Given the number of American entrepreneurs who run their businesses from a home office, the current problems in the housing market could have a major impact on American small business.
“In addition to being a place of business for over 50% of entrepreneurs in our nation, many micro-businesses utilize the equity in their home as financing to start and grow their firms,” commented the Executive Director for the National Association for the Self-Employed, Kristie Darien. “Therefore the current housing crisis, particularly falling home values is of great concern to the small business community.”
According to Darien, forty percent of micro-business owners said they were unsure about their ability to afford their home now or in the next few years due to the type of mortgage they have. Continuing to think about future plans, sixty-two percent reported being troubled about the resale value of their home and property. Knowing that ref... [Read Full Article]