Home Business Facts and Statistics

These are some facts and statistics I recommend you read before starting an Internet home businesses.

U.S. and World Wide Statistics and Facts About Home Based Businesses

“I found every single successful person I’ve ever spoken to had a turning point.  The turning point was when they made a clear, specific unequivocal decision that they were going to achieve success.  Some people make that decision at 15 and some people make it at 50, and most people never make it at all.” Quote: by Brian Tracey

Hi, my name is Candace Saunders, Internet Marketing Home Business Owner. I have developed this website to help entrepreneurs find the right, legitimate home business. Read through the educational and informational facts,statistics, home business opportunities, truths and myths about working from your computer desk. Then, start your business! www.spidergirx.com

Advantages to Home Business Owners

• The Official Business Link to the U.S.Government states, setting up your business on the internet can be a lucrative way to attract customers, expand your market and increase sales.
• The office of the U.S.Small Business Administration revealed that smaller companies benefit most from being online.  These statistics demonstrate that internet continues to offer entrepreneurs and self-employed individuals many opportunities to start unique online businesses and reach thousands, even millions of potential customers in this worldwide virtual economy. (Home Business Magazine)
• Entrepreneur magazine states as it grows in popularity and profits, home based business is being perceived in a much more favorable light. According to Beverley Williams, a home business advocate for the past two decades, running a business from home was once frowned upon or dismissed as a hobby for moms seeking extra money. Now, home based business is widely accepted and is attracting both men and women.
• “Home-based businesses collectively generated a remarkable amount of economic activity, especially for women and minorities,” said Census Bureau Director Louis Kincannon.
• Small businesses are, in many ways, the backbone of our nation’s economy according to the U.S. Census Bureau.
• “The entrepreneurial spirit of America is robust and strong, and small businesses are thriving throughout our great nation,” said President Bush.
• According to the U.S. Census Bureau, nearly 3 in 10 of all entrepreneurs started or acquired their business with no capital at all.

Disadvantages to Home Business Owners

• Combating loneliness is one of the top challenges facing home based entrepreneurs, according to Williams and Paul Edwards, author of numerous books on the topic, and co-author of the Entrepreneurial Parent:  How to Earn Your Living and Still Enjoy Your Family,  Your Work and Your Life. Williams recommends seeking out the services of the local chamber of commerce or other small business groups. (Entrepreneur Magazine)
  

Number of Home Business – 36 million to 18 million

• According to International Data Corp. (IDC), a top national research firm, there are between 34.3 million and 36.6 million home office households in the United States alone.
• Nationwide, the number of home-based businesses may range from 18 million to 38 million,depending on who is doing the counting. U.S. Census figures. Pittsburgh Business Times
• According to the U.S. Census Bureau, receipts of non-employer businesses (those without paid employees) in 2003, up from $586 billion in 1997. These non-employers, often “mom and pop”corner stores or home based businesses, comprised more than 70 percent of all businesses.
• The number of home-based businesses in the United States surpassed 20 million in 2002, and is expected to eclipse 25 million by 2003 according to International Data Corporation
• In fact, the U.S. Bureau of Labor Statistics estimates that there are now more than18.3 million home based businesses in the United States.
• The number of U.S. households that have a home-based business currently exceeds12 percent. – Office of Advocacy, Small Business Administration

Success Rate of Home Businesses – 70%

• About 70% of home-based businesses will last over a three-year period, compared to 29% of other business ventures, according to the Home-Based Business Institute.

Annual Revenues of the Home Business Industry as a Whole – $427 billion

• Entrepreneur magazine estimates that $427 billion is generated each year by home-based businesses. Pittsburgh Business Times That’s bigger than General Motors, Ford, and Chrysler all put together.

Number of Women Owned Home Based Businesses

• By 1992, women were running 10 million home-based businesses. ( U.S. Census Bureau).
• Today women run 70% of home-based business: nearly 17 million. ( National Center for Policy Analysis)
  
• According the National Foundation of Women Business Owners (NFWBO) there are 2.1 million women business owners with children (1994)

Number of College Graduates with Home Businesses

• According to the U.S. Census Bureau, in 2002, 64 percent of business owners had a least some college education at the time they stared or acquired ownership in their business, 23 percent had a bachelors degree and 17 percent had a graduate degree. Just over 1 in 4 owners had a high school education or less.
• 48% of home workers with an income generating home office are college graduates (IDC/LINK)
• 51% of home office users are college graduates with incomes more than $40,000 (IDC/LINK).
• Roughly three out of four home based women business owners are college educated. They tend to be in their 30s and 40s, are more likely than not to be married and have kids and work experience,according to IDC/Link, a market research firm.(Forbes Magazine)

Demographic Makeup of Home Based Business Owners

• 22% of home workers are in white-collar positions (IDC/Link).
• 31% of owners were more than 55 years of age, 29% were between 45 and 54, and 24% were between 35 and 44. Only 2 percent of owners were less than 25 years of age. (U.S.Census Bureau).

Percent of Total Work force that are Home Based Business Owners

• According to research released by IDC,
  Home offices are projected to grow to 34.3 percent of the work force by the end of 2002, a growth of .6 percent since 1999.
• The number of U.S. households that have a home-based business currently exceeds 12 percent.” – Office of Advocacy, Small Business Administration
• June 25, 2008 – Nearly a quarter of the world’s population “roughly 104 billion” will use the internet regular basis in 2008.This number is expected to surpass 1.9 billion unique users, or 30% of the world’s population, in 2012, according to IDC’s Digital Marketplace Modal and Forecast. on a
• “The Internet will have added its second billion users over a span of about eight years, a testament to both its universal appeal and its availability,” said John Gantz, chief research officer at IDC.  “In this time,the Internet has also become more deeply integrated into the fabric of many users personal and professional lives, enabling them to work, play, and socialize anytime from anywhere. These trends will accelerate as the number of mobile users continues to soar and the Internet becomes truly ubiquitous.” John Gantz
  
• Lusia Kroll states that starting a business is natural for women who want to work but need to stay at home with kids. A small business run from the home is away of breaking down the barriers between work, home and family. More than half of women business owners with previous private-sector experience site the desire for more flexibility as the reason for starting a business.
• The average age of home based businesses owned by women is  6.1 years, according to the National Foundation for Women Business Owners.
• The Center for Women’s Business Research states that women business owner’s value technology as a means to create work place flexibility.
• 61% use technology to integrate the responsibilities of work and home.
• 44% use technology to enable employees to work off site or to have flexible work schedules.

Number of Jobs Started Daily by Home Based Businesses – 8500 jobs daily

• According to IDC, home-based businesses create an estimated 8,500 new jobs daily.

Number of Small Businesses that are Home Based – 53%

• According to the Small Business Administration, today more than half  (53%) of the small businesses in the U.S.are home-based. In brute numbers, that’s more than 24 million.

Weekly Hours Worked by Home Business Owners

• According to the Bureau of Labor Statistics states that nearly half of self-employed persons with a home based business worked at least 8 hours per week at home, and almost 22 percent put in 35 hours or more at home.
• On average, self-employed persons with a home based business worked 25 hours per week at home.