Home-based businesses (or HBBs) account for a vital portion of the UK economy. According to Eurostat, the UK has the 3rd largest percentage rise in self-employment since 2009 with 19% – well above average. In 1st place are Slovenia with 23% and 2nd place is Estonia with 20%. But how many people in the UK are self-employed and running their own home-based business? Check out our Home Business Statistics UK 2015 infographic:
UK Home Business 2015 Facts and Figures
5 million people in the United Kingdom are self-employed, with the vast majority of those (4.6 million) stating that self-employment is their main job. That’s 1 in 7 (or 15%) of the UK’s total working population – the highest percentage of self-employed people in the UK in over 40 years, since the data was first collected. We are at an all-time high!
The rise in self-employment figures can be predominantly attributed to fewer people leaving self-employment than ever before. So even though the inflow rate has remained quite steady, the outflow rate is dropping.
The top 3 self-employed jobs in 2014 are:
- Construction and building trades (167,000)
- Taxi drivers and chauffeurs (166,000)
- Carpenters and joiners (144,000)
The Self-Employed Selfie (based on 2014 figures)
- Average Age: 47
(7 years older than the average UK employee)
- Average Hours Worked per Week: 40
(2 hours longer than the average UK employee)
- Most likely from London (17.3%)
However, “homepreneurs” paint a very different picture of a completely different brand of self-employment….
What is a Homepreneur?
Homepreneurs are simply entrepreneurs to work from home or run a home business. Over 60% of new UK businesses are now started at home. And nearly 30% of new home businesses were established during the last year, mainly in business services and creative industries.
For male homepreneurs, the top 3 industries for their home business are:
- Business Services (29%)
- Creative Industry (24%)
- Professional Consulting (19%)
For female homepreneurs, the top 3 industries for their home business are:
- Creative Industry (34%)
- Business Services (29%)
- Retail (17%)
For as many as 69% of homepreneurs, this is their first attempt to run a business. In comparison to the male-majority of the self-employed, 64% of homepreneurs are female. 72% of which are not mothers, debunking the myth that many women who start home businesses are predominantly stay-at-home mothers.
If you have a home business, you will need to consider what type of business insurance you will need. Call us now and we can discuss what’s right for your home business!