Recession is "opportunity" for home businesses

15:00 22nd June 2009

The recession is a great time to set up a business from home, according to an industry insider.

George Derbyshire, chief executive of the NFEA, said: "This is a time when many people are seeing that there are opportunities to start their own business."

Creating a home-based enterprise may be a clever way to embark on a career change.

Mr Derbyshire said many people who have been made redundant are turning towards setting up their own company from home instead of searching for a new job.

He added that the NFEA wants to make sure these businesses get the credibility they deserve.

"We want to put those enterprises on a respectable footing as it were and just make the point that it is a legitimate...way to operate business."

In July, the NFEA is hosting its first Home Enterprise Week in recognition of the fact over 60 per cent of small businesses are now started at home.

Around eight million people will draw an income by working from home this year.