What is a "Home Based Business"
A home-based business is simply a business you operate at or from home, instead of at or from commercial premises. In some cases, all of the business is conducted in the home, and in others only the administrative aspects of the business are carried out in the home.
Source:http://www.smallbiz.nsw.gov.au/smallbusiness/Government+Programs/Home+Based+Business/
The Overall Picture
- 53% of all small businesses are home based
- 10% of the total receipts of the economy come from home based businesses
- $427 billion per year industry.
- 34-36 million home office households in the United States
- In the past decade job creation has fluctuated between 60-80%
Source: nase.org
How much to Home Based Business Owners Make
- Overall Average: $63,000/yr
- Home Based Sole Proprietor: $22,569
- Non-Home Based Counterpart: $38,243
- Majority of sole proprietor businesses are run part-time
Source: nase.org
Five-Year Survival Rates
- 90% of home based businesses fail to make it to the five year mark
What Industries are Home Based Businesses In
The majority of home based businesses operate in the following industries
- 60% Service
- 16% Construction
- 14% Retail
Source: nase.org
Home Office Makeup
Source:http://www.entrepreneur.com/sbe/homebased/index.html
Credit: Thanks to Debbie @ http://mice.org/blog/ for passing some of these statistics along to me!
Similar Posts:
- Minority Owned Small Business By the Numbers
- Women Owned Small Business By The Numbers
- Christmas By The Numbers
- Work From Home…Can You Juggle?
- What’s a Small Business Entrepreneur Look Like?
{ 2 comments… read them below or add one }
Love the stats! One thing that stuck out to me is that only 85.3% of home based business owners have a PC! Are the other 15% using a quill and ink?
I had a hard time coming up with the exact number of quill and ink users, but I think your % is pretty accurate. Seriously though, what are they using?
Matt