer? Have you ever wondered why this is the case? One of the major reasons is because western nation tax systems provide fantastic tax relief for businesses. With the average Australian salary earner contributing $55,000 in taxation each year, compared to a business taxation rate at a flat 30%. Throw in the bonus of being able to offset income with expenses, from a taxation perspective small business owners have a major advantage over salary earners.
5. Less stress
The stress of commuting in bumper-to-bumper traffic at rush hour in many countries is extremely counterproductive and can lead to disgruntled workers who are already exhausted and fatigued before they have even started their work day. This is especially true where the workplace is far from the office. Other stresses often cited include unfriendly coworkers, a small work environment and constant distractions.
6. Low Business Overheads
Let be honest, modern homes nearby always have a dinner table and an internet connection available to work from. Many of the home business ideas which we’ve listed allow for low expenses, when also combined with the fact you will no longer require a regular bus or train ticket for commuting into the office, quite often home business owners find their living expenses are drastically lower than when they were working a salary job.