Home-based firms surviving credit crunch
Oct 16 2008
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Many people are using the uncertain economic situation to start their own firms, with two-thirds of existing home-based businesses planning to increase turnover this year.
Research from BT has found the number of people opting to start their own company from the spare room has increased by 16 per cent over the past year and now accounts for 2.5 million firms.
People in London, the south-east and the east of England are most likely to start their own business, with a third of people doing it in their spare time.
Existing home-based start ups are also remaining positive in the current economic climate, with almost three-quarters planning to take on new customers this year.
In addition, 58 per cent are developing new products for their market.
Emma Jones, founder of home-based business Enterprise Nation, says: 'More home business means more dynamism in the economy, less traffic on the roads and tighter social cohesion as parents stay home to run a business and the household.'
Most people set up their own company as it enables them to make their own decisions, with others saying it offers a better work-life balance.
BT Business also recently found that one in ten firms have reported an improvement in trading conditions.
Research from BT has found the number of people opting to start their own company from the spare room has increased by 16 per cent over the past year and now accounts for 2.5 million firms.
People in London, the south-east and the east of England are most likely to start their own business, with a third of people doing it in their spare time.
Existing home-based start ups are also remaining positive in the current economic climate, with almost three-quarters planning to take on new customers this year.
In addition, 58 per cent are developing new products for their market.
Emma Jones, founder of home-based business Enterprise Nation, says: 'More home business means more dynamism in the economy, less traffic on the roads and tighter social cohesion as parents stay home to run a business and the household.'
Most people set up their own company as it enables them to make their own decisions, with others saying it offers a better work-life balance.
BT Business also recently found that one in ten firms have reported an improvement in trading conditions.
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