Entrepreneurship in 2025: Could this be the year for a self-employment revival?

Published 19 Dec 20245 min read

Across Europe, self-employment has remained fairly stagnant for the last 25 years. In 2024, the UK reported 4.3 million self-employed workers—down from five million in early 2020. In 2023, there were an estimated 30 million self-employed workers in the EU—a number that has not increased since the start of the 21st century, and actually fell between 2010 and 2022.

However, new data from Intuit’s ‘Entrepreneurship in 2025’ survey of 3,000 consumers and business owners in the UK suggests a potential surge in entrepreneurial spirit, which could reshape the self-employed landscape. More than half (52%) of survey respondents say they’re considering launching a new business in the coming year. Of these, 40% say that business will be a side-hustle—they’ll continue working for another employer while following their entrepreneurial dreams.

For many, these businesses will serve as a means to build personal wealth. A combined 38% of respondents say they’ll turn to business ownership or side-hustles to increase their take-home pay in 2025, above getting a promotion at work or buying a home.

The data suggests these numbers may be even higher if not for a few roadblocks holding back hopeful entrepreneurs. More than four in ten respondents (43%) say they would consider starting a business if they had more money. Another 40% say they would if they had more confidence in their business ideas.

But there is good news for these aspiring business owners: starting a business may cost less than you think. Survey insights reveal that the median cost to start a business in the UK is just £3,000. One in ten business owners surveyed say they started with £0.

Aspiring business owners turn to solopreneurship and side-hustles

Today’s entrepreneurs are redefining what it means to own a business or be self-employed. For those who already own businesses, or have in the past, nearly half say they work alone—with no employees.

Another 45% say they would describe their business as a side hustle. These business owners say they find self-employment more fulfilling than their day job, that self-employment pushes them further than just being an employee, and they’re driven by their self-determination. Above all, these entrepreneurs love working for themselves and being their own boss.

Why, then, do so many of these self-employed workers continue working for other employers? For nearly seven in ten respondents (68%), the stability of a regular income is too good to pass up. Other perks, like workplace benefits and the security of a retirement plan, rank high on the list. For them, running a business as a side-hustle gives them the freedom and stability to pursue their business dreams without huge financial risk. Later, if they choose, they can transition their side-hustle into a primary job.

That’s not to say that UK business owners don’t have big plans for growth and expansion in the new year—survey insights indicate they have plenty of ambition for 2025. For nearly half (44%) of current business owners, increasing revenue is their primary goal.

To accomplish this, more than half (54%) say they plan to expand their team by hiring full or part-time employees or contract employees within the next 12 months. For some, this may include an accountant or bookkeeper—18% say they plan to hire a financial pro to handle their books.

Another 44% say they’ll expand their e-commerce efforts while others plan to apply for growth financing or invest in physical properties for their business.

These business owners know that a digital approach may be the ticket to success. The majority agree that digital avenues, like social media and e-commerce, hold the most power for business growth. Another one in four say they plan to adopt new technologies and use AI-powered tools to fuel their business growth in 2025.

Tomorrow’s entrepreneurs are financially-minded and goal-oriented

Survey insights reveal that our future entrepreneurial economy- growers are thrifty and filled with ambition. More than eight in ten respondents (82%) say they intend to make positive changes in their lives next year—only 9% say they’re not planning to make changes or set any personal or professional goals.

Six in ten (61%) say they’re satisfied with their lives, but that number jumps to 70% for business owners—indicating that business ownership may be key to a more satisfying life. Across the board, nearly six in ten respondents (57%) say earning more money would increase their satisfaction—they need to earn an average of £68,000 in 2025 to feel successful.

They’re in luck—survey insights reveal that financial resolutions are the most likely to stick among UK respondents. The majority (62%) say they’re most likely to keep New Year’s resolutions that are financial in nature, like keeping a budget or saving for the future, and less likely to keep resolutions like giving up fast food or going to the gym.

Looking ahead

As we look ahead to 2025, a self-employment revival in the UK seems ever more likely, driven by a wave of emerging entrepreneurs who are ready to redefine what it means to be self-employed. Our survey results indicate a strong entrepreneurial spirit among UK consumers, with a significant number considering or actively planning to start their own businesses. The appeal of being your own boss, coupled with actionable plans for financial growth, points to a trend towards embracing side hustles and full-blown business ventures alike.

Many prospective business owners see self-employment as a pathway to personal wealth and greater life satisfaction. With median startup costs being relatively low, and an increased focus on e-commerce, getting started might be easier than ever. This accessible environment could be just what's needed to re-energize self-employment in the UK.

Sample and methodology

In November 2024, Intuit QuickBooks commissioned an online survey of 3,000 UK consumers aged 18+. The survey focused on consumer and entrepreneurship trends and predictions for 2025 among three cohorts of respondents who identified themselves as business owners (n=410), former business owners (n=473), and consumers who have never owned a business of any kind (n=2,117). Percentages have been rounded to the nearest decimal place, so values shown in data report charts and graphics may not add up to 100%. Responses were collected using Pollfish audience pools and partner networks with double opt-ins, random device engagement sampling, and post-stratification based on census data to ensure accurate targeting and results. Respondents received remuneration.