At the moment i have a problem with a new website i am making. The blog page looks exactly like my homepage with the same content. I was looking through other competitors in the niche and found they have seperate content on their homepage thats not on their blog. Are there any benefits to this?
Yes you get benefit from this as no duplicate content issue and on blog you keep on updating your articles and crawlers love new content...
don't make a mistake of posting same content on your blog as of your website, it will harm you in terms of SEO. just make out for new content for your blog and update it daily. as much you keep updating your blog it will grow in terms of SEO and also take your website up. any issues?
I would say you should have different content on every page else duplication of content issue will come. So it is really needed to have different content on every page. This will also create your positive image and will increase your good will.
Of course you should have different content! What on earth persuaded you to have the same stuff on both places? Very bad idea! Quickly work something out and correct your previous error.