Survey uncovers the UK’s “secret entrepreneurs”
One in three Brits have plans to turn their hobbies into businesses but new research has found that many are already running a business on the side while working nine to five.
A survey by Crunch Accounting has uncovered what it describes as the nation’s “secret entrepreneurs”; 15% of those polled have a hobby that is already making them money and a further 21% have a hobby that could be lucrative in the future.
Overall, 12% of Brits are considering starting a business in 2017 and almost half (44%) would be prepared to take a drop in salary if it meant they could follow their dream.
A third of the employees surveyed also admitted to “moonlighting” - working extra work hours on top of their main job. Unsurprisingly, money is the biggest (46%) factor driving people to seek extra work. However, one in five also want to develop new skills, with a fifth saying it helped them have fun and meet new people.
However, despite the fact that more people are starting up businesses on the side based on their hobbies outside of work, 10% of these entrepreneurs have kept their activities secret and two-thirds of those working extra hours say they are worried about how their boss will react when they find out.
Darren Fell, ceo of Crunch Accounting, said: “Self-employment is on the rise in Britain, with the number of people working for themselves growing 40% since 2000. This number is set to reach a record five million by the end of the decade. So, it makes sense that British employees are starting to look at their passion projects and hobbies, and ask, why can’t I make a go of this as a career?”