Your Home Business Helps Your Neighbors!
Yes, it’s true, having a home based business is good for you and your family, your neighborhood and city. How? It’s simple, small businesses of all kinds are the engine of growth for our country’s economy. There has been a lot of national discussion lately, especially as our sluggish economy drags on, but there is no doubt that your home based small business contributes to much needed economic growth, as I will show below.
So, starting your own small, home based business creates wealth for you and your family and, by extension, will ultimately create employment for many people near you, maybe a few neighbors, too.
Economists have studied the effects small businesses have on our nation’s economy; here are some of their numbers:
- Small businesses create 50% of our national GDP
- Employ 50% of all private sector employees
- Pay 44% of all private payroll
- Generate 64% of all new jobs (when examined over a 15 year period)
The list of good things that small businesses contribute to the U.S. economy goes on, but these few facts alone are impressive and should give you encouragement in starting your own home business!
But, you may be wondering, do these facts apply to larger, well financed, startups and not a small, home business? No, the reality is that just over half of all small businesses are home based and over 62% of those have no employees! And, close to 60% of all small businesses have revenues of less than $25,000 and are either family owned or founder owned! Small businesses are you, your family, your neighbors, their families, people you know and people they know.
You’ve no doubt heard that the raw, ugly percentage of business failure in the first year of operation is an astounding 85%! So, you may be worried more about the chances for failing in your home business rather than being confident about the possibility of success.
That’s understandable, but, with knowledge comes confidence! It’s true that most failures occur early in a business’s life and the chance of success rises as the years go by. But, let’s dig deeper into why the small business failure rate is so high. Very few of those failures are bankruptcies, about 6%, meaning most of those first year failures were voluntary and due to a few other reasons.
Lack of experience and insufficient capital were the two highest reasons for voluntary business closure, with other reasons like inventory management, poor location, competition and low sales as less important contributors to failure.
Another reason why you may be reluctant to start your own home business is that you don’t want to write a business plan! Well, you don’t need one! There are no differences between successful small businesses with one and without, with one exception. And, that lone exception is when a business wants to secure investment capital, something that very few home based businesses will need.
With the above pitfalls in mind, you may wonder whether a small business exists that you can acquire with little capital in a growing market. A home business that you can start with expert and extensive help to you and that will reward your hard work with a good income while you build equity for yourself and your family.
There is, and it’s in a rapidly growing market in a rapidly growing demographic! It’s the Health and Wellness market that has the Baby Boomer generation as the population that is driving explosive growth and will create wealth for the smart business owner who markets to it. Growth that will continue for many years to come as Baby Boomers, born between 1945 and 1964, are joining at the rate of 25,000 per day! And, they want to keep their health, vigor, youthful appearance and active lifestyle as long as possible.
With your focus on Baby Boomers, and anyone who wants to be as healthy as possible, you have a ready market for high quality, effective and safe products that will help them achieve their lifestyle and appearance goals while you create a great business for yourself. A business with minimal startup costs and that has a wealth of marketing and operational help and support and one in which your whole family can participate.
Ken is dedicated to helping motivated people learn about exciting income alternatives that will help them to live a more abundant, secure and happier life with their own successful network marketing business.
Visit my site, now, to learn how you can enjoy a more prosperous life and have the time to enjoy it!
Categorised as: Effective Marketing Thoughts