Home based business opportunity statistics and facts
Many people dream about working from home because they can set their own hours, can dress how they want and numerous other advantages that the office doesn't have. But the problem is that some of these people who want to work from home don't have what it actually takes. Not to mention that many of these people who have heard about home based business opportunities have not heard about the facts of home based businesses they have only heard about the misconceptions. So before you decide to open up a home based business you should take a look at the statistics and facts on home based business opportunities.
Here is a look at some of the statistics of the home based business industry.
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- The home based business industry is a $427 billion a year industry, which is more than the pharmaceutical, food, and consumer gods industries combined.
- In North America alone there were over 150 million people who were a part of the home based business industry in the year 2005.
- In the year 2000 more than 20,000 people who were involved in the home based business industry grossed more than $1 million working from home.
- A recent survey shows that the average income for home based businesses is around $63,000 a year.
- Home based business account for about 52% of all of the small business out there and they actually provide 10% of the total receipts of the economy, which translates into about $314 billion.
- 40%-44% of all home based businesses require less than $5,000 for start up costs, which means that running and owning a home based business is actually rather inexpensive when compared to other small businesses.
- Most home based businesses remain in the home, only about 5% move out of the home into bigger premises.
- Home based businesses are easy to start and restart as the needs arise and dictate.
- The number of United States households that currently have a home based business is more than 12%.
- Currently in the United States alone there are between 34 to 36 million home offices, this includes both income generating home offices and telecommuter households.
- There is expected to be a 7.4% annual growth rate for home based businesses, which means that each year the industry is going to increase in size and so far there are no signs of the growth slowing down.
- A little more than 50% of all home based businesses will survive for more than five years.
- Everyday there are new home businesses opening up, in fact about 8,493 home based businesses open up everyday.
- The amount of people who are actually working from home part time is around 23 million people, while the amount of people who are working from home on a full time basis is around 14 million people.
- Something else that we need to keep in mind is that by the end of the next decade over 46% of the people in the world will actually be working from home.
Here is a look at some of the facts on home based business opportunities.
- Running a home based business is not easy at all and there is a chance that you might not be able to do it.
- In order to make money running a home based business you are going to have to work from the bottom up you are going to have to start your business off from the ground floor, which is the same thing you would need to do when it comes to starting any kind of business.
- Once you have built your website you are still going to need to make people aware of your website, which means you are going to need to continuously work to make sure that people find out about your website.
- In order to successfully market your business you are going to have to spend some money because your goal is to get your name out there as fast as possible. But what this doesn't mean is that you have to spend thousands of dollars on marketing.
