"More than half of all U.S. businesses are home-based. These firms are often dismissed as hobbies or part-time ventures with limited economic impact.
But our research shows otherwise. We estimate that about 6.6 million home-based enterprises provide at least half of their owners’ household income and together employ more than one in 10 private-sector workers.
The rise of the homepreneur is a long-term trend that will continue to accelerate over the next decade. Fueled by technology and enabled by low costs, businesses of all kinds are finding there is no place like home.
With a troubled but recovering economy as the back drop, here is our list of the Top 10 Homepreneur Trends for 2010.
1. The Job-Challenged Economy: Despite clear signs of economic recovery, job growth and traditional employment options will be limited in 2010. Employers will continue to be concerned about the economy, focused on costs and timid about hiring. Because of high unemployment and the lack of jobs, many will turn to self-employment and home-based businesses in 2010.
2. Bootstrapping: Bootstrapping was one of the most popular business terms in 2009, and 2010 will see continued small business focus on cost containment and cash flow. The obvious cost advantages of being home-based is leading to more small businesses – including employer businesses and high-tech start-ups – choosing to be home-based.
3. The Home-Based Artisan: Most think of home businesses as knowledge, commercial or office businesses. But a new do-it-yourself movement of crafters, digital tinkerers, green advocates and other “Makers” are using their garages, basements and backyards as their factories. These new artisans are combining digital technology and tools with traditional methods to create innovative products, processes and business models."