Owning a business can be emotionally fulfilling and financially enriching. Tens of thousands of new ventures are started each year. Ecommerce businesses frequently require less capital and less time to start than brick-and-mortar retail or service operations. So why not get going?
Certainly starting an online business is not without its trials and pitfalls. But for every reason someone could name not to start a new ecommerce-based business, there are plenty of good reasons to go ahead. What follows is a simple list of seven reasons to start an ecommerce business.
1. To Get More Independence
Almost by definition, the self-employed have more independence and more control over their vocational destiny than folks that work as an employee. Certainly, someone might argue that employees can “turn off” their jobs, while entrepreneurs are “always on.” But conversely, a small business owner will have a lot more schedule flexibility and control of when and how work is done.
The owner of an online business will also enjoy more creative and management freedom.
2. Because You’re Passionate
Owning your own business gives you an opportunity to do what you love.
Some of the best ecommerce entrepreneurs are passionate about their industries. If you love hunting and fishing, opening an online store that sells high-end outdoor gear, provides an opportunity to be submerged in an industry you already love.
Likewise, if you’re an avid scrapbooker, an ecommerce business that deals with scrapbooking goods, could be a great way to earn money while doing what inspires you.
Even a passionate accountant could find outlets for that passion in ecommerce-based services or software businesses.
3. To Make Extra Income, or Become Financially Secure
Although no business is guaranteed to be a success, owning a business can be an excellent source of income that is proportional to investment. In fact, according to 2007 U.S. Census Bureau small business data, which is the most recent available data of its type, something like half of small businesses earn more than $100,000 in revenue annually.
4. You Want To
There is something to be said for getting your own way. Perhaps, one of the best reasons to own your own ecommerce business is simply because you want to. Even if you cannot define specifically what’s driving you to consider opening a small business, you can acknowledge that it is just something that you want to do.
5. Get Tax Benefits
Owning a business can have a tax benefit. For example, an ecommerce business based in your home can mean that a portion of mortgage payments, utility bills, computers, and even furniture may be deducted from your tax liability.
While it does not make sense to open a business for these reason alone, there is nothing wrong with talking to your account about business-related tax benefits that could reduce your IRS liability.
6. Pick Who You Work With
Anyone who has ever had to work with a “challenging” co-worker should be able to recognize value of being able to choose the people that you work with.
Surrounding yourself with people that you sincerely like, and whom you may have hired, can make all of the difference in your working life.
7. Never Get Laid Off
Given the economic problems of the past couple of years, never having to worry about getting laid off may be just the reason you need to start an ecommerce business.