More people will become creators

At the start of 2021 there were 5.5 million small businesses (with 0 to 49 employees) making up 99.2% of the total number of businesses in the UK. If you were to look at a graph of businesses by number of employees you’d see a power law distribution with a long tail of all those small businesses. Over the coming years, the creator economy will extend that tail much much farther.

As people look to diversify income, prompted by uncertainty in the labour market, and inspired by social media, or to justify their hobbies, or demonstrate their potential to employers, we’ll see the number of creators increase dramatically. The creator economy, ranging form influencers on YouTube and TikTok to solopreneur using no-code tools to build software products, has a current market size of around $104.2 Billion. If that isn’t sufficient for it to be taken seriously, then perhaps we can say that the creator economy will have jumped the curve when a one-person business disrupts an industry in the way we’ve become accustomed to startups doing.

Why does it matter? The trends that start with the creator economy will affect how large companies do business, how workers approach employment, and how people engage with brands. There’s a lot more to it than some guy riding around on a broomstick.