|
New research from Samsung Electronics UK in association with the Centre for Economic and Business Research (CEBR) and YouGov, found that more than one in ten (12 per cent) British workers have left previous jobs to become ‘funtrepreneurs’, pursuing a career they are passionate about.
People who have turned their passions into pay checks expect to make an average of £22,594 in their first year of working, with this figure set to rise by 50 per cent to £33,845 in the space of five years.
Additional research from the CEBR found that these passionate entrepreneurs are currently contributing a collective £165bn to the UK economy, based on wages, taxes and profits, with this figure set to rise to £228bn in five years’ time.
Passions
Two in five workers who left their jobs to pursue a career that aligns with their passions said they did so because they didn’t like the working culture at their old company, while almost a third claim they wanted a change of lifestyle, with over one in ten stating they wanted to be their own boss.
Advertisement 
The additional study also found that senior decision makers in micro-businesses believe there are additional benefits to those who have turned their passions into pay checks, expecting those who have done so to have increased job satisfaction, increased creativity and improved focus at work as a result of pursuing their passions.
Indicating that this trend may continue to rise, the research found that more working millennials are planning to leave their current jobs to pursue their passions than other generations, with nearly a quarter of 18 to 34-year-old workers preparing for a change of career, compared to just two per cent of workers aged 55 and over who hail from the ‘career for life’ generation.
The study also revealed that slightly more women than men have taken the leap of faith to turn their passions into pay cheques. Looking across Britain, a larger proportion of people in London have left their jobs to pursue their passions than anywhere else in the country, with those in Yorkshire least likely to do so.
Technology
The study also indicated that technology is intrinsic in helping funtrepreneurs to build their new businesses, with 59 per cent saying tablets and laptops would be fundamental if they were to start their own company, while over half cited Wi-Fi and 4G connectivity.
Meanwhile, nearly a third of workers claim flexible working spaces such as Club Workspace or Central Working in London would be key to kick-starting a company, with the majority of workers saying they prefer to work flexibly, whether that be at home, in a café, or in the office.
Alasdair Cavalla, senior economist at Centre for Economics and Business Research, said: “We were fascinated to find that a clear majority of microbusinesses were set up by people passionate about their sector or product. Many small, dynamic businesses may never have been set up were it not for people taking this risk to pursue work that they care about. The economic benefits don’t stop at the founding of the business – compared to whole-economy averages, we found clear evidence of fewer sick days, higher productivity and greater job satisfaction among people following their passion.”
--
If you wish to comment on this article, please log in and use the Reply button below. Registering is free and easy - see 'Join Shout99'.
-
Susie Hughes © Shout99 2016
|
