February 21, 2024

The Domestikated Life

One Passion

Home-Based Business Facts and Statistics

According to industry experts Home-based business is a $427 Billion a year industry. That’s more than the pharmaceutical industry, food industry, and consumer goods industry – combined!

The extremely low start-up costs, flexible hours, and the Internet are fueling the growth of the home business segment. It’s estimated that as many as 150 Million people , in North America alone, are enjoying the freedom and benefits of owning their own home based Internet business.

A recent IDC survey indicates that the average income for income-generating home office households is $65,000 a year.

According to a report from the SBA’s Offiice of Advocacy over 20,000 entrepreneurs grossed over $1 million operating from a home based environment.

Home-based businesses represent 52% of all small firms and provide 10% of the total receipts of the economy.

Running and owning a home-based business offers new owners a very inexpensive entry point. 40 to 44 percent of all home-based businesses require less than $5000 for start up.

From a survey done by Home Office Computing Magazine:
98% are happier working from home.
96%would recommend working from home.
88% would never return to the corporate world.

The U.S. Bureau of Labor Statistics estimates that there are now over 18.3 million home-based businesses in the United States[Entrepreneur Magazine].

Entrepreneur Magazine estimates that $427 billion is generated each year by home-based businesses.

According to the Small Business Administration more than half of all the small businesses in the U.S. are home-based.

VeriSign found that world wide domain name registrations are reaching record highs.

Every 11 seconds someone starts a home-based business.