A recent survey conducted by Emergent Research has done a great job of documenting the remarkably robust financial impact that home-based businesses have on our economy.
Though entrepreneurs have been fundamental to the United States economy for as long as the nation has existed, there is a certain perception of an entrepreneur as someone who makes large deals over firm handshakes. Perhaps their days are filled with meetings and lunches. Yet, home based entrepreneurs are more common than most people may realize. With the wide spread availability of cheap technology which renders worldwide connection easier than ever before, the home based entrepreneur is an ever increasing and ever more profitable trend.
Results of the study reveal the following
- Home based entrepreneurs frequently employ others to help them manage their business. The study showed that home based entrepreneurs employ more U.S. workers than those firms backed by venture-capital. Half of all home based entrepreneurs surveyed had a staff, with 39% reporting 2 to 5 five employees on the payroll.
- Only 20% of those home business surveyed had been operating for under 5 years while, rather surprisingly, over half had been in business for a decade and a half or longer.
- There are over six and half million businesses which fit the description of “run by a home based entrepreneur,” that are providing at least half their household’s income. 75% of those entrepreneurs surveyed consider their home based business as their full time job. 35% are currently generating an excess of $125,000 in annual revenue.
An entrepreneur can make it anywhere, and these days you don’t need a big office or a regular table at a fancy restaurant. Running a home based business has never been more possible or potentially lucrative.
