Perhaps I should start by asking the question “What is a Home Based Business? This is any business operated from the comfort of the residential Steel Prefab House of the owner. the next question is who is a Home Based Business owner? This refers to an Entrepreneur who decides to run his business from the comfort of his home.
I decided to clarify these terms because there is a huge difference between a Home Based Business owner and a Home worker who might be working with a government/private organization but decides to be working from home once or twice during the week.
Evolution of Home based Business
Many businesses operated from home usually start as a Micro or Small Enterprise. Some eventually metamorphose into Medium Scale Enterprise and others eventually grow into quite large companies.
The desire by Entrepreneurs to start operating businesses from home actually started in the 1980s. During this period, a lot of things combined to precipitate this massive desire by people to own Home based businesses.
In the main, the combination of many factors like socio- economic change, improved technology and new management thinking resulted in the loss of otherwise permanent paid employment and this encouraged people to attempt to revalidate their freedom by opting to set up a business at home.
The advent of new management thinking and theories like downsizing to make an organization Lean and more agile and efficient created fears in the mind of the average worker
So mass lay- offs helped create the right environment for some workers to go it alone and set up a Home based business.
The period of late 1990 to 2010 can be appropriately described as the period of massive explosion in the establishment of businesses at home. The use of Computer, Internet and Mobile Technology helped in the growth of this idea.
I strongly believe the idea of setting up business at home will continue to be positive and will remain so for a long time.
The continued upsurge in the desire of people to own businesses has attracted the attention of Universities and other higher institutions. They have responded by introducing different courses and programs on Entrepreneurial studies to cater for these needs.
Unlike earlier belief that businesses run from home are not well managed and don’t make good money, the present situation is that many Entrepreneurs motivated to set up business at home now have college degrees including a lot of high level professionals with business exposure.
The entrepreneurial spirit is innate in all of us and we only need to be adequately motivated to take the necessary action.
It’s really an exciting world out there.
THE HOME BASED BUSINESS EXPLOSION
As stated earlier, though the crave for running businesses from home started way back in the 1980s, what can be termed the explosion of this way of doing business was between the late 1990s and the first decade of the new millennium.(2010+)
This coincided with the time when the setting up of a Home based business became a Fad. According to Mr Lewis of the National Association of Home Based Businesses, Home based business in the United States grew from about 6 million in 1984 to 23 million by 2007.
With the help of modern technology like computers, mobile phones, printers and the huge power of the internet, more work is being done virtually than ever before and more global businesses are routinely being run from home.
According to the 2012 GEM report, 69 percent of American entrepreneurs start their business at home from either a spare room in the house, the dining table or from the garage. The report further revealed that more than 50 percent of entrepreneurs continue to operate from home even after the business has taken off successfully and stabilized.
Again according to Mr. Lewis of the National Association of Home Based Businesses, his own companies do training in 20 countries, import eyeglass frames from China and also develop condominiums.
Mr. Nuyten of the Home Based Business Statistics in America quoted the following statistics as at 2012:
38 million Businesses were operating from residential homes in America
A new business is started from home every 12 seconds in the United States
The Home Based Business sector in the United States earned Four Hundred and Twenty Seven billion dollars.
It revealed that 70 percent of Americans would like to be self- employed.
Entrepreneurship has become entrenched in the psyche of the average person. The Baylor University study of 2005 revealed then that more than 5 million jobs had been lost in Fortune 500 companies since 1980 while 34 million were created in small businesses.
The United States Census Bureau data of October 2012, also revealed that the number of businesses being operated from home have been on the rise since 1999.
The United Kingdom Experience
The continued growth in the Home based business sector appears to be a global phenomenon as the report from the United Kingdom will show shortly.
The United Kingdom department of Business, Innovation and Skills released a report titled ” Backing for Home Business” which revealed that 2.9 million home based businesses in the United Kingdom contributed 300 billion pounds sterling to the UK economy. The report also stated that 70 percent of all new businesses in the United Kingdom started from home.
Are you tired of the dull look of your home? Do you want a new home that matches your style and personality? If you are thinking of selling your home and interested in buying a new property in Mississauga, it is time to reconsider your decision.
Current Real-Estate Scenario in Mississauga
According to Point2Homes, a premier Canadian real estate website, home prices have increased by 10.4 percent in comparison to last year. It means you will be able to sell your home at a great price. But, do not make a quick decision of selling your old home. It is because steady rise in the home prices has led to difficulty in buying new homes.
Why are Home Prices increasing in Mississauga?
According to the Globe and Mail, Canadian home prices will decrease in 2017. It is because there is a rise in the number of first-time home buyers who find high-priced homes out of their budget. But, the scenario is different for Greater Toronto Area. Higher level of demand and growing economy will continue to increase home prices in the area. And, because Mississauga is one of Toronto’s closest neighbors, home prices will continue to rise in the future.
Also, the new mortgage rule has not cooled off prices in the Peel region. With the introduction of the high down payment rule, home listings in Toronto city have decreased. And, it has increased the home prices in Mississauga.
What is the solution for Home Buyers of Mississauga?
If you are tired of your home, do not sell it. There is an affordable option of building a home of your dreams. You can renovate your current home and make it beautiful to suit your needs. There are many home renovation contractors in Mississauga area who undertake simple renovation work as well as complex remodeling projects.
Renovating a Home in Mississauga
Whenever you think of renovating your home, you must hire a home renovation contractor. It is best to let experts handle renovation work because a small error can ruin your chances of building a beautiful home.
Decide what kind of renovation work you want the contractor to do in your home. Once you are sure of the work, hire an experienced contractor. Also, make sure that the home renovation contractor has adequate knowledge of the permit regulations in Mississauga city. Before undertaking renovation work in the city, you have to know the following things:
· Are you allowed to undertake renovation work on your property?
Mississauga city’s zoning by-law provides you with information regarding undertaking any renovation work on your property. It also involves details about the size of the structure and the parking area. If you wish to make any change to the existing structure, you will have to refer to the by-law before starting the work.
· Do you require building permit for the work?
You are required to obtain permit for different renovation work such as constructing a porch, excavating the basement, repairing the private sewage system, etc. On, the other hand, erecting a fence, installing a siding, building a kitchen cabinet, painting the home, etc. don’t need a permit from the City of Mississauga.
Renovating a home and making it beautiful is a cheaper option than buying a new home. Selling your home and buying a new one can become an expensive task in Mississauga. So, hire an experienced home renovation contractor who can work for you and help you in building the home of your dreams.