Partner Article

Homeworking worth £8bn to the economy

The value of home and garden-based businesses will top £8bn this year, a rise of more than 25% in two years.

A survey of homeworkers for Asda indicates that whilst economic conditions may be challenging, the average turnover of home-based businesses has risen 25% in the last two years.

Nearly a quarter of businesses surveyed employed more than one person, and one in twenty employs more than five.

Dan Carroll, Asda’s homeworking specialist, said: “Many households are taking a go-it-alone approach to business and are reaping the rewards.

“The low cost of starting up a business means that many households are pursuing the entrepreneurial dream.

“With the value of the back garden economy reaching an amazing £8 billion, home-based businesses are now lending a whole new meaning to the term ‘home economics’.”

16% also stated their turnover had been in the £100-£150,000 range in the last twelve months and 7.9% said their turnover had exceeded £200,000.

Lower costs, easier childcare and a sense of it being a more modern way of working were among the main reasons cited for working from home.

Looking to the year, 13.5% of respondents expected turnover growth of 20% or more, and only 5% expected no growth or a decline in sales this year.

The research was carried out by shedworking.co.uk, for Asda, and the results reflected booming growth in sales of sheds, low-cost office technology and stationary for potential home use.

This was posted in Bdaily's Members' News section by Tom Keighley .