Stats on Home Businesses

Did you know that Harvard Business Services started as a home business almost 29 years ago? That’s right, in 1981 we started this company in the basement of our new home in Wilmington, DE. We truly believe that a great business idea can grow from anywhere and that your home can be a great place to begin on your road to success as an entrepreneur. That is why this article from the American Express OPEN Forum spoke to us.

Below is an excerpt:

According to the SBA, there are over 15 million home-based businesses in the U.S.  And based on analysis of data from the Network Solutions Small Business Success Index (SBSI) and the SBA, around 6.6 million of these are serious home businesses providing at least half of their owner’s household income.

The home has long been viewed as a great place to start a business. Lower costs are, of course, the key reason. Many large enterprises such as Ford, HP and Apple Computer started as home businesses.

A recent SBA study of growth-oriented firms that began operations in 2004 shows that the home continues to be a great place to start.  About half of the growth oriented start-ups surveyed were home-based.  And almost all of these firms were still home-based 2 years later.

Read the full article HERE.