Is handicraft business profitable? Yes. Do handicraft business profits compare with other businesses that employ the same type of workers? Yes.
Do handicraft business profits compare with other businesses that employ the same type of workers? Yes. Who does that profitable trade represent? The handicraft trade in the UK consists of craft trades, from needlework, weaving, embroidery and needlecrafts with an increased emphasis on sewing and knitting. However it is important to distinguish the different types of jobs that comprise the handicraft business from other trades in which the same type of people work.
The most common employment of the average person involved in these trade is in some form of service (sailing and horse-shoeing). Others may be:
A plasterers’ in the car industry
A stitcher who makes items for an office
A shoemaker who makes a specific type of shoe or product
A leather or silk worker or a jeweler
A crafts labourer who makes items for domestic use
A labourer who makes things which are sold on the market
So what do we want to do?
The study we are discussing in this article aims to look at the profitability of the handicraft trades by looking at the relative importance of different jobs within the labour market in comparison to other trades.
In the first stage we’ll look at the number of jobs, and how much of an actual wage people are paid per each of these jobs. In fact, the number of jobs being paid for varies from industry to industry and even over time.
The second stage we’ll look at what this extra income represents – whether it is earned by the workers themselves, by their bosses, whether they receive a fixed cash bonus, whether employers pay bonuses, or whether the money represents part of their income.
The third stage we’ll look at which jobs earn money and how much they are worth. And finally we’ll look at who is most likely to get the money on this extra income.
The purpose of this article is to look at some simple figures to see how our calculations are able to show how profitable the occupations in the handicraft trade are in the UK.
How many jobs does handicraft trade represent?
As we’ve said, each type of business has its own different requirements and this can have a significant bearing on any possible comparisons. So is the handicraft trade profitable?
In the UK it is clear
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