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Internet businesses have been booming for several years now. But considering the broad-scale economic problems we see in other parts of the world, some questions arise about internet-based small businesses...
How will the decreased economy affect the trend of online business growth?
Is the number of new internet businesses likely to increase or decrease in a poor economy?
I'd like to take a look at these questions and see if we can find some satisfactory answers.
Take a journey with me for a few minutes and we'll consider some of the key factors of internet-based businesses in today's economy.
Why Small Businesses are Better?
I'd first like to explore the argument that small businesses are better for us in today's economy. I don't mean unprofitable small businesses, but highly profitable and successful ones.
Reflect for a moment and consider that small businesses are not on the public stock market. They may be private enterprises run from one or a few locations—or even from the owner's home. They are not subject to collapse by a trade-in of their stock. Their size, low government regulation, and other natural limitations are a safeguard from sudden collapse.
Small businesses benefit the economy in a number of ways. One of these ways is that they provide a natural diversification of funds in the economy. Having the bulk of the economy's money spread across a multitude of small businesses rather than a few large ones has some obvious benefits to the economy on a whole. In fact, the more small, diversified, and successful businesses we have in our economy, the less prone it is to general failure.
The Benefits of Working from Home
Now let's take a look at that group of small businesses that are run from home, often called home businesses. Home businesses are typically run by individuals and families. These can comprise a host of various business types, from maid-service to general contracting work, from network marketing to online businesses. There are a great many ways to run a business from home these days.
But what are the benefits?
There are some obvious ones. First of all, not having to travel to and from an office everyday saves on transportation costs. Especially with oil prices being high, this is a great benefit. Not only gas, but wear and tear and other travel expenses can be eliminated or dramatically reduced by running a business from home as opposed to working away from home.
Another great benefit is the ability to choose one's own schedule. Depending on what type of business you are running, the flexibility of doing business from home can be very appealing.
Scheduling flexibility can be a great plus if you are still working an office job and are running a business from home on the side. In fact, this flexibility can, in many cases, even provide the ability to gradually build up a business until your office job can be dropped.
Running a business from home can also provide side benefits for families by allowing more time together. This can help you build better relationships in the family, which in turn can bring benefits like reduced stress and more happiness to life.
The Increased Need for Additional Income
Now let's get back to the economy.
With the dollar dropping in value and costs of goods and services on the rise, many people are finding that the income from their day job just isn't enough anymore. Unfortunately, in many cases, incomes have not yet risen to match the rising costs. Maybe this is the case with you.
If you are supporting a family, this can be an even bigger hit. So we find that many people are looking to increase their income to a more comfortable level, especially those that have increased family needs to meet.
In many cases, finding another job is not a great option.
Why not? Because, with salaries being too low across the board, another job may not provide the additional income necessary to meet the increased cost of living. And with the economy being low and many businesses suffering, asking for a raise probably won't get you too far either.
So what do you do?
How Online Businesses Fill the Need
Now take a step back and look at the overall picture...
There is a need here. The need is for individuals and families to create more income without having to find another job. And this additional income must be created by working on a flexible schedule to work around an existing job.
But who wants to work two jobs? We've all heard of this before, and it isn't much fun. Maybe you’re even doing it now.
Well, there is a solution. The situation may be tough, but there is a perfect fit. And that solution is...
Yes, starting an online business can bridge the financial gap created in the lives of many individuals and families in our current economy.
How? By meeting the needs and providing the benefits that many people are looking for.
Look at it again. You can run an online business by working from home. This gives you...
The ability to make money without traveling to another job, saving you transportation costs
Flexibility in your schedule, so you can start your home business while still working your day job
Potentially more time to spend with your loved ones
And running an online business can provide the needed financial benefits...
Low start-up costs and operating costs
Additional income (filling the financial gap)
The potential to eventually replace your day job, giving you more time and flexibility than you may have ever known
Further, starting an online business can help the overall economy as well by diversifying the country's business funds across small businesses just a little more.
Why work for big businesses when you can work for yourself?
Conclusion and Prediction
In summary, when you consider all of the above, I think it is highly likely that online businesses will be on the rise in the immediate future.
There are more and more people that may find their needs well met by creating a side business on the internet. Starting a new online business can not only help bridge the gap but also provide the possibility of creating long-term residual income.
In fact, many people have brought their financial dreams to life with internet business.
You could, too!
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