As the lingering effects of the “Great Recession” continue to influence the lives of countless average Americans, more and more displaced workers are turning to home-based businesses (HBBs) in an attempt to reverse sagging fortunes.
And as U.S. Small Business Admin-istration statistics indicate, over half of all small businesses begun in the last decade have been home-based – more than 24 million in real numbers – with a new home-based business being launched every 11 seconds.
They’re facts that should not be lost on many condo board members, some of which still preside over properties with express prohibitions against such activities. But should associationsmove to amend their governing guidelines, often requiring an amendment to the property’s declaration or master deed, to eliminate these provisions? Yes, say experts in both business and legal fields.
HBBs More Efficient
“There’s been so much outsourcing,” notes writer Phil Holland. “Firms are learning that it’s, in some cases, much more efficient and less costly to outsource work than it is to have employees in offices, so that has kind of propelledthe home-based business thing. And for people who haven’t found work and are unemployed, it’s not a bad alternative sometimes to start a home-based business.”
A Los Angeles-based author and self-proclaimed “serial entrepreneur,” Holland has been involved in mentoring new business owners for over two decades. “In the mid ‘80s, I started a chain of donut shops here in Cali-fornia called Yum-Yum Donuts…. While I was in that undertaking, I wrote a book called The Entrepreneur’sGuide, published by Putnam.”