One in five ‘portfolio entrepreneurs’ generating £10,000 a month revenue, survey finds

ONE in four entrepreneurs in Britain are now running more than one small firm, new research shows. The cohort are being branded as “portfolio entrepreneurs” with a third of people starting their business for less than £500. One in four business chiefs now running more than one small firm Credit: d3sign Portfolio entrepreneurs three times as likely to generate £25,000 a month compared to those who have one firm, survey reveals Credit: Getty The new breed of business chiefs are more than twice as likely to generate more than £10,000 a month than single-business bosses, the study showed. They are three-times as likely to generate £25,000 a month compared to those who have just the sole business, research from GoDaddy shows. Sign up for the Money newsletter Thank you! The study also shows that two-fifths, some 44 per cent, aim to bring in new staff in the coming 12 months compared to just 19 per cent with one business. The findings come as business leaders have hit out at the Labour government over the high cost of doing business. Business chiefs have taken aim at national insurannce hikes, minimim wage increases and the extra red tape of new employment rights’ laws. The new figures comes from the GoDaddy Small Business Research Lab. It studies the economic impact of more than 600,000 digital small businesses in the UK. Leanna Grant, 43, from Birmingham, has more than ten years of experience as a portfolio entrepreneur. She said: “Technology has played a big part in making this possible. I’m only one person, so tools that save time make a huge difference. Most read in Money “AI helps me with marketing, social media, and brainstorming, especially when I need to break down ideas into something practical. “Used in the right way, it gives small business owners extra capacity without taking away the vision or personality behind the business. “The biggest advantage of being a portfolio entrepreneur is not being limited to one idea. I can test things, learn from what does and does not work, and keep building around the opportunities that feel right. “Not every venture will become the main focus, but each one has taught me valuable lessons.” Alexandra Rosen, from GoDaddy, said: “Portfolio entrepreneurship at this scale suggests the small business economy is evolving in its own way thanks to the help of technology. “As AI, digital tools, and infrastructure reduce the cost and complexity of starting and scaling a business, entrepreneurs, even low-tech ones, can test, adapt, market, and sell their ideas and passions faster and more easily. “For local economies, this has a measurable impact. “Our research with Frontier Economics has shown that an increase in digital microbusiness is linked to higher pay, more jobs and stronger local economic output. “Not every new venture will succeed, but that’s not necessarily the goal as a more active and resilient base of entrepreneurs can create economic growth for the whole community.” Comment now