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Britain's £380 billion home business revolution

Britain's £380 billion home business revolution
Enterprise Nation
Enterprise Nation
Enterprise Nation
 

Posted: Fri 31st Jul 2015

The UK's kitchen table, dining room and bedroom office businesses are booming. Companies run from a residential address now account for 59% of all small and medium sized enterprises and they generate a total turnover of £380bn.

According to the data from the Department for Business, Innovation and Skills (BIS) home businesses are also responsible for employing 4.8m people with a third of all SMEs with staff based at home.

A fifth of home companies are run by a woman, while 68% have been trading for more than a decade. Another 24% have been in existence for between four and 10 years, BIS said, and 7% are less than four years old.

Enterprise Nation is home to thousands of home-based entrepreneurs from across the UK and last August we celebrated the sector at our Home Business Summit attended by prime minister David Cameron.

We also published our Home Business Report which revealed their role in the British recovery has been under-estimated and they are key to boosting local economies.

Emma Jones, founder of Enterprise Nation, said: "Homepreneurs are not low-paid hobbyists, they are not being forced to operate under zero hours contracts or longing to get back into the world of employment.

"Instead they are experienced professionals who are using their skills to create value, spend more time at home and money in their local environment while avoiding the financial and time costs associated with holding down a job.

"They are trading nationally and internationally and this diversification both protects them and means their growing contribution will help speed the UK's economic recovery."

For advice on growing a home-based business, click here.

 
Enterprise Nation
Enterprise Nation
Enterprise Nation
 
Enterprise Nation has helped thousands of people start and grow their businesses. Led by founder, Emma Jones CBE, Enterprise Nation connects you to the resources and expertise to help you succeed.
 

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