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The Rise of the Homepreneur and the New Report from Network Solutions

October 28th, 2009 ::

Over the last decade many entrepreneurs have turned their homes into remote offices in the early days and over time these home-based entrepreneurs or “homepreneurs” have become a force to be reckoned with. Because what many deemed a place for hobbyists or telecommuters, the home has become the affordable and sensible place to do business. With technology today, many work virtually and teams are formed from a global pool of resources, so it quickly becomes irrelevant if you have pricey office space on K Street in DC or at 30 Rock in NY but work out of your home in suburbia. Much to an entrepreneurs desire to be competitive that smart strategy can be passed on to clients in the form of lower costs and flexible teams.

This past Friday, BusinessWeek published this article on “The Rise of the Homepreneur” which discusses the findings of the report “Homepreneurs: A Vital Economic Force” which is a new report published by Emergent Research, a small research and consulting shop in Lafayette, Calif. “We’re seeing more and more home-based businesses that are real businesses,” says Steve King, who coauthored the new report with Carolyn Ockels. To prepare the report, they analyzed U.S. Census data and Small Business Administration research, along with data from our very own Small Business Success Index, a survey of 1,500 companies sponsored by Network Solutions and the University of Maryland’s Robert H. Smith School of Business.

Highlights of the Report and Download Link

The report is a good read and here are some highlights from the paper:

  • Home businesses employ over 13 million people.
  • Nearly 6.6 million home businesses generate at least 50% of the owner’s household income
  • 35% of home businesses generate $125,000+ in revenue; 8% more than $500,000.

Reading the summary section of the report I was not surprised by the three trends why more people are becoming homepreneurs:

  1. The lower costs and risks associated with starting a home-based business
  2. Demographic and social shifts
  3. A lack of corporate jobs

To find out more and read the whole report click this link to find out more from latest SBSI Research brief.

The views expressed here are the author's alone and not those of Network Solutions or its partners.

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Posted in Entrepreneurs, small business, Small Business Success Index, Workforce | 20 Comments »

  • http://blog.adsdevshop.com Robert Dempsey

    Thanks for the post Steven. When my business changed from IT to software development I set it up as a virtual organization, needing no physical presence to operate. This is highly doable with today’s technology, and as you point out, allows our business to be more agile, and pass on savings to our customers. Large companies can also greatly benefit from this, reducing operating and office expenses by having employees work from home 1-2 days per week. Having the right team of people on board can reduce the anxiety some managers have of “will the work get done if people work from home.”

    I see more and more people starting companies at home, or being freelancers working from coffee shops and book stores. I believe that this trend will continue to increase as we go through the downturn.

  • http://carpolaw.com/ Law Firm Manila

    Home-based business continues to increase its rate due to benefits on how to to handle more time in home and in family. No doubt that business operation continues to evolve and cope up in the fast growing technology,specially online. Instead of leasing office spaces,why used our home places to conserve lease expense other bad facts about business that is operated outside our home.

  • http://carpolaw.com/ Law Firm Manila

    Home-based business continues to increase its rate due to benefits on how to to handle more time in home and in family. No doubt that business operation continues to evolve and cope up in the fast growing technology,specially online. Instead of leasing office spaces,why used our home places to conserve lease expense other bad facts about business that is operated outside our home.

  • http://carpolaw.com/ Law Firm Manila

    Home-based business continues to increase its rate due to benefits on how to to handle more time in home and in family. No doubt that business operation continues to evolve and cope up in the fast growing technology,specially online. Instead of leasing office spaces,why used our home places to conserve lease expense other bad facts about business that is operated outside our home.

  • http://www.newyork666club.com/ 酒店經紀

    Dunno bout songs but we know he was a fan of Jackson Pollack, which makes him a pretentious butthead right off the bat. I remember standing at MOMA with a friend, looking at this whole wall of crap that Pollack turned out, and saying to my friend “How did he know when it was finished?”. My friend answered “When he ran outta paint”.

  • http://www.newyork666club.com/ 酒店經紀

    Dunno bout songs but we know he was a fan of Jackson Pollack, which makes him a pretentious butthead right off the bat. I remember standing at MOMA with a friend, looking at this whole wall of crap that Pollack turned out, and saying to my friend “How did he know when it was finished?”. My friend answered “When he ran outta paint”.

  • http://www.newyork666club.com/ 酒店經紀

    Dunno bout songs but we know he was a fan of Jackson Pollack, which makes him a pretentious butthead right off the bat. I remember standing at MOMA with a friend, looking at this whole wall of crap that Pollack turned out, and saying to my friend “How did he know when it was finished?”. My friend answered “When he ran outta paint”.

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  • http://www.viteb.com/website-development/ philip

    Yes, the rates have been increased of home based businesses. We should make it more friendly to get all the people in touch to get their work

  • http://www.viteb.com/website-development/ philip

    Yes, the rates have been increased of home based businesses. We should make it more friendly to get all the people in touch to get their work

  • http://www.viteb.com/website-development/ philip

    Yes, the rates have been increased of home based businesses. We should make it more friendly to get all the people in touch to get their work

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  • http://pulse.yahoo.com/_L66ZVE3QLCI2SYATQGVUZDELQQ Volver

    Home based business is a good way to start, especially if you have less money to start. No office to rent and still connect to your family. When it’s already grow, you will really proud of your self

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  • http://www.42ndstreetoffices.com/42nd-st-offices www.42ndstreetoffices.com

    Home businesses are becoming more and more popular as more people are left without jobs, I suppose its also nice to be your own boss except the lack of discipline.

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  • Web Design India

    Ya that’s right home based business is a great to starting.

  • http://www.saamarth.net Web Design India

    This is very good information and it’s right home based business is better for starting.