More than one in ten British workers (12%) have left their previous job to become ‘funtrepenuers’, by pursuing a career they are passionate about.
Alasdair Cavalla, senior economist at CEBR said: “We were fascinated to find that a clear majority of microbusinesses were set up by people passionate about their sector or product. Many small, dynamic businesses may never have been set up were it not for people taking this risk to pursue work they care about.”
The trend may continue to rise, with many millennials planning on leaving their current jobs to pursue their interests. Nearly a quarter (24%) are of 18 to 34-year-old workers planning to change career, compared to just 2% of over-55s.
The research found that this increasing workforce of engaged, impassioned ‘funtrepreneurs’ have a positive effect on the economy.
Cavalla added: “The economic benefits don’t stop at the found of the business – compared to whole-economy averages; we found clear evidence of fewer sick days, higher productivity and greater job satisfaction among people following their passion.”
Want to learn more about setting up your own business? Benji Lanyado left his job as a journalist to create image library Picfair. He explains his struggles and triumphs here.