5 reasons to start a side business

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The business world is a tough place and starting out can seem like a challenging prospect. However, there is no reason why this shouldn’t be achievable, even if you only start this out as a side business alongside your full-time job. Working a 9 to 5 can be time-consuming but you also have plenty of opportunities to make a good go of your business during your spare hours. It depends whether or not your side business will take a lot of time or resources, but there is great potential for you to grow it into something great during whatever time you do have to work on it.

So, what are the five best reasons for you to start your very own side business in 2018?

1) Extra Support

Life has a funny way of throwing curve balls at you. So, being prepared for anything is vitally important. You could have a perfectly stable job one day, while the next you could be cruising into unemployment. For this reason, having a side business could be the difference between being able to pay your rent at the end of the month or not.

2) Passive Income Stream

Earning money is not always easy. Especially as, for the most part, there never seems to be enough hours in the day to earn, relax and actually enjoy yourself. Leisure time is necessary for fun, but it also detracts from your ability to earn. Meaning you need to find a way to make these ‘relaxation’ hours work for you, without you actually having to do anything during them.

Making money whilst doing nothing may seem like a fairy tale situation, but it is possible if you create something known as a passive income. An income stream that is constantly working for you even if you are not. The way to achieve this is varied and depends on your skillset.

3) It Could Flourish

One of the best reasons to start a side business - especially when you have the comfort of a job to support you - is the fact that your small venture could take off. What starts as a side business could grow, turning into something much bigger and perhaps much more profitable. If this were to happen it would take a lot of work and perhaps even time, but it could also present you with a number of amazing opportunities.

4) Your Time is Worth More

Have you ever noticed that in a 9 to 5 your time doesn’t seem to be worth much to you, while your employer makes triple what they give you (at a minimum)? It can be a disparaging reality to face, but one that many accept. But, should you really have to? Whilst running a side business you get to decide how much your time is worth and this can mean a great amount more in your wallet as a result.

Of course, the more your time is worth the more you will need to protect it. This protection can come in many forms, but more than likely you will need something like contractors insurance which is provided by a number of companies, for example, Caunce O'Hara. It may seem like an unecessary step, but when everything you do could potential lose you the chance to make more revenue then protecting your income in this way is vital. 

5) Work Anywhere, Anytime

The best thing about having a side business is that working becomes much more flexible. Extra money means extra work, but you can fit it into your life wherever it best fits. An hour or two in the mornings on the weekend, or on your off-day from your normal day job (if your hours are slightly more flexible than the regular 9 to 5).

Many people choose to travel as they work when it comes to running their very own side business. Especially as a global office makes them very accessible to people across the world, not just local businesses or those that are in your vicinity. The internet is also great for this as you can talk to and work with people across the globe, making your side business an international business in the making.

Conclusion

At the end of the day, you don’t have to necessarily quit your job in order to start your own business. You can make money even with only 5 minutes a day to spare. And who knows! This time could lead to you quitting your job in the long term - the world is your oyster after all!