9 Sept 2024
Today, we’re putting the spotlight on ride-hailing as a form of entrepreneurship.
Recent data shows that a significant number of private-hire drivers are earning upwards of £4,000 net per month*. Many of these drivers don’t just drive with Bolt, many use a variety of platforms to suit their driving style.
These are just some of the findings from a recent survey sent to Bolt Partners across the UK and here are some of the main takeaways which we’ve noticed.
More people are turning to ride-hailing as a viable path to being their own boss. In fact, a third of drivers surveyed (34%) already see themselves as entrepreneurs, while close to half (49%) aim to become business owners in the future. According to the Department for Transport, the number of private-hire drivers in the United Kingdom has grown by 8.2%.
For many drivers, flexibility in their daily lives is very important. Close to 60% of drivers say that being able to set their own hours was the most important factor as to why they choose to drive. This flexibility is at the heart of what it means to be an entrepreneur. And the general public agrees, with 63% citing flexible hours or location as a top benefit of entrepreneurship, according to a YouGov survey commissioned by Bolt.
In the mentioned YouGov survey, 35% of people feel that a lack of tools and resources can be a barrier to entrepreneurship. This is where Bolt steps in.
Our platform is designed to offer private-hire drivers with the technology and flexibility they need. Programmes like Bolt Link, which allows drivers to earn extra by registering other licensed private-hire drivers into their network, are also designed for more flexibility. One Bolt Partner named Raiz can attest to how programmes like Bolt Link benefit him as a business owner.
In addition to advocating for fair taxation, we’ve recently introduced initiatives like Bolt Boost, which includes holiday pay and journey fee (national living wage) supplements to give drivers more financial security. Earlier this year we launched a flexible pension scheme to help drivers save for their retirement as an independent contractor.
Bolt is keen to empower drivers in the United Kingdom as entrepreneurs. With the right tools, flexible earnings, and a clear path forward, drivers can truly be their own boss. That way you can do what matters most:
In the coming months we’ll be rolling out a series of initiatives which will help drivers pave their own place when it comes to becoming an entrepreneur. But as you can see, taking the wheel is a great place to start.
Ready to start driving yourself? Put your private hire licence to good use and start driving with us today.
