Home-Based Business Stats

Have you ever realized just how many people work from home? According to the U.S. Department of Labor, in May 2004, 20.7 million people did some work from home as part of their primary job. Many of these people had a formal arrangement with their employer to work from home, but one-third of them were self-employed. Of the 7 million self-employed, two-thirds had some form of home-based business (a home-based business is defined as a business that is run from the home and no other location).

In general, people who worked from home averaged between 19 and 35 hours per week. Many of these people worked as professionals or in business related service jobs. Their jobs required little more than a computer and a telephone line; with the use of the internet and email constituting the majority of their work. 

According to Money Magazine, 20% of work at home businesses gross between 100k and 500k per year. Not bad, considering nearly half of new home-based businesses require less than $7,000 in start-up costs. For many home business operators, what starts out as spare time venture soon turns into a full time job.

Perhaps there is no greater time than the present to leave the 9-5 behind and enjoy the flexibility and benefits of working from home. Every 11 seconds someone starts a business out of their home. What will you be doing in the next 11 seconds?