Creative business owners running part time ventures provide £15bn for UK economy
2nd October 2014 | News
A new study has found that a third (32 per cent) of UK workers run a creative business outside of their main job, contributing around £15bn to the UK economy.
That’s according to research published this week by Moo.com, who dubbed this group of professionals as ‘venture creatives’.
The study found that one-in-10 part time creative entrepreneurs plan to leave their current full time jobs to focus on their part time venture within the next six to 12 months, while almost a quarter (23 per cent) expect to do so over the next three years.
The report represents a positive picture for entrepreneurial activity in the UK, with a rise in the profitability of those running part time creative businesses (32 per cent) on last year.
Almost two-thirds (60 per cent) stated that the primary motivation for starting up their part time business was their passion for it rather than the lure of making money. Only six per cent of ‘venture creatives’ surveyed said their part time business was used to supplement their income.
The most popular part time creative ventures were in the food and cooking industry (36 per cent), gardening (34 per cent), baking (24 per cent), photography (16 per cent) and knitting (13 per cent).
Teresa Pereira, vice president of brand and communications, Moo.com, said: “Leading a double life is no longer reserved for superheroes as more people are becoming ‘venture creatives’ in fields that are often very different from their main day job.”
The research also alluded to professionals that are “most likely to make money from a creative venture”, which were those that worked in the civil service, followed by those working in business, finance or law.