New hair businesses will create more than 1,700 new jobs, according to research
With a quarter of newly launched hair and beauty business owners planning to hire one or more employees, these new businesses are set to create more than 1,700 new beauty sector jobs in the coming months and years, according to research by The Accountancy Partnership.
According to the research, a quarter of pandemic-born hair and beauty treatment business owners plan to recruit one or more employees. Meanwhile, 71% of lockdown entrepreneurs plan to continually grow their revenue over the coming years, and 46% of new beauty business owners aspire for their business to become their sole source of income.
The record number of new businesses started in 2020 are set to create thousands of jobs in the coming years, with a quarter of hair and beauty business owners planning to hire one or more employees, the new research has found.
A quarter of hair and beauty business owners who started a business during the pandemic (around 1,770) said they will be hiring one or more employees as their business grows in the coming months and years, creating an influx of new employment opportunities.
ONS data shows that the UK’s small and medium-sized businesses created three times more jobs than businesses, with more than 250 employees in the years from 2013 to 2017, highlighting just how crucial SMEs are to the health of the country’s economy.
Lee Murphy, managing director of The Accountancy Partnership, said: “Small businesses truly are the foundations of the British economy and seeing so many businesses started during lockdown, often out of necessity, with long term growth and hiring plans is fantastic.
“Almost half (46%) of lockdown-preneurs have always wanted to start their own businesses and with so many passionate people behind these ventures I am optimistic that we will see some excellent businesses supporting the wider business economy in the coming years,” she said.
“The opportunities that pandemic-born businesses are set to create in the coming years will be crucial to Covid-recovery. The wave of new businesses in hair and beauty treatments is especially exciting as the industries has really suffered over the last year, and an influx of jobs will be welcome and needed as restrictions continue to ease,” she added.