One in four Brits ‘think they could make £50,000 from their hobby’

A quarter of Brits think they could earn almost £50,000 a year by monetising their hobby, while one in three think they’re better at their pastime than they are at their day job.

This is according to web design service Wix.com, which found that a third of respondents also thought they would rather be their own boss.

One in 10 turn their hobby into a business

Half of all respondents aged between 25 and 34 had thought about turning their hobby into a business, while one in 10 had already done so.

The study follows a recent boom in self-employment in the UK. According to government figures released earlier this year, the number of people working for themselves grew to 4.6 million in 2015, from 3.8 million in 2008.

The growth has been largely driven by part-time self-employment, which expanded by 88 per cent between 2001 and 2008, while full-time self-employment grew by 26 per cent.

Many prefer not to work full-time

However, according to the government’s study, “many respondents” said that they would prefer not to work full-time, although younger, male workers are disproportionately dissatisfied with what the study sees as “under-employment”.

Meanwhile, Wix.com also looked at the types of hobby that are most likely to be turned into online businesses in 2017. They found that cooking, baking, and photography are the most popular choices overall, with men favouring sports and photography, and women turning to baking, sewing, and knitting.

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