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Home-based firms going from strength to strength

Summary

Those running a business from a garden office may have plenty to be happy about hearing that figures show the value of home-based businesses will top £8 billion this year.

Our Solution

Those running a business from a garden office may have plenty to be happy about hearing that figures show the value of home-based businesses will top £8 billion this year. Statistics from a survey of homeworkers for Asda show that garden-based firms are laying waste to challenging economic times, as their average turnover has risen 25 per cent in the last two years, reports bdaily.co.uk. In addition, around a quarter of these businesses employed more than one person and one in twenty employs over five staff members. Furthermore, 16 per cent of businesses said their turnover had been in the £100-150,000 range in the last 12 months, while 7.9 per cent claimed their turnover hit the dizzy heights of £200,000 and over. Some of the reasons why those surveyed decided to set up a business at home include lower costs, easier childcare and the sense of it being a 'more modern way of working'. Alex Crowe, Asda's homeworking specialist, spoke to independent.co.uk about the trend: "Many households are taking a go-it-alone approach to business and are reaping the rewards. The low cost of starting up a business means that many households are pursuing the entrepreneurial dream. "With the value of the back garden economy reaching an amazing £8 billion, home-based businesses are now lending a whole new meaning to the term 'home economics'," he added.

Author:

Ashley Curtis

1st May 2012