Direct Line: Two million are turning their hobby into a business

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Direct Line: Two million are turning their hobby into a business

Two million people are trying to make money from their hobbies while holding down a day job, according to new research from insurance provider Direct Line.

Most full-time employees (53 per cent) dream of becoming their own boss.

But of those who have not yet done so, 25 per cent say they fear for funding and 16 per cent are worried about failing.

Kate Syred, head of Direct Line for business, said that while some people prefer the security of a monthly income, starting one's own business could, with dedication, turn a "favourite pastime into an income generator".

She urged would-be entrepreneurs to research their market and take out proper business insurance.

A new service launched in Oxford aims to help budding entrepreneurs start their own businesses.

The Oxford Mail reports how the Business Link Enterprise Gateway Service was established in May with a £125,000 grant from the South East England Development Agency.

Three people have now started their own businesses in the fields of flooring, property consultancy and catering.

Click here for more insurance news.

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