Nearly a quarter of all entrepreneurs create their start up business while still in employment, according to new research.
A survey that included 500 small business owners found that 21 per cent of start-ups launched in the last 12 months begin while its owner is still working at another job.
Working a second job is currently very common in the UK. Statistics from HMRC show that 1.2m people have official second jobs, up from 1.05m in 2007. Nearly 500,000 of these people are self-employed second jobbers running their own business on the side. This is an increase of 40 per cent compared to 2006.
The study revealed that men aged between 25 and 34 years old are the most common double job entrepreneurs.
The digital services sector is the most common area where ‘second jobbers’ launch their business. PR and Marketing, Design and Human Resources are also areas where double job entrepreneurs venture into.
The survey was created by alldayPA, a company that has provided call answering services to SME owners and entrepreneurs since 2009.
‘‘Ambitious entrepreneurs have been quick to embrace technology and services such as ours to help manage the transition from employment to running their own business,’’ explained Reuben Singh, chief executive officer at alldayPA.
“This is a trend the government should be reacting to by cutting red tape for second job start-ups and simplifying the tax structure to help balance PAYE with self-employment and dividend payments,’’ continued Singh.