The Entrepreneurial Mind: “Home offices are certainly nothing new. I have had one on and off for most of my career. But with the boom in business formation, more and more new entrepreneurs are following this age old bootstrapper’s tradition of starting their business out of their home. According to the Wall Street Journal’s on-line StartupJournal.com, The number of full-time home-based businesses has risen 3.1% during the past five years to 9.9 million in 2004.‘ It can be the only way that many new businesses can save enough on the costs of start-up to make it during those dicey early months of operation. It takes many forms: the garage, the kitchen table, the basement, the bedroom, the dining room table, or some combination of these.”
David St Lawrence on June 28th, 2004 at 6:45 pm
Thanks for the link to the WSJ article. I have been doing a series of posts on micro-businesses and could not find recent figures for this emerging sector.
Micro-businesses are defined as small business with less than $1 million in annual revenue. The SBA has been observing them, but there are no recent official reports on their number and contribution to the economy.