Often misperceived as nothing more than hobbyists and part-timers,
home-based business owners represent one of the most educated,
successful and growing sectors of the small business economy.
And home-based businesses are on the up!
According to the SBA Office of Advocacy, home-based businesses account for an estimated 52% of the 29.6 million small businesses in the U.S.
And, here’s another fact that might surprise you, according to a
recent Network Solutions Small Business Success Index (SBSI) survey, home-based businesses are not only growing they have staying power
with nearly half of those surveyed reporting that they had been in
business for more than 15 years! (Read more facts from the SBSI survey
in this article by Small Business Trends.)
The relatively high survivability rate perhaps attests to several
other facts about home-based business owners they are highly
educated, committed,and savvy business owners who leverage shifts in
the economy, demographic changes and advances in technology to sustain
smart business growth.
Finding the Right Home-Business Opportunity for You
Home-based businesses are no longer limited in scope to consultants
and freelancers. Where there is opportunity, there is money to be made
from the home.
In this article from Allbusiness.com The Top 25 Home-Based Business Ideas you can find numerous examples of“…tried-and-true home-based business ideas that have growth potential, now and in the future.”
From yoga instruction to senior and child-care services; gift baskets
to remodeling contractors; pet-sitters to wedding planners, the
opportunities are seemingly endless.
And while there may be no sure-fire winners, matching the
opportunity to a passion and willingness to execute on your part is
critical. Most successful home-based businesses were made that way by
their owners being willing to put forth the required effort to get the
business off the ground while balancing the ever-demands of home and
Getting Started as a Home-Based Business
If you are interested in starting a business from home, it can be a
low-cost, low-risk door-opener into self-employment. But it’s always a
good idea to test the waters first. Consider starting your business on
a part-time basis, while you still have full-employment or an
Most importantly asses your readiness and do your research. Here are some resources and tips to get you started.
- Plan your Start-Up Offering a uniquely 360 degree view on the steps involved in planning and operating a home-based, take a look at this Home-Based Business Guide
from Business.gov. The guide includes resources that will help you
learn more about working out of your house, starting a home-based
business, and managing your business within the law.
- Due Your Due Diligence: Zoning Laws and Permits Govern Home Businesses Too While
the choice of home-based business type can appear limitless, there are
some restrictions on what kind of work can be performed out of your
home. For example, some states forbid the use of residential kitchens
for commercial food production. Check what restrictions apply in your
locality by reviewing these Zoning Laws for Home-Based Businesses.