Home Businesses Grow Up

by Ed Martin on January 11, 2010

It used to be that having a home business meant that you sold something out of your garage or at flea markets, or maybe you had an office in your den where you sold insurance or did taxes. Times have changed, though. The SBA says there are now over 15 million home businesses in the US. That is more than half of all US businesses. Of these over 6.5 million provide at least half of their owner’s household income. Or taken from another view, about 35% of small businesses that produce 50% of their owner’s household income are home businesses.

Home is Equal

Here are some more eye opening facts from a study from the Small Business Success Index.  About 35% of these successful home business have revenues over $125,000 and 8% go over $500,000. The SBSI study shows that home businesses have just as much access to capital as other small businesses. They also score similarly to other small businesses in terms of marketing and innovation, computer technology, and customer service.

Home and Not Alone
Did you know that home businesses employ 13 million people? If I’ve done my math right, 2.5 million home businesses have at least two employees and over 650,000 have over 5 employees. All together home businesses employee 1 of every 10 private sector workers.

Thank the Economy
Improvements in technology and changes in the economy are driving forces for the growth of home businesses. Technology advances lower the costs and entry barriers to having a successful home business, while at the same time the economic downturn has tossed lots of bright people out of jobs. These very motivated folks are turning in ever greater numbers to home businesses as the best way to work, and it looks like this is becoming a permanent trend.

So embrace your inner homepreneur. Join the revolution. Get started today all from the comfort of your easy chair.

More Info

Here are few more articles dealing with this topic
The Home: A Great Place to Start – And Run a Business
A recent SBA study
Why should your business remain home-based?
The Rise of the Homepreneur

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