The Home Business Report

This is a report that BBIC entrants might be interested in learning more about. Figures from the US-based Small Business Administration ( http://www.sba.gov/) have revealed that home businesses generate more than US$530 billion (RO204 billion) in turnover each year and are more profitable than businesses based in offices!

The report's findings have surprised many who underestimated the size and worth of the US home business sector. The report's headlines are:

o Businesses based at home generate more than $530 billion (RO204 billion) in annual turnover.
o 52% of small businesses in the US are based at home.
o Home businesses record a lower turnover compared with office based peers, but they have a higher net income.
o Female owned businesses are growing faster than male operated firms, both in terms of the number of new businesses created and also in income levels.

The research was conducted by analysing tax returns submitted by people claiming home business/office related expenses.

The report is upbeat about future prospects, believing that the number of home business owners will continue to grow, influenced by factors such as technology, demographics and lifestyle.