Why own your own business?

In the current economic climate, many businesses are downsizing or selling out and those that do stay in business are cutting back on employees and benefits.

So why start your own business now?

Here are our top five things to enjoy from being your own boss:

1 – Control your own destiny.  Alright, it might be up and down at times, but at least you won’t suddenly find yourself redundant with little prior notice.  If business does slow, then it’s down to you to increase your sales.

2 – Choose your own wage.  Once you start owning, your wage is up to you.  You work to make yourself better off, not a company.

3 – Flexibility.  Within reason, you can work to your own schedule and you answer only to yourself (and possibly your partner!)

4 – Tax benefits.  You will be able to save on tax, because items you need for your business such as the phone bill, office furniture and petrol can be put through the business as an expense.  Definitely get yourself a good accountant to help you with this.

5 – Enjoyment.  Most business owners choose an area they are passionate about or enjoy so they enjoy their work, work harder at it and are more productive.