Home is where the wealth is for 2010 in the US business sector, reports Small Business Trends. So what of the UK?
Despite jeers from some, working from home is the in trend in the US, as more than half of US businesses are conducting their business from the comfort of their armchairs, or sofas, or garages. And some 6.6 million start-ups will conduct their enterprises from home this year. So will we see this on UK shores? The Tory MP John Redwood wrote a couple of days ago a great post on his blog about the fact that the UK economy needed more entrepreneurs and wealth creators to keep the economy ticking over. So, if you’ve got an idea that’s worth experimenting with, DON’T HOLD BACK.
Here’s just some of the trends that are listed from their research, including:
Economic Trends
1. The Job-Challenged Economy: Despite clear signs of economic recovery, job growth and traditional employment options will be limited in 2010. Employers will continue to be concerned about the economy, focused on costs and timid about hiring. Because of high unemployment and the lack of jobs, many will turn to self-employment and home-based businesses in 2010.
2. Bootstrapping: Bootstrapping was one of the most popular business terms in 2009, and 2010 will see continued small business focus on cost containment and cash flow. The obvious cost advantages of being home-based is leading to more small businesses – including employer businesses and high-tech start-ups – choosing to be home-based.
3. The Home-Based Artisan: Most think of home businesses as knowledge, commercial or office businesses. But a new do-it-yourself movement of crafters, digital tinkerers, green advocates and other “Makers” are using their garages, basements and backyards as their factories. These new artisans are combining digital technology and tools with traditional methods to create innovative products, processes and business models.
When the UK does ‘technically’ come out of recession, it won’t feel like that for some. The human brain when it’s challenged in times of trouble can often come up with gems for survival. So use it…
