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Home Business: 90% Plan Expansion this Year

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 rea... »

Cost-cutting Small Firms Head Home

An estimated 400,000 small businesses have quit their offices to set up at home since the onset of the credit crunch last November, according to research by telecoms firm O2. The O2 survey of 500 small firms revealed that 13% have not renewed their office lease over the last eight months (equating to 50,000 UK small businesses per month), instead choosing to move their business back home. Of these, 62% cited the need to reduce their costs as their main reason for moving. According to O2 head of SME marketing Simon Devonshire, credit crunch fears and the threat of possible recession were also among the factors that stopped businesses committing to new rental contracts. “Getting rid of the office relieves many small businesses of a major overhead very quickly and shows a rapid response... »