Could you run a business better than your boss?

A study of 2,000 employed adults found there is a growing trend for ‘side hustles’ with 65 per cent aiming to make their side line their main career his year.

More than a quarter already have a secondary venture and spend an average of four hours a day working on it. 

It was revealed four in five want to start their own business, with more than half aspiring to be their own boss. And 24 per cent went as far as to say they want to set up alone as they think they could do a better job than their current manager.

Helen Whetton, director of Soho and SME at Three, which commissioned the research to launch Three Means Business, said: “As our research shows, the way we work and find job satisfaction is changing.

“It’s no longer about a 9-til-5, or same job for life. The ‘side-hustle’ trend is growing each year, and there’s never been a better time to take the leap of faith and start your own business.”

The study also found 55 per cent already know what their new venture will be, but the prospect of setting up alone still comes with some reservations.

The biggest barriers included a fear of failure (42 per cent) and limited knowledge (42 per cent). But having the right skills and tools (47 per cent), determination (47 per cent) and confidence (42 per cent) are traits which will help business owners-to-be.

Inspiration comes in all shapes and places, with the bedroom named the best location for a lightbulb money – a third claimed their news business idea came to them in bed. Other locations which proved to be an unlikely source for brainwaves were the toilet (15 per cent) and on a date (10 per cent).

Famous faces also provide creative inspiration, with Richard Branson voted the number one role model for business owners, followed by Bill Gates and Sir Alan Sugar.

Helen added: “At Three we are committed to making that leap as pain-free as possible, which is why we created Three Means Business. We want to make 2020 the ‘Year of the Boss’ – inspiring more people to make that ‘side-hustle’ a full-time reality. With our partnerships and subscriptions, we give entrepreneurs a helping hand with some of the new business hurdles, to allow them to concentrate on building the business they love.”

Three Means Business is aimed at the UK’s growing number of entrepreneurs and small businesses. The offering, in partnership with WeWork, Wix, MOO and FreshBooks, includes one of the cheapest mobile contracts in the market, alongside discounts and free subscriptions to useful services. For more information visit www.three.co.uk/business-tools

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