The RSA today published a major new study in partnership with Etsy, which takes an in-depth look at the UK’s growing community of self-employed ‘micro-business’ owners. Micro-businesses are defined as those with 0 – 9 employees – which describes a very large proportion of the Etsy seller community!
At Etsy, we were excited to work with the RSA to take the pulse of this growing sector of the self-employed community, and understand more about how micro-business owners feel about running their own businesses.
The report found that although the average full-time self-employed worker earns £74 a week less than a full time employee, 84% feel more satisfied than in a conventional job, and they enjoy the freedom and flexibility of being their own boss. Only 25% micro-business owners surveyed started up their business in order to escape unemployment, with many more starting their own businesses to achieve greater freedom, or make the most of their good ideas.
Micro-businesses are also a huge part of the British economic climate, with one person businesses representing 95% of growth in the self-employed community since 2000. The importance of small businesses like those on Etsy doesn’t surprise Matt Doris, who leads Etsy’s International Community Programmes team here in London. “These findings support our belief that micro-businesses with just one or two employees are incredibly important to the economy in the UK” says Matt. “The UK is a fast-growing market for us at Etsy and increasingly we are seeing people make the choice to quit their day job and pursue a creative career which provides more control and freedom in their lives.”
To download the report ‘Salvation in a Start-up?’, please visit the RSA website.