Quantcast

Entrepreneurial parents help to boost the economy by £14.4bn

0

The number of side hustlers – individuals who run their own business on top of their day job – has risen by 32% in the last decade, according to a report by GoDaddy and Cebr.

The report, “Side hustle: a way of life, not work” reveals, for the first time, surprising details about the side hustling population in the UK, including that 44% of side hustlers are parents with at least one child under 19 living at home.

Digital Mums co-founder, Kathryn Tyler, started the business that digitally upskills women as a side hustle: “My motivation to set up my own side hustle was to grow something that I was passionate about and, crucially, in control of. More and more, I am seeing the parents we work with looking to achieve a better life balance and pursue their creative passions.”

The side hustling trend has allowed people to pursue their passions on top of their 9-5 work, with almost half of side hustlers (48%) spending less than five hours a week on their side hustle.

According to Cebr research, these entrepreneurial Brits have boosted the UK economy by £14.4 billion to the UK, with every 1000 side hustles creating an extra 876 jobs. In 2016, 600,000 jobs were supported by the side hustling movement in the UK.

Previous research released by GoDaddy revealed that the majority (56%) of employees with a “side hustle” make £500 – £5,000 in extra income per year and 48% of employees started their “side hustle” to develop a passion or hobby.

In further evidence of the growing movement, Google Trends shows that there has been a 62% increase in “side hustle” as a search term in the UK compared to last year.

Minister for Small Business Kelly Tolhurst MP said: “Our 5.7 million small businesses are the backbone of our economy, and ensuring we grow our status as one of the best places in the world to start and grow a business is fundamental to our modern Industrial Strategy.

“The UK is a nation of entrepreneurs and this research shows our entrepreneurial spirit is alive and well in the UK. With more than 1,000 businesses starting up every day our entrepreneurs and small business owners continue to create thousands of good jobs and drive our economy forward.”

Irana Wasti, SVP & Head of GoDaddy EMEA said:

“Side hustlers are here to stay – these people all have their own ideas, their own motivations and are pursuing the passions they love. They have an irrepressible scratch that needs itching. People who pursue their business passions on top of their 9-5 often bring a unique perspective to the office and can challenge us to be more creative and entrepreneurial.”

“It is easier than ever to get online and set up a website for a personal venture. With GoDaddy Website Builder you can create a website in under an hour – you’re all done within a lunch break and still leave time to grab a sandwich.”

GoDaddy’s workers have started successful businesses in areas as diverse as events management, ethical retail, therapeutic sessions and photography. When a new employee joins GoDaddy, they receive website building tools and hosting packages to help pursue their entrepreneurial ideas and hobbies.

Side hustler and GoDaddy employee, James Vincent-Jones co-hosts a super cars YouTube channel outside of his 9-5. “I always thought you would have to give up your day job to run a business – but in this case my side hustle helped me get my day job. I’ve been interested in supercars since I was a child, and filming was a hobby until I started gaining more followers and decided to turn it into a side business. I mentioned my side hustle when interviewing at GoDaddy and it set me apart from other candidates. Getting a website was a turning point for me, I can be more creative and push the boundaries of my passion.”




Share.