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?We find some of the most successful business ideas are borne out of people?s passions. So many of us have activities we pursue as a side line to our careers, but nowadays, with the right level of support and encouragement, these hobbies can be transformed into profitable businesses.? Around 74 per cent of respondents believe they could achieve higher job satisfaction and be more motivated running a business inspired by their hobby. Of those that have actually launched a hobby-based business, 86 per cent reported higher levels of job satisfaction. Occasional earners should take note that, in 2016, it was announced micro businesses would be allowed to earn up to ?1,000 a year tax-free. This was dropped in May this year, but is set to be re-introduced at some point. Hobby entrepreneurs in action Jenk Oz founded his company iCoolKid off the back of his hobbies. His site carries reviews of pop culture, events, science and tech, all aimed at children. Oz set up his company three years ago, and now at 11 years old he is Britain?s youngest CEO. You can read more about Oz?s business and how he juggles a business with school work here: http://businessadvice.co.uk/on-the-up/meet-britains-youngest-ceo-11-year-old-jenk-oz/
This article is part of a wider campaign called the Scale-up Hub, a section of Real Business that provides essential advice and inspiration on taking your business to the next level. It?s produced in association with webexpenses and webonboarding, a fast-growing global organisation that provides cloud-based software services that automate expenses management and streamline the employee onboarding process.
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