Information technology (IT) has made it possible for e-commerce, and e-commerce makes it possible for more people to start their own businesses. Small, medium-sized, and home-based businesses can now compete more effectively in the global market.
The extremely low start-up costs, flexible hours, and the Internet are likewise fueling the growth of the home business segment. And it's showing no signs of slowing down any time soon!
"Most successful people have their own business. The popular saying that you cannot get rich working for somebody else appears true now more than ever."
- Home Business Magazine"At-home workers have more free time and disposable money for recreation and vacation time than clock-punchers and Americans at large."
- Entrepreneur Magazine"It is anticipated that by the year 2010, 50% of households in the US alone will beinvolved in a home-based business."
- Newsweek Magazine
Here are some statistics I've summarized from the NBBTA (National Black Business Trade Association), the SBA (Small Business Association), and the IDG (International Data Group):
• Home-based business is a $427 billion a year industry. That's more than the pharmaceutical industry, food industry, and consumer goods industry combined!
• As many as 150 million people, in North America alone, enjoy the freedom and benefits of owning their own (home- based) internet business.
• Many entrepreneurs start firms from their homes - and stay there.
• In 2007 nearly 20,000 entrepreneurs grossed more than $1 million operating from a home-based environment.
• Increasingly, people use their home to earn a primary income, not only a secondary or supplementary income.
• Home-based businesses represent 52 percent of all small firms and provide 10 percent of the total receipts of the economy, about $314 billion.
• Running and owning a home-based business offers new owners a very inexpensive entry point. Forty to 44 percent of all home-based businesses require less than $5,000 for start-up.
• There are between 34.3 million and 36.6 million home office households in the United States alone.
• There is a 7.4 percent annual growth rate forecast for households with income-generating home offices - almost seven times greater than the 1.1 percent growth rate forecast for all households.
• The growth rate for corporate telecommuter households grows by more than 4.8 percent per year.
• The home-based business sector is growing in importance and diversity, and offers opportunities for entrepreneurs and at-home professionals in every demographic and ethnic group:
The home business industry is one of the fastest growing industries in the world today; and, all indications are that it's going to get a lot bigger!
So, is now the time for you to jump on board of this incredible home business trend? It can totally change your financial future!
If you're just getting started, or just thinking about getting started in a home-based business OR if you're already involved in one there are literally hundreds and hundreds of both on-line and off-line resources to help you be wildly successful.
Thank you for sharing the information. This is really helpful for the beginners. Home based business is the best way to make money. Recent studies have proven that business coaching is an up-and-coming industry. Yes, home based business is also one of the fast growing industry.
ReplyDeleteThanks for your comment and your information about Key Business Coach. I couldn't agree more that a mentor/coach is key for helping people succeed in a small or home business.
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