More people are piecing together odd jobs, freelancing, and consulting gigs to make ends meet as the current recession deepens. And many unemployed folks are finding themselves wondering what kind of job they might find in this tough job market. An MSNBC article makes the case that now may be a good time to launch a business from home.

About half of the estimated 27 million small businesses in the U.S. are home-based, according to the National Association for the Self-Employed. In 2007 about 55% of micro-businesses, which have 10 or fewer employees, were home-based.

If you’re an aspiring entrepreneur you’ll likely find it tough to get access to credit for your startup. But by launching your business from home you’ll have fewer expenses than if you leased a space.

“Keeping overhead costs low has always been a strong point for starting a business out of your home,” Terri Lonier, founder of workingsolo.com, told MSNBC. “But it’s even more important now as each industry gets more competitive.”

The MSNBC article features an entrepreneur who started a home-based pet care business from home, franchised it, and now earns $6.25 million in revenue. While you may not become a millionaire with your startup, there is the potential to earn a comfortable living with the right business plan and lot of hard work.

If you choose to go the entrepreneurial route, make sure you do your research to learn as much as possible about the field you’re entering. Study your competitors and discover ways you can improve upon what’s already being offered and make your business stand out.

Whether you start a service-based business or plan to sell products, part of your success will lie in the ability to offer personalized service to your customers.

This entry was posted on Friday, January 30th, 2009 at 1:15 pm and is filed under Reverse Mortgage . You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.