There are ton of advantages with starting a home based business, however, there are few that worth mentioning.

You are the BOSS

By starting your own home based business, you have the change to become your own boss, you do not have to report to anybody else in your own company, you have the freedom to make decision and you accountable for whatever decision you made, either gain or loss.
By the means of having full freedom, you wear what you want, you start work whenever you want and you work wherever you want. As long as the deal between you and the customer is done and the customer satisfy with the service/product that you provided, you can even work in your house’s bathroom if you wish. Personally, i think the best is you do not need to involve in the office politic.

You have the right to earn more

Start your own home based business may not bring you a good wealth, but in some situation, you have the potential to earn more than what you earn from your full time job. If you work for somebody else, you probably generate more sales for the company by working longer hours, and in return you earn more commissions or OT pay. If you work for your own business, you can probably double up the sales revenue by hiring more people to work with you, if your employee is able to generate as much sales as you can generate during your work with other company, you are doubling up your income. As your home based business is established over time, you can slowly expand the business by generating more services/products and it can greatly increase your personal income and equity.

You work within your own pace

One of the most influence factor to start a home based business is have the ability to work at home. By working at home, you probably have the chance to pick up your kids from school, meet your friends and even wash your own car if you wish. By setting up your schedule effectively, you will have the chance to enjoy more time on your personal interest without losing the business. By starting your own business, you have the change to set up your own home office where you have no right to do so if you work for others. Develop your home office wisely and equip with only necessary equipments.

Tax benefit

This is one of the best advantage in term of financial benefit, by running your own home based business, portion of your utilities bills are tax deductible against your business revenue, the same applied for transportation and education for business purposes. However, you will still have to pay for self employment tax. For more information, please refer to your local taxation department.