Research and reports
With The Great British Bake Off returning to screens tomorrow, small business insurer Simply Business has revealed a surge in the number of home baking businesses across the UK in the last year.
Analysis of new insurance policies taken out between 2019 and 2020 shows home baking businesses are showing no signs of crumbling, with the number consistently rising year-on-year.
While an average of 9.2 million people tuned in to watch each episode of GBBO last year, the UK saw an 157% rise in the number of home baking businesses across the nation, as more Brits are turning their baking passions into a business.
|Trade||2019||YoY increase||2020||YoY increase|
|Home baking policies||1010||37%||2598||157%|
The fastest growing region in the last year was the South West, with a 222% increase between 2019 and 2020. The South West was closely followed by the Midlands (200%), East Anglia (166%), and South Central England (157%). Yet even the capital as the slowest-growing region, saw the number of home baking businesses almost double.
Alan Thomas, CEO at Simply Business, commented: "The Great British Bake Off is a mainstay of UK television and has already inspired thousands of bakers across the nation to rise up and start their own independent business. In every region we’re seeing a year-on-year increase in the number of home baking businesses who are turning their passion into a business. In fact, it has been the fastest-growing trade throughout the pandemic, building on a 157% rise between 2019 and 2020.
"Small businesses are vital to the recovery of the UK economy, so the fact that so many aspiring cake makers are making the leap is extremely encouraging. Business insurance is a must for businesses who want to protect themselves and their treasured customers. For all the new businesses out there, we want you to know that Simply Business has your back."
Notes to editors:
Data extracted September 2021 of Simply Business home baking policies from 2018-2020.
|Region||Policies||YoY increase||Policies||YoY increase|
|South West England||79||36%||254||222%|
|South Central England||90||23%||231||157%|
|North West England||142||31%||363||156%|
|North East England||158||88%||378||139%|
|South East England||84||9%||198||136%|
Launched in 2005, Simply Business provides an online brokerage service, delivering policies tailored to individual business requirements. Using the power of tech and data to create the best possible customer experiences, Simply Business employs over 800 people across offices in London, Northampton, and Boston in the US.
Owing to its internal underwriting capability, Simply Business can cover over 1,000 trade types – ranging from plumbers to accountants to dog walkers. An accredited B Corp for their positive social impact, Simply Business has also been voted the Sunday Times Best Company To Work For twice in a row.
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