USA Home Based Business In Trend
69 % of people do their home-based business in the USA have started their business from homes. The entrepreneurial spirit and e-commerce are being enhanced by the advent of advanced technology. In 19997 the people have started homes based business rather than commercial sites according to the Inc. magazine. How to Start a Business with No Money
People want to earn money along with home comfort. Most of the people are running businesses from home. According to the U.S. business survey, most of the entrepreneurs do the same.
The 2012 Global Entrepreneurship Monitor Report tells us that most of the entrepreneurs are operating their businesses from home. This study is all related to the staff of the small business owners as these owners are solo entrepreneurs. There are not more than one staff in their business, they work in their bedroom, garage along with one or more than one co-founders. Some of them have their employees as well in their home-based businesses.
Business With Low Investment
If we think that there is a home-based business and that business has employees? It is fascinating because it requires a small investment. These businesses are using virtual technology. There work is being done virtually. The employees in home-based businesses need technology like computers, mobiles, internet connections instead of their physical availability at the workplace. These businesses work schedule is sometimes fixed and sometimes flexible. It depends upon the owner of the business. Many of them give a deadline, and employees must achieve their tasks before the given period without any delay. That employee also can do the job by his/her own time in the given period. While others fix specific hours of the day for the work. All these conditions are according to the work type and demand of the customers.
Reasons behind the Home-Based Businesses and Entrepreneurship
The main reason behind the home-based business is less investment. The owner doesn’t require huge space and furniture for the setup and other facilities. They can start their business by only 15000 $ as well. The low overhead cost is the crucial driver for home-based entrepreneurs. Here are some more specific reasons as well.
The funds required for home-based startups are mostly coming from the owner/entrepreneur directly. Sometimes the friends and the family provide help in the funds gathering as well. There is no need to get a massive amount of loans from banks at high-interest rates as only small investment is enough for the startup.
Entrepreneurship is the most flexible type of business as there is no age limit for it. The 15 t0 20 % of adults are earning money through entrepreneurial activities. Some of them are doing entrepreneurship along with their regular 9to 5 jobs as well for increasing their income. As most of the people can’t afford their family expenses in their limits salaries.
Best Home-Based Business
The home-based business provides more and more opportunities to do work and earn more profit in small investments. Half of the time, people are being used in home-based businesses. The numerical value is almost about 3.9 million Americans are involved in home-based businesses. There are different home-based business opportunities for people who want to earn more along with their home comfort. Some of the area;
- Home Renovation
- Pet products and Services
- Software developments
Home Renovation Business
The homeowners in the USA spend almost 6,649 dollars per year on their home renovation (Home advisor Survey 2018). People prefer home renovation as everyone want and appreciate a change in their homes and lives. One of the reasons to renovate a house is in new family members. So, the house should be according to the needs of family members. The plumbing, carpentry skills, electrical skills can be used as a home business. You will only require instruments and that are not too expensive as the small investment will help you in starting your new business.
Coaching is the best home business as the coaches can find their clients on the phone, and Skype easily. In the USA, the 1 billion$ industry is coaching. The coaching industry is providing a 3.6 % annual growth rate in the USA. This business is versatile.
Pet Products and Services Business
In the USA, people love their pets and spend a significant amount of their income on pets. On average, 72.13 $ billions have been spent on pets in 2018(American Pet Products Association).the youth has more interest in pets and is buying more pets. The pets include dogs and cats. The owners are spending enough money on pet food. Products for pets are natural to produce at home. The best way to sell pets products is through the internet like toys, vitamins, food, grooming aids, etc. You can earn through pet services as well as pet sitting, dog daycare, etc.
Many applications are available for pet sitting and dog walking. The people can earn more with a small investment. And with the low investment is easy to start a business like pet care and pet product selling.
Software Development Business
People require software and apps for their regular businesses. Software developers can earn more by sitting in their homes comfortably. As they can create apps for different purposes. The app demand will increase by 24% in 22016 (US Bureau of Labor Statistics). Here is the list of the demanded in the software development;
- App development
- Medical and health insurance software
- Security software’s
People nowadays are preferring to buy products online. The online shops save clients from the hectic shopping search. The online shops don’t require high costs as they can start their business with a small investment. E-Commerce is a simple business and requires less investment.
High Women Entrepreneurs Ratio as Compared to Men in Home-Based Businesses
Usually, women look after house with lots of responsibilities. Managing home responsibilities with the job is a difficult task. The ratio of women entrepreneur in the US is more than men which is about 71% women, and 61% are men running their home-based business.
Impact of Entrepreneurship on Other Parts of the World.
The entrepreneurship ideas have created a significant impact on the mind of the people, as they can have a lot of opportunities, even in unemployed situations as well. The same entrepreneurship businesses that are being run by different people in the USA can be started in other countries as well. The countries having high unemployment can create awareness in their people by spreading the ideas of entrepreneurship. The developing countries like Pakistan and many others use this technique for youth stability. Entrepreneurship opportunities should be provided by the government. The youth, as well as senior age people can start their own business at home without being a burden on their families.