Small businesses are the backbone of America, so say the venerable economists. And it’s very true. Historically, when the number of successful home businesses and small businesses is highest, our economy prospers in a way that is unmatched by our country’s corporate successes alone. During the current recession, small and home based businesses have become a survival strategy for thousands of Americans displaced by corporate downsizing, while others have had to go out of business altogether and join the ranks of the unemployed. What is the outlook for home based business in the country, in the face of the worst economic recession we have ever seen? And what are the recent historical statistics on home based businesses?
Last week I was watching a news story on dish network, featuring couples who have fled the corporate chaos and started up their own businesses at home, with varying degrees of success. Their stories motivated me to do a little research online, and I found this great infographic I thought I’d share with you. It covers how much the average home business costs to start up, and the number of estimated home businesses as well as other useful numbers. Click to expand:
