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The recession is helping to kick-start a home-based business economy. A third of those questioned in the latest Home Business Survey said they started their home-based business within the last year, highlighting the entrepreneurial spirit that has emerged from the downturn.

The increase of 300,000 home-based businesses means there are now 2.8m businesses operating full time from home, contributing £284 billion each year to the UK economy.

At the UK Business Incubation Conference in December, I met Emma Jones, founder of Enterprisenation.com , a free resource to help you start and grow your business at home.  I’d heard about Enterprise Nation through Twitter and Global Entrepreneurship Week (they had a Home Enterprise Day).

Emma gave a talk to incubation professionals about how incubators can support homeworkers – since not all will want (or need) to take up actual residency in the incubator.  Emma’s talk and energy really inspired me; it’s so relevant to how we live and work now. Plus she’s actually an experienced entrepreneur (she set up her first business at the age of 27 and sold it 15 months later).  We heard about the growing culture of “5 to 9″ ers people who work a full time job and run an additional business at home, of an evening.   Some do this as a hobby or to unleash their creative talents – many don’t aim to give up the day job.  Truly enterprising.

Homeworkers are often underrepresented in economic statistics as home businesses commonly outsource rather than employ.  Family commitments, personal preference, cost, lifestyle, location and the environment are all reasons why people might run a business from home.

Whatever the reason, if you are running a business from home, take a look at Enterprisenation.com .  It has great resources and links to help home businesses start up and grow.  I’ve already recommended it to a few homeworkers I work with.  When the weather is this snowy, there are more reasons than just bootstrapping for working from home!

The Home Business Report from November 2009 makes interesting reading.  Homeworkers should be celebrated.  I wonder how many we have on the Isle of Man and where their customers are? I’d love to meet some tech start-ups who are currently working from home.

Business incubators can help home workers in different ways.  The need for professional, physical office space and face-to-face networking is still (if not more important) even though the majority of work is done at home.  Business planning support and advice is relevant regardless of where you’re working.

If you are setting up an enterprise or have an innovative idea or invention,  contact the Isle of Man Business & Innovation Centre -  you could work at home, from our offices or both and receive business support and more. Support is free upon successful application.  Pre-start ups and aspiring entrepreneurs, or those looking for a collaborative venture are very welcome.  +44(0)1624 820930 .

Posted January 5th, 2010 by Kate No Comments »