- New data published by small business insurer Simply Business revealed a 157% rise in home baking policies from 2019 to 2020
- The largest rise was in the South West, which saw a 222% increase in home baking policies taken out
- The number of home baking policies also rose significantly in the Midlands (200%), East Anglia (166%) and South Central England (157%)
London– With The Great British Bake Off returning to screens tomorrow, small business insurer Simply Business has revealed a surge in the number of home baking businesses across the UK in the last year.
Analysis of new insurance policies taken out between 2019 and 2020 shows home baking businesses are showing no signs of crumbling, with the number consistently rising year-on-year.
While an average of 9.2 million people tuned in to watch each episode of GBBO last year, the UK saw an 157% rise in the number of home baking businesses across the nation, as more Brits are turning their baking passions into a business.
| 2019 | YoY increase | 2020 | YoY increase | |
| Home baking policies |
1010 |
37% | Don't miss out on any breaking news or insightful opinions! By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. 2598 |
157% |
The fastest growing region in the last year was the South West, with a 222% increase between 2019 and 2020. The South West was closely followed by the Midlands (200%), East Anglia (166%), and South Central England (157%). Yet even the capital as the slowest-growing region, saw the number of home baking businesses almost double.
Alan Thomas, CEO at Simply Business, commented:
“The Great British Bake Off is a mainstay of UK television and has already inspired thousands of bakers across the nation to rise up and start their own independent business. In every region we’re seeing a year-on-year increase in the number of home baking businesses who are turning their passion into a business. In fact, it has been the fastest-growing trade throughout the pandemic, building on a 157% rise between 2019 and 2020.
“Small businesses are vital to the recovery of the UK economy, so the fact that so many aspiring cake makers are making the leap is extremely encouraging. Business insurance is a must for businesses who want to protect themselves and their treasured customers. For all the new businesses out there, we want you to know that Simply Business has your back.”
