Creating Wealth In a Home-Based Business  By Ron Taylor The Small Business Administration predicts nearly 95% of all businesses will close or fail within five years of their opening. In my opinion, this statistic needlessly scares budding entrepreneurs. Sure, it is important that you know the odds against you, and that you conduct due diligence before signing your name onto the dotted line of a huge loan. However, one way to reduce the cost of entering into a business, improve the chances of your financial success, and minimize the downside potential of failure, is to start a home-based business and continue to learn from this newsletter. According to a U.S. Census Bureau survey of over 16 million small business owners, 64% of businesses with receipts of less than $5,000 were home-based, compared to only 5.8% of firms with receipts of $1,000,000 or more. Additionally, 29% of all respondent firms with 1 to 4 employees operated as home-based firms in 2002, with roughly 41% of all home-based businesses not hiring employees. While the Census Bureau just states the facts, the underlying message is that home-based entrepreneurs do not contribute to the job market. Don’t feel bad. As a home-based entrepreneur I have no interest or desire to hire or retain employees. That’s the beauty of a small business. And when you combine a home-based business with the marketing power of the Internet, you have a recipe for astounding financial success. As a former employer I contended with the daily barrage of government agencies asking me to garnish wages, attend employment hearings, verify employment, screen for illicit drug use, and defend my hiring practices. When you throw in costs of labor, such as: matching Social Security taxes of 7.5% of gross wages, holiday pay, sick leave pay, maternity leave pay, comprehensive medical plan expenses, and worker’s compensation fees of around 10% of gross wages, the costs and hassles of operating a brick and mortar business with a bevy of paid employees becomes outrageous. I have a better idea. Find a niche where you can provide a quality product or service in an area you are interested in. Access and service your customer base via the Internet, and use the advice in this newsletter to expand your business. Provided you operate a legal and ethical business, you will be in the driver’s seat and control your own financial future. I’m pro home-based business and living large on the entrepreneurial spirit sweeping across America. Despite what the government may think of our operations, men and women with vision and the courage to build a business out of his or her garage built this country. And as President Calvin Coolidge was fond of noting, “The business of America is business.” Reference Box: Ron Taylor is living the entrepreneurial life by building a home-based business and sharing his experiences with others. You can take a free tour of his opportunity by visiting: http://www.automaticbuilder.com/bt45223