The Heart of Home Business Britain report, which is based on analysis by the Centre for Economic and Business Research (Cebr), incorporating primary research by YouGov, and commissioned by Vonage UK, says that there are over 2.75 million home businesses in the UK today – more than half (52 percent) of the UK’s total business population and a 23 percent increase over the past decade. These businesses are contributing an estimated £94bn gross value added (GVA)1 to the economy and the total annual revenue of home businesses is projected to be £212bn this year.
The report also says that while technology is enabling home business success by lowering the barriers for start-ups, it also notes that these businesses need more mentoring and support.
John Carter, Managing Director of DMSL, which recently partnered with Vonage to launch the company’s channel partner programme in the UK, says that the report reveals huge potential for local reseller businesses that are focused on supporting small and home-based businesses.
“The Heart of Home Business Britain report shows us that there is absolutely no shortage of opportunities for resellers who can offer the quick, simple and effective solutions and services that these small, home-based businesses will be looking for. Availability of high-speed broadband is spreading and while this is an opportunity in itself, the greater potential lies in taking the benefits of cloud-based communications, like those offered by Vonage, and other services to these businesses.”
According to Carter, most home-based firms will want the reassurance of knowing that their IT and communications supplier is local. “What this report shows is that there is a massive hidden opportunity for B2B resellers out there. Many of these home-based businesses will be very dependent on their IT and communications and when things go wrong, they will need to get problems sorted out straight away. They will want their trusted IT supplier to be close at hand."
“They may be used to thinking on their feet and learning new skills, but as they get busier, they will also need to call on more external help and expertise. Some will grow to the point where they need to move to dedicated business premises, at which stage they will need even more assistance. If locally-based resellers can provide the right kind of services and support, they will really benefit from the boom in entrepreneurial activity and home-based working.”