According to industry experts, the home-based business is a $427 billion a year industry. That’s more than the pharmaceutical industry, the food industry, and the consumer goods industry combined!
Extremely low start-up costs, flexible hours, and the Internet are fueling the growth of the home-based business segment. It is estimated that up to 150 million people, in North America alone, enjoy the freedom and benefits of owning their own home-based Internet business.
A recent IDC survey indicates that the median income for income-generating home office households is $65,000 per year.
According to a report from the SBA Office of Advocacy, more than 20,000 business owners raised more than $1 million operating from a home-based environment.
Home-based businesses account for 52% of all small businesses and provide 10% of the economy’s total revenue.
Running and owning a home-based business offers new owners a very inexpensive entry point. 40 to 44 percent of all home-based businesses require less than $5,000 to start.
From a survey conducted by Home Office Computing Magazine:
98% are happy working from home.
96% would recommend working from home.
88% would never return to the corporate world.
The US Bureau of Labor Statistics estimates that there are now more than 18.3 million home-based businesses in the United States.[Entrepreneur Magazine].
Entrepreneur magazine estimates that home-based businesses generate $427 billion each year.
According to the Small Business Administration, more than half of all small businesses in the US are home-based.
VeriSign found that domain name registrations around the world are reaching record levels.
Every 11 seconds someone starts a home-based business.