We like to think of ourselves as passionate, entrepreneurial folk here at House of Coco and so it was no shock to us when we heard that Britain is a nation of ‘Passionpreneurs’ according to this survey. Ok, we hadn’t heard the term a few days back either but it seems to be a new trend.
We hate our jobs when we hit 45 years old (49%) and want to set up a business linked to food and drink (21%). Ahead of the return of BBC’s Great British Bake Off, there is a prediction that the 80% of Brit workers who hate their jobs may well start a new business by the end of 2015.
These budding business owners are being called Passionpreneurs as the new trend shows that a fifth of us are inspired to set up solo on the back of a hobby.
80% of British workers want to be a Passionpreneur
45 is the age we lose the love for our job (56%)
A new hobby inspires a fifth of us to become a passionpreneur (26.4%)
Owning a business linked to Food & Drink is the ultimate dream (21%)
Top 5 Passionpreneur role models: Richard Branson, JK Rowling, Lord Sugar, Jamie Oliver and David Beckham
80% of British workers would give up their day job to start a new business linked to a hobby or a passion of theirs if money was no objective according to a new survey1. Nearly half (49%) have little to no interest in their current career with the passion gone for good when we hit 45 years old (56%) according to Amway UK Ltd, a world leading direct selling company who commissioned the research.
Hobbies inspire Britain to be a nation of Passionpreneurs!
The findings show that a new hobby inspires a fifth of us to give up the day job and become an entrepreneur (26%). For women, running a business linked to a passion for food and drink (26%) is the dream whereas for men, it’s their passion for outdoor activities and sport (30%).
Collectively, the top ten passions that British workers would like to turn into a business are:
- Food & Drink (21%)
- Sport & Fitness (12%)
- Creative Arts (9%)
- Home Design (8%)
- Fashion Design (7.8%)
- Digital & IT Innovation (7.6%)
- ‘Boys Toys’ (6.6%)
- Journalism/Blogging (6.2%)
- Wellbeing (5.3%)
- Performing Arts (4.4%)
Who is most likely to make it as a successful Passionpreneur?
The research shows that aspiring ‘Passionprenuers’ – those running a business linked to a hobby or a passion – are most likely to be between the ages of 18-24 years (60%).
In fact, a third within this age group (31%) are 5-9’ers – people creating a new business idea outside of working hours.
What does it take to be a Passionpreneur?
Passion (64%), determination (51%), self-discipline (45%), energy and stamina (44%) and business knowledge (39%) are the top five skills needed to be a successful Passionpreneur according to the survey. Embodying these qualities are the inspirational passionpreneur role models of:
- Richard Branson (30%)
- JK Rowling (20%)
- Lord Sugar (16%)
- Jamie Oliver (9%)
- David Beckham (8%).
The impact popular culture has in business
The research also looked to reveal how popular culture is influencing ‘passionpreneurship’. Twice as many people (56%) found Kim Kardashian to be an inspirational Passionpreneur compared to Martha Lane-Fox. Lord Sugar’s ‘The Apprentice’ TV fame, too, no doubt helped push his popularity up with younger Brits (23% of 18-24 year olds).
Not all celebrity figures are highly regarded for their commercial acumen however. Kanye West and Gwyneth Paltrow – both running successful businesses linked to their own hobbies – were the least inspirational, coming bottom of the poll with just 0.3% and 1.8% respectively.
BBC Television programmes like The Sewing Bee and The Great British Bake Off have clearly captured the imagination of young British workers. 71% aged 18-34 years old have started sewing, crochet and knitting recently as a new hobby and nearly 2 in ten (18%) would like to start a business linked to Baking and Cooking.
By stark contrast, the 55+ group is inspired by something a little more racy! The Fifty Shades of Grey phenomenon is possibly to blame for 15% wishing to set up a business linked to writing.
The survey conducted with 2000 men and women into Passionpreneurship was commissioned by Amway UK to mark the launch of Britain’s Top Real Role Model 2015 (BTRRM) – a nationwide competition to uncover unsung British entrepreneurial heroes. This year’s focus is on Passionpreneurs and the overall winner will receive a £5,000 investment for their business.
Sheryl Franklin-Worth, Corporate Affairs Manager at Amway UK concludes: ‘Our research shows that the next big breakthrough in business could be right under any budding entrepreneur’s nose– an association to a hobby or a passion of theirs. That’s not only an exciting prospect for aspiring businessmen and women, but also for local communities. Imagine the energy that could be injected into our villages, towns and cities if we saw a great surge in hobby-based SMEs!
“This is one of the reasons why Amway UK set up its annual competition to find Britain’s Top Real Role Model five years ago. As an organisation, we are supportive of the next generation of business leaders and the value they add in their community. We want to do our part in helping a new fledging commercial venture achieve their full potential where possible.”
How to apply
To enter Britain’s Top Real Role Model visit www.btrrm2015.co.uk. Nominations open on 14 July.