Homeworking set to contribute £8bn

People who work from home are set to contribute around £8 billion to the UK economy this year, according to recent research.

The poll, conducted by Shedworking for Asda, revealed that home-based businesses are showing strong levels of growth, despite the wider economic difficulties present in the country. In fact, the £8 billion figure is an increase of almost £2 billion from the same poll in 2010.

Furthermore, the majority of businesses were confident about their expansion prospects. Almost 79 pre cent expected to work from indefinitely, but many were also looking at expanding out of the home, with 13.5 per cent of those predicted turnover growth of 20 per cent or more.

Just five per cent of those questioned expected no growth or a decline in sales, while 35.1 per cent were looking at growth of between five and ten per cent.

Alex Crow, homeworking specialist with Asda, commented: “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'.”


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