Rise of the £7bn “mum-economy”

UK mumpreneurs supported over 200,000 jobs in 2014 with number of mum-run businesses up 23% on 2011

Mumpreneurs generated £7.2bn for the UK economy last year and supported over 204,000 jobs, research undertaken by Development Economics and eBay has found.

Said to reflect how mum-run businesses are an “increasingly powerful economic group”, the findings show that the number of British businesses founded by mothers has increased by 23% on 2011 and added 30% value to the economy from 2011 to 2014.

By 2025, the study claims that increased opportunity and flexibility for mums in business will take the annual “mum-economy” to £9.5bn and will create an additional 13,000 jobs – taking the total employed by mumpreneurs to approximately 216,700.

The most successful industries for mumpreneurs were found to be health and care services, contributing £1.4bn to the economy, professional and technical services (£1.1bn), arts and entertainment (£900m), and retail (£650m).

Sarah Calcott, eBay UK COO, commented:”Improved connectivity and growing digital literacy is enabling ambitious, business-minded mums to realise and pursue successful enterprises.

“These entrepreneurial businesswomen are building impressive companies, creating both wealth and jobs whilst also fulfilling one of the most demanding roles of all – being a mum.”

Comments

(will not be published)