For a wide range of reasons, in the last decade the growing world-wide trend has been to start a work at home business. Some of us can remember how our parents worked for the same company for a lifetime, collected a gold watch after 25 years of service, and retired at sixty-five or thereabouts to live in reasonable security on a company pension.
Those were the days before the current recession, and before inflation became the bugbear of investments, and companies started switching to providing provident funds, leaving the employees to carry the risk of providing their own pension. Huge unfunded deficits still linger around the world where many companies and state pensions are massively under-funded. The old concept of a guaranteed pension has completely disappeared.
Retrenchment was an almost unheard-of concept until comparatively recent times, and it’s becoming more and more common for an individual to be retrenched two or three times during their working lifetime.
What all of this means, is that the old idea of aiming for the “security” of a job with a large company no longer exists. The old paternalistic approach is gone, forever.
Because of this, it has now become prudent to take responsibility for yourself, your life and your future, because your employer will no longer be responsible for you! There is no shock quite like that of being called into the boss’ office only to be told that your services are no longer required, and your severance package is ready for collection at the pay office. And in this global economic downturn it has become an every day occurrence.
If you’re unprepared for this, the sudden realization that you no longer have a job, and that you’ll have to make massive changes merely to survive financially is extremely traumatic. The emotional shock can cause irreparably damage, with severe loss of self esteem, and feelings of failure.
All of this is not meant to sound like doom and gloom, it is meant to portray the unfortunate reality of ones working life today. How different these feelings would be if the individual had contingency plans in place well in advance. If before the dreaded meeting in your bosses office you had started an online home business.
Starting a traditional business involves a number of overheads which could eat into your capital and the chances of being able to replace it are slim without a job. Starting an Internet home business cost much less than starting a traditional business. Most of what you need are already available in most households. If you work constructively and plan well, it is possible to make much more with an internet home business than you were making at your job.
These are perhaps some of the most important reasons to start your own home business. You can start your online business part-time, so you can make provision for that dreaded day, should it arrive. If the day doesn’t arrive, it’s extremely comforting to have another plan up your sleeve, just in case and the added bonus of making extra money while you are still employed is another huge advantage!