Home Business: 90% Plan Expansion this Year
Small Business News – 19th February 2009
Low overheads are allowing more than 90 per cent of home businesses to make expansion plans this year despite the recession, according to home-business support organisation Enterprise Nation.
Research by Enterprise Nation revealed that 57%of home businesses intend to extend their product or service range this year, 30% plan to work in partnership with other businesses and seven per cent expect to hire staff or outsource work in order to grow.
“Home businesses are less affected by the downturn as they operate with low overheads, they don’t have huge rent outgoings and tend to outsource work to others rather then employing people, so they can be more flexible,”
said Enterprise Nation founder, Emma Jones.
“It is highly realistic that these businesses expect to grow,” she said. “They tend to know their audience incredibly well and are often appealing to a niche so they can keep their marketing costs low. Their customers also tend to keep buying from them because they give a good targeted service.”
Jones added that due to the recession a lot of people are holding down a full-time day job as well as building up their home business in their spare time.
“Economic conditions are forcing people who are very nervous about their jobs to want the freedom and flexibility that self-employment brings,” she said.
“They are holding down a full-time day job and starting a part-time business at nights and weekends which will eventually become a fully-fledged business, and that is a big contribution to the sector’s growth,” added Jones.
For more information on running a home business, visit the Enterprise Nation website