The UK’s economy grew substantially in the 20th century thanks to professionals. However, there’s now a new generation taking over, helping to shape and boost the economy.
Professional amateurs, dubbed Pro-Am’s, are taking advantage of modern markets, creating an entirely new small-scale business sector. Here, we’ll look at how this new middle group is rising in popularity and the impact they’re having on society.
The rise in part-time self-employment
It’s recently been revealed that there are 320,000 people who have a second, self-employed job. These amateur professionals are seeing the opportunities of self-employment, without the same level of risks as going full-time. Working the side hustle gives these amateurs time to build up their business, while reaping in the financial stability of their employment.
What this means, is that the economy is benefiting not just from having record numbers in employment, but from the additional services provided on a self-employed part-time basis. Depending upon how much professional amateurs earn with their side business, this could produce great tax benefits for the economy too.
People are realising that they can work towards a better lifestyle to suit them and their families without being permanently stuck working for someone else.
Technology and tools make it easier to set up small scale businesses
One of the main reasons we’re seeing a rise in Pro-Am’s, is because of improvements within technology and tools.
The internet has made it easier for professional amateurs to set up an online business, requiring very little capital and exposing them to millions of potential customers. Meanwhile, the availability of advanced yet affordable industry tools has helped trades people to get a real head start in the business, offering the same level of professionalism as a full-time tradesperson. Builders merchants are now commonly used not just by established businesses, but by individuals too.
What impact are professional amateurs having?
So, how are professional amateurs impacting society and the economy? Well, socially they are helping to build social capital. They often need to partner with other Pro-Am’s, allowing for networking and relationship building within the local community. As professional amateurs are also just starting out with self-employment, they tend to offer more affordable services, which in turn benefits local consumers.
Economy wise, professional amateurs really shine through. They are helping to generate additional taxes and aiding in innovation. People who would otherwise be tied up in full-time employment, are now able to branch out with their own ideas and innovations.
The rise in professional amateurs is showing no signs of slowing down. This new breed of worker is helping to drive the UK economy, while also helping more people to achieve a better work-life balance.