A new survey from Aviva has revealed that nearly half of all part time businesses were set up to bring in more money on top of the business owner’s day job.
Seven out of ten people polled are balancing a full-time job with their part time hobby business. Nearly half said they plan to take their business full-time, with one in ten planning to turn their hobby into a fully-fledged business within two years.
If you can manage to fit the hours in, starting up a part-time business can be lucrative alongside a day job. The poll of nearly 4,000 people found the average turnover of a part-time business is £3,800 a year. In the East Midlands, this figure rose to £6,400 a year.
Robert Ledger, head of small business at Aviva, said “If you are thinking about setting up a business it is really important to carry out research before you start to make sure there is a market for your idea or product. Setting up on a part-time basis can be a good way to test the water to see if those business ideas can work on a larger scale.”