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'Side hustling UK adults face outdated systems' as nearly half now work extra jobs
The report says 68% of side hustlers want to expand, as it urges simpler banking, regulation and support for micro-businesses.
- A new report from eBay and Small Business Britain warns that Britain risks missing growth opportunities by failing to support side hustles, as almost seven in 10 side hustlers want to expand their ventures.
- Michelle Ovens CBE, founder and CEO of Small Business Britain, said entrepreneurship systems were designed for traditional employment transitions, leaving banking systems and regulations unable to keep pace with modern side hustlers.
- The report welcomes the Government's decision to increase the Trading Allowance from £1,000 to £3,000, with researchers finding that 55% of side hustlers would be more likely to invest if the allowance was increased.
- To address these barriers, the report calls for a "Micro-Business Lane," encouraging government, banks, and large businesses to "think micro first" when designing policies to help founders progress.
- Government estimates suggest that increasing the number of growing small and medium-sized enterprises by one percentage point annually could add £320 billion to the economy by 2030, reflecting the potential impact of supporting small business growth.
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Northampton Chronicle & EchoReposted by 
Chad
ChadSupport needed to help side hustles become sustainable businesses, report says
A new report from eBay and Small Business Britain finds strong growth ambitions among side hustlers and calls for greater support to help them develop into long-term businesses.
·Northampton, United Kingdom
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Halifax Courier+47 Reposted by 47 other sources
'Side hustling UK adults face outdated systems' as nearly half now work extra jobs
A new report from eBay and Small Business Britain finds strong growth ambitions among side hustlers and calls for greater support to help them develop into long-term businesses.
Coverage Details
Total News Sources50
Leaning Left3Leaning Right0Center40Last UpdatedBias Distribution93% Center
Bias Distribution
- 93% of the sources are Center
93% Center
C 93%
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