Newly Released Government Report Reveals Shocking Home Business Data!Would you believe it if I told you that almost half of U.S. businesses are home businesses and that most of the owners, 60%, used their own private funding to start or aquire their business. Most Home Businesses Are Self Made!Apparently, most people are using their own money and resources to start their own businesses. The report clearly indicates that a full 77 percent of business owners with paid employees and 59 percent of business owners with no paid employees used their own financial resources to get started. Top industries for these “self-made” businesses were: Accommodation and Food Services....79 percent Manufacturing....78 percent Wholesale Trade....74 percent Retail Trade....72 percent. Nearly 3 in 10, 28 percent, of all entrepreneurs started or acquired their business with no capital at all. Nearly 1 in 10 U.S. businesses were started by owners who used personal or business credit cards to finance their startup or acquisition. Home Business Owner DemographicsThe reports go on to show that most home business owners are well educated. Specifically, that 64 percent had at least some college education when they started their business and a full 40 percent had at least a bachelor's degree. Only 25 percent are shown as having a high school diploma or less. Additional interesting revelations in this report is that 31 percent of the business owners were more than 55 years old. Another 29 percent were between 45 and 54 years old. 24 percent were between 35 and 44 years old and a miniscule 2 percent of business owners were less than 25 years old! Variations Of Home Business Owners Involvement, Hours And IncomeThe report also shows that in home businesses that have paid employees, 70 percent of the owners reported that they relied on their business as their primary income source where only 44 percent of business owners without employees did. More than half of the home business owners reported that their primary function was managing the day-to-day operations involved with producing their business goods or services. Apparently the home based business that has employees takes substantially more time. Because over 50 percent of the owners who also had employees to deal with reported that they usually worked more than 40 hours per week. Where only 26 percent of home business owners that didn't have employees reported that they usually worked overtime. In fact, a staggering 43 percent of home based business owners who had no employees reported that their average work week was only 20 hours or less, where only 20 percent of the owners with employees made that claim. Thanks for taking the time to read this overview of the Census report....just click the link below to see the actual report. Here Is That Direct Link To The Census Report On Home Business As Promised
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