SMEs profit from ‘staycation’ trend

Home businesses have seen turnover climb due to an increase in people holidaying at home.

Some 70 per cent of businesses reported an increase in revenue due to the ‘staycation’ trend, with the majority (57.1 per cent) also seeing an increase in profits, according to a survey by Enterprise Nation and Business Link.

Karen Thorne, owner of Hopton House B&B, says: ‘We are definitely benefiting from more people who are forsaking cheap flights to European destinations and instead touring the UK.’

Patrick Elliott, chief executive of Business Link in London, says: ‘Home businesses are leading the way in these harsh economic times by showing resilience and reacting quickly to changing markets. Their ability to spot trends and capitalise on new opportunities is a healthy sign of their entrepreneurial spirit.’

Of the 230 home businesses surveyed, more than half expect to see an increase in turnover during the next three years as the holidaying at home trend continues.

According to a poll by YouGov, more than half of people (54 per cent) plan to take their main holiday in the UK next summer.

See also: 13 tips on running a B&B

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