Home Based Companies On The Rise

In yesterday’s post, we discussed the benefit of flexible working for parents. We also found that most employers were reluctant to implement such a policy and most employees felt uncomfortable raising the matter – especially in the current economic climate.

However, according to a recent report conducted by ‘Entrepreneur’, a quarterly magazine dedicated to reporting on trends in the SME and company formation sector, many people considering forming their own company are doing so from the comfort of their own home.

As anyone, starting their own business will tell you, it can be hugely costly and present you with unexpected financial challenges and in a context of restricted lending it is vital that your start up is as cost effective as possible, right from the offset. That is why many entrepreneurs are foregoing expensive offices and enjoying the flexibility and financial freedom, working from home gives you.
According to the ‘Entrepreneur’ report over five thousand home based companies are formed every week which accounts for an estimated annual turnover of £284bn.

Rachel Miller, curator of the survey, comments: “In a context of increasing technological sophistication and a lack of available finance, it is not surprising that many entrepreneurs are choosing to start their company from home; not only is it more cost effective, it also offers increased flexibility and flexibility is one of the main reason many people choose to start their own company.”