- 46% of UK adults now run a side hustle with almost seven in ten (70%) side hustlers surveyed aiming to grow their business.
- eBay and Small Business Britain call for a ‘Micro-Business Lane’ to cut paperwork, unlock finance and help side hustlers sell overseas.
Britain risks missing a growth opportunity on its own doorstep by failing to help side hustles become sustainable businesses, eBay and Small Business Britain warn in a new report published today. The report reveals new research from the Small Business Institute which finds that almost seven in ten side hustlers want to grow their venture – this ambition could help build the country’s next generation of employers and exporters.
Accelerating growth among small and medium-sized businesses by just one percentage point a year could add £320 billion to the economy by 2030. Realising that wider potential means backing tomorrow’s businesses, not just those already established.
Almost 50 per cent of side hustlers say more reliable income would help them make it their main livelihood: the challenge is turning early demand into a business they can depend on. Yet too many founders fall between systems that treat them either as casual earners or established companies. Banking, regulation and business support have not kept pace with people building a business gradually, around a job or family life.
The report’s central recommendation is a Micro-Business Lane, urging government, banks and big businesses to “think micro first”. That means less paperwork, clearer rules and finance designed for businesses starting small – not expecting a sole trader to navigate systems built for companies with finance directors and legal teams.
“The way people start businesses has changed, but too many of the systems around entrepreneurship are still built for a world where you quit your job, invest your savings and take the leap,” Michelle Ovens CBE, CEO and Founder of Small Business Britain.
“That is a huge opportunity for the UK. A side hustle can be the first step towards greater financial independence, a full-time business, new jobs and new markets, but we need to make sure our systems help people move forward rather than creating barriers just as they begin to grow.
“We should not be asking entrepreneurs to take a blind leap of faith. We should be building the confidence, skills and support that allow people to take the next step when their business is ready.”
The report argues that supporting side hustlers is not simply about encouraging more people to start businesses but helping viable ventures move from experimentation into sustainable growth.
Eve Williams, Vice President and General Manager, eBay UK, said: “Side hustling has become a mainstream way to build a business in Britain, and this speaks volumes about the resilience, ambition and creativity of UK entrepreneurs.
“We also believe that the opportunity to start and grow a business should be accessible to everyone no matter where you live or what socio-economic background you come from. The Government needs to step up for small businesses where it has the most impact and that’s why we’re backing the call for a Micro-Business Lane – cutting paperwork, improving access to finance and making it easier for founders to turn early momentum into sustainable, growing businesses.”