Great time to start an online business

Skyrocketing oil price, stock market crashed, business scandals, bailout, company collapsed, retrenchment, layoff ... these are the negative events from 2008. So will 2009 fair any better ? Actually, now IS a great time to start an online business. While corporate America suffers, the best home-built businesses thrive. So it is time for beating a bad global economy -- from home.

Indeed, more than half of all U.S. businesses are now run from kitchen tables, extra bedrooms, basements and garages. Home-based businesses make a $530 billion contribution to the nation’s economy each year.

And for many Americans, starting up at home has become a necessity. What appeared to be simply another economic downturn a year ago, has devolved into a far more dire situation. Major economic giants, including Lehman Bros., American International Group and General Motors, have shown their vulnerability. As corporate titans lay people off by the thousands, many Americans are being forced to find new ways to make a living.

Their criteria? Inexpensive to start. Immediate results.

Enter home-based businesses. Running your own show from home typically requires little more than a skill set and a passion. It has become the stepping-off point for many a newbie entrepreneur. Greasing the skids for home-based startups are key solutions that bring home operations to life.

Leveraging on past corporate skills

Americans looking for shift of new income source is clearly leveraging skills accumulated during their corporate careers and previous entrepreneurial adventures. They're realizing that they can no longer count on long-term corporate careers.

Adding additional impetus, Americans have watched their retirement savings wither with Wall Street, forcing them to figure out ways to replenish their coffers. That helps make the income generated from a home-based business -- whether primary or supplemental -- incredibly appealing to Americans. Not to mentioned, this trend is also taking place in other parts of the world.

Passionate about online business

But as compelling as the income may be, the one driving force for the success of a home-based business is: passion. Or to some, it is a: mission.

The opportunity to do what you love, minimizing commuting expenses, to have proximity to family and pets and the comforts of home while conducting meaningful work (and get paid), still plays the starring role. Running a business built around a passion adds meaning and direction in life, a welcome antidote to these confusing and disenfranchising times.

The startup world shows no signs of slowing down. Whether people join to combat a tough economy, as an alternative to the corporate life or to simply follow their passions, startups are alive and well. Unlike many of the big enterprises out there today, a great number of home-based ventures are still open for business and truly thriving.