Growth of hobbies becoming businesses

Posted by Ben Ryland in Personal Finance on 4 January 2017 - Ben is a Senior Credit Analyst at checkmyfile.

If you have an interesting variety of hobbies that keep you busy, you may just have the right hobby that could make you millions…or £48,000, according to 25% of Brits. have surveyed 2,000 Brits, and found that a high number of us think our hobbies could turn us a profit, with as much as £48,000 a year being estimated for some.

While it’s maybe no surprise that a lot us would prefer to be our own boss, and think that our hobbies could be a money spinner, a high 32% of those surveyed believed they were a lot better at their hobby than their actual job.

Following on from the winner of The Apprentice this year and the ever popular Great British Bake Off, cooking hobbies were seen as the most likely to tempt us into the hobby-business world. According to, 19% of those with a cooking hobby could see their hobby becoming an online business in 2017, while baking hobby enthusiasts were just behind on 18%.

Photography was another hobby which could easily lead into a business prospect in the New Year. 18% of those surveyed believed their photography hobby could become a viable business.

The results were broken down further to reveal that among the 25 to 34 age bracket, half of respondents said they had considered doing their hobby as a proper business, while one in ten of those surveyed said they had already taken the plunge and switched their hobby to a business.

With any new business comes the capital required to start it and get it going. This is often what puts a lot of those off, leaving them happy to just continue enjoying the activity as a hobby. Though according to’s survey, almost 70% said they would fund their business-hobby dream through their own money.

With all these money-making possibilities just remember, hobbies are to be enjoyed and a way to forget about the stresses of modern life. What you enjoy as a hobby, you may not enjoy as a full-fledged, highly demanding business.

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