Are You Considering an Internet Home Based Business Opportunity? Read This First

Friday, July 23rd, 2010 at 1:35 am

What are the benefits of operating an internet home based business against a traditional job? The two that are mentioned frequently are that you can set your own hours of work and that you will have more free time. Of course there are others such as being your own boss and eliminating the drive to and from work etc.

Let’s first look at some statistics. The current unemployment rate in the U.S. is hovering around 10% and if you include those who are no longer looking for work, that number is closer to 20%. On top of that many of the jobs that have been lost will never return.

On average the traditional employee will work slightly more than 4 months just to pay their federal taxes. Estimates now indicate that it will now cost nearly $250,000 to raise a child until they are 17. If the conventional advice of seeking a college education is followed that’s an additional expense.

With so many expenses, it is no surprise that many people are starting look into starting their own online home business. In the United States, every year there are nearly 36.6 million home offices households. Combined, these households generate $427 billion of revenue. To put this in perspective, $427 billion is more than the drug industry, medical industry, and hospitality industry generate in combination. Additionally, home based online businesses often have comparatively high success rates over the long run.

Here are some statistics about starting a home based online business that may come as a surprise to you.

The Small Business Association estimated that more than 50% of all businesses that will be started every year are home based/online businesses.
Of these startups, more than 70% will still be in business after 3 years. Less than 30% of all traditional business venture startups will still be around after 3 years.

Nearly 8,500 jobs created every day are home based businesses and online businesses.

Nothing I’ve written here should be interpreted to indicate that building an internet home based business or any type of home business is easy. It takes hard work and it is different than a regular job. You will have to go through a learning process and you will make mistakes along the way. However, if you start small and take the time to learn it can be an excellent source of additional income and as you continue to learn you will have the prospect of long term success and earning a better than average income.