INTRODUCTION
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 home 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 re-validate their freedom by opting to set up a business at home.