Home based business opportunities have increased quite dramatically since the inception of the Internet. According to recent statistics, there are over 38 million home-based businesses in the United States alone. 70% of these home based businesses succeed within 3 years of its start-up (as compared to 30% of brick and mortar companies).
Though there are many reasons for this fast changing momentum, most can be tracked back to advances in technology and social networks that support this new business environment. This said, here’s 4 awesome advances that’s assisting with leveraging the competition in many industries today.
Incorporation of Mobile Communication Devices
Laptops, tablets, android phones, Ipads, Iphones are all part of the latest advances in technology. People can communicate to anyone that they want to all over the world. With the use of an Internet connection or a mobile phone provider’s telecommunications capability, any one start a home based business relationship within only a few communication vehicles. For example, new and seasoned business owners alike can schedule conference calls via Skype to complete a business deal. Therefore, regardless to the type of communication used and the dialogue involved, mobile communication usage is playing a vital role in ensuring these home based business owners and their employees have access to the communication vehicles needed to run an effective business operation.
Remote Access – Work from Anywhere
Alone those same lines, the new home based business owner can set-up their operations anywhere. From a coffee shop in Australia to the beach on Florida’s shores, brick and mortar facilities are no longer a requirement for running a business operation. So, the business operation can travel with the individual or the individual can travel to the business, there is a lot of flexibility built in to this new home-based business model.
Accepting Payments via Mobile Phone
In the past, an aspiring home based business owner had a lot of challenges that they needed to overcome before they could think about the possibility of conducting business from home. One of which is how the business owner would be paid for the products or services that they provided. Because the owner did not always have access to the merchant hardware that was required to accept credit payments, they were often restricted to cash payments only. Which meant, the business could not grow as quickly as they envisioned or needed for survival.
Today, there has been monumental changes in this area. In specific, the mobile phone payment systems. With these systems, accepting a credit card payment is no longer a problem. This is because credit card and debit card payments can be processed from anywhere. Within only a few seconds of swiping a credit card via a home based business owner’s android device (i.e. phone or tablet), the money is transferred one account to another.
Crowdfunding Financing Instead of Traditional Banking Resources
In addition to advances in technology, social networking has ushered in a life of its own. In fact, by incorporating technology with social networking, crowdfunding opportunities have been birth. With these opportunities, the traditional financing for small businesses is being replaced with crowds of people online funding new Work-from-Home business ideas and the like. Thereby, allowing home based business owners to bypass the traditional banking and lending institutions for financial resources that comes from the average individual who wants to invest in a good business idea. With the signing of the JOBS Act into law, these opportunities for the home based business owner is also expanding into new areas.
Opportunities for home based businesses are growing constantly, and they are being refined with new advances in technology and social networking. From obtaining business financing from crowdfunding campaigns to transferring payments from the consumer’s credit account to the home based business owner, there’s a lot of advances that makes it easy for anyone to conduct a profitable business venture from their home.