We don?t have to come to any conclusions here because the numbers have a quirky way of speaking for themselves. Even before we start talking about anything, please peruse through the following results pulled together by a survey conducted by the ?U.S Department of Commerce: U.S Census Highlights for the previous years?.
Notice the numbers on the Home- based Businesses below:
- Home-based businesses made up 56 percent of American Indian- and Alaska Native-owned firms, 56 percent of women-owned firms, 53 percent of black-owned firms, 53 percent of Native Hawaiian- and Pacific Islander-owned firms, and 45 percent of Hispanic-owned firms. In contrast, 2-in-3 Asian-owned firms reported they conducted business from nonresidential locations.
- Top industries for home-based businesses were: professional, scientific and technical services, construction, and retail trade and other services (such as personal services, and repair and maintenance).
A great, endearing and inspiring set of numbers here which state the kind of backgrounds and financial situation the entrepreneurs have been into before they get started and do which type of businesses exactly.?
Most businesses are ?self-made?
- People using their own money or family assets for business startups included 77 percent for businesses with paid employees and 59 percent for businesses with no paid employees.
- Top industries for these ?self-made? businesses were: accommodation and food services (79 percent), manufacturing (78 percent), wholesale trade (74 percent) and retail trade (72 percent).
- Nearly 3-in-10 (28 percent) of all entrepreneurs started or acquired their business with no capital at all.
- Nearly 1-in-10 U.S. businesses — both employer firms and non-employer firms — were started by owners who used personal or business credit cards to finance the startup or acquisition.
- In 2002, 64 percent of business owners had at least some college education at the time they started or acquired ownership in their business, 23 percent had a bachelor?s degree and 17 percent had a graduate degree. Just over 1-in-4 owners had a high school education or less.
- Thirty-one percent of owners were more than 55 years of age, 29 percent were between 45 and 54, and 24 percent were between 35 and 44. Only 2 percent of owners were less than 25 years of age.
- Fourteen percent of business owners in 2002 were veterans; 73 percent of those operated with no paid employees. Nearly 7 percent of veteran business owners were disabled as a result of injury incurred or aggravated during active military service.
- When it comes to depending upon a business for income, 70 percent of owners of employer firms reported that their business is their primary source of income, compared to 44 percent of non-employer firms.
- More than half of business owners reported their primary function was managing day-to-day operations and producing their business goods and services (survey respondents could check more than one category).
- When it comes to putting in long hours, more than half the owners of firms with paid employees reported working overtime (more than 40 hours a week, on average). Only 26 percent of owners of non-employer firms reported they worked overtime. In fact, 43 percent of owners of non-employer firms reported working less than 20 hours a week on average, compared to 20 percent of owners of firms with employees.
You would now have a fair understanding of what?s happening around you. Millions of people are now taking to the ?Home-Business? rush and have unfettered themselves from the shackles of the despondency of modern age slavery. The rush and excitement that comes from within their deep individualistic value systems is inexplicable.
A home business entrepreneur operates on few economic, personal and financial resources but still manages to scrape through. It is a challenge to be on ones own and build something out of nothing, but these savvy capitalists manage to do it, nevertheless.
So, are you excited? Do you want to be a part of this looming reality?
?Working at home, as an industry (although it isn?t, really!) is now shaping up to be a raging force — something worth reckoning with. Would you like to be a part of this boom? Are you raring to go on your lonely but worthy journey of a thousand miles?