Some 56 per cent say they would consider starting a new business related to their hobbies (such as sports, crafts, or travel), with 53 per cent reporting that the recession has made them re-think their work/life balance, according to a survey from web hosting site Streamline.net.

Steve Holford, marketing director at Streamline.net, says: ‘Britain’s small business owners have weathered challenging times, however, the data suggests that the entrepreneurial spirit is very much alive.

More owners are keen to start out in a totally new direction and creating a hobby-based business is a common ambition.’

Of the 1,441 SMEs surveyed, 48 per cent say earning money from their pastimes would be the ideal business scenario. A further 46 per cent say they would not leave their existing enterprise until turning it into a success.

See also: How to turn your hobby into a new career – While some may decide to become ‘hobbypreneurs’ due to personal circumstances, such as a redundancy or career break, others may simply find the freedom and flexibility afforded by being their own boss to be a hugely attractive proposition.