A home based business is an entrepreneurial business mainly operated from home, mostly by the business owner himself. Some people refer to it as micro enterprises, working online, or small businesses. A small or micro business may not necessarily be a home based business. Working online from home it will most probably be a home based business. It is important for the development of our home based business opportunity to achieve financial independence in the global economy of the 21st century, to have a view of the total size of this industry and some views on possible future development and growth. This evaluation of the trends of the industry will help to dream-it-plan-it-do-it.

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Home Based Business:
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2. What is the Home Based Business Industry?
A home based business is an entrepreneurial business mainly operated from home, mostly by
the business owner himself. Some people refer to it as micro enterprises, working online, or
small businesses. A small or micro business may not necessarily be a home based business.
Working online from home it will most probably be a home based business.

3. It is important for the development of our home based business
opportunity to achieve financial independence in the global
economy of the 21st century, to have a view of the total size of
this industry and some views on possible future development and
growth. This evaluation of the trends of the industry will help to
dream-it-plan-it-do-it.
Very reliable statistical information is not freely available because
these businesses are not well defined and is not part of
governmental statistical planning and strategic information
data. Some research and other information are
available and will help us to get a broad view of the
importance and trends of this industry.

4. Some general trends of and comments on the
Home Based Business Industry:
The prospect of working from home has gained credibility over the
years. It is no longer seen as a kind of part time job that the wife is
doing from home while caring for her children. Take into account
that most companies, about two-thirds of all companies, begin at
home. That includes big companies like Apple Computer, Baskin-
Robbins ice cream, Electronic Data Systems, Hallmark cards, the
Lillian Vernon catalogue, and Purex.
“Opportunity does not knock, it presents itself when you beat
down the door.” – Kyle Chandler

5. In the USA, the average income generated by the
home based business is substantial, as indicated
by the following:
“Plus many home based businesses do generate substantial
revenue. About 35% have revenues of more than $125,000
and 8% more than $500,000. The median household income
is $50,233 for households in general and roughly $75,000
for homepreneurs. The income for home based business
owner is thus substantially higher than it is for the population
as a whole.”
The home based business is already a major part of the
economy of the USA . The homepreneurs business employs
about 13.2 million people in the USA. It is estimated that
about 50% of these are home based businesses.ᵃ The
assumption is that the home based businesses employs
about 6.6 million people in the USA.

6. The home based business industry is developing fast and becomes more
important due to the following:
- The growth in the internet and the people connected to the internet. Two billion people are
connected via the internet and this number grows by 200 million each year.
- Growth in the availability and lowering of the costs of broadband communication and
connections worldwide has a positive influence on people connecting to the internet.
- The internet, increased online purchasing, money transfer mechanisms (notably PayPal),
reliable global shipping, the decline in informal trade barriers and networks created through
immigration have all made it easier for small businesses to serve global markets. The internet
has been particularly important in enabling small businesses to cost effectively serve small
market niches (the 'long tail' phenomenon).
The development of computer technology, software, printers, dedicated
telephone lines, and mobile phones creates new opportunities for the home
based business and makes it more viable to operate a business from home.
Affordable and powerful new technologies will continue to create new
opportunities for the home based business. These technological
developments will help to keep this industry growing.

7. New innovations like:
Express parcel delivery, distribution, cloud based IT services.
Outsourcing, freelancing, communication technology, and the
availability of skilled people in foreign countries makes it possible to
not to have to perform all tasks at the premise of the home based
business. It is easier to operate from a small premise at home.
New business models have created new job opportunities for the
development of home based business. Two examples are the
network marketing industry, or multi level marketing, and
franchising.
The growth of the knowledge and service based industries requires
little office or working space and economies of scale does not apply.
People are making lifestyle changes and prefer to work from home
as it gives them flexibility, it saves time, and it eliminates commuting
costs.

8. The Home Based Business Industry:
The computer home based business is not exclusively dependant on the local market to generate income, or for its financial
existence; that makes this kind of business less vulnerable to economic cycles.
The costs and risks involved in starting a home based business is lowering and, thanks to the internet, it is becoming easier. This
will make it more attractive for people to start their own home based business.
Many people do need an extra source of income due to debt or other financial reasons and start their own home based business
part time to generate a second income stream.

9. One of the main reasons why I believe that the home based business will grow
in the future is being summarised as follows:
“Nevertheless, home based business owners are much more satisfied with
their quality of life than other small business owners. However, the majority
of home based businesses owners do not appear to have made a financial
trade-off in order to secure this quality of life.”
With employer benefit packages being cut and the chances of losing a corporate job increasing,
many view starting a home based business as no more risky than traditional employment. Job and
income security drives people to start looking for and to develop an extra source of income for them.
Due to demographic and social shifts. Aging baby boomers, women, Gen Y and others are all
seeing home based business ownership as an increasingly viable work option. An interest in
achieving work/life balance, flexibility, the opportunity to pursue a passion and working for your self
are some of the reasons given for starting a home based business.
There is a lack of corporate jobs. Large corporations have been battered by the recession. Even if
the economic recovery is strong, it is unlikely that these companies will dramatically increase hiring.
Instead of hiring full-time staff, they will stay flexible and lean through the increased use of
technology, contractors, partnerships, and outsourcing. As a result, starting a home based business
will be the best, and in many cases, the only option for corporate refugees.

10. The internet does have many opportunities for a home based business. The
number of people connected to the internet is growing very fast. Broadband is
becoming more available in the world. The internet support technology and mobile
applications of communication is growing at an astronomical rate. These
developments create new opportunities for the internet related businesses.
It is being considered by some researchers that these developments will have a
greater influence on the world economy than any economic revolution in history.
“Opportunity is missed by most people because it is dressed in overalls and looks like work.” – Thomas
A. Edison
“The first one gets the oyster, the second gets the shell.” – Andrew Carnegie
These technological developments and innovations will create
more and new opportunities to dream-it-plan-it-do-it big. The
home based business opportunities and the industry will
boom. The true entrepreneurs will grab them. Do you want
to be part of this?
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