The Home Business Boom!
A Home Business Article Contributed by Elizabeth Fox-Wise
Why is There a Boom in Home Business?
Record numbers of people are starting a home business. As expected, this most recent recession, that wasn't "really a recession" , but turned out to be "just like a recession after all", has caused a lot of displaced workers. With the job losses still being reported in the news daily, it is not surprising that a lot of people are now looking for another way to make a living where they get more control over their lives. Hence a BOOM in the numbers of home business.
In this most recent economic downturn, the laid-off workers have different skills than workers laid off in past recessions. The majority of the layoffs are not coming from the blue-collar workers in manufacturing jobs. Those jobs have already decreased in numbers long ago being shifted into the developing world, specifically Asia and China.
This latest group of dislocated employees have titles such as Vice President of Business Development or Director of Ecommerce. They are professionals with good education and management experience. They are not going to collect unemployment and wait to be called back to a job that will probably never call them back. Many of these people are turning to home business!
Why Aren't the Governments Statistics Showing This Boom in Home Business ?
The Government statistics on new and start up businesses runs about two years behind time so these new entrepreneurs are not yet appearing on the Small Business Association or Bureau of Labor Statistics.
It will be awhile before we accurately see the effects of the current recession on the number of home business being run. Plus by the nature of their business, they are run from a home, keep a low profile and some home business will never appear on government statistics.
What Type of Home Business is Booming?
Laid off middle level managers are perfect candidates for the franchise industry. These people are not your "serious" entrepreneurs who want their home business so they can have the control and call all of the shots. True entrepreneurs are usually turned off by the restrictions of a franchise. If you own a franchise, you must follow their proven system down to every last detail. You have very little freedom over how your home business operates.
Middle level managers have a tremendous amount of respect for systems and often find that they do better in a home business if they follow a franchise's proven method for success. Furthermore, they have the credit and the capital required to buy into a franchise opportunity.
A large percentage of these recently laid off, new franchise owners, will choose make their business a home business. There are several reasons for this. Some of them want to quit the grind of a long commute that they have tolerated for years. Others say that they want to be close to small children or aging parents. All of them cite the benefits of the low overhead for their home business that will give them a better chance at succeeding.
