A report, produced by the Hair and Barber Council in partnership with Babtac, has demonstrated the value of the hair and beauty sector to the UK economy.
The Economic Impact Assessment Report of the Hair and Beauty Sector on the UK Economy, launched at the Houses of Parliament last month, revealed the total gross value generated by the UK hair and beauty sector in 2017 was between £5.6 billion and £6.6 billion. The gross value added per worker in the UK was estimated to be £19,398.
By showing Government how much the hair and beauty industry brings to the economy the report aims to prove the need for mandatory regulation and licencing to ensure high standards and adequate protection for consumers.
The associations said this is the first report to use PAYE data rather than estimating figures based solely on surveys. It revealed the sector comprises more than 49,371 businesses employing almost 337,000 people.
Babtac chair Lesley Blair says: ‘Lack of regulation in the industry has meant establishing the value of this sector has been very difficult. Expert research teams from Cardiff University have now been able to identify that the industry contributes £6.6 billion, which is incredible. I am confident that now influencers are aware of the significant contribution our industry is making, they will listen to our requirements for a self-regulation framework.’
The associations both call for the hair and beauty sector to be rightly recognised as a creative industry by the UK Government and given the associated support needed to continue to thrive.
https://www.babtac.com/news/2019/05/172-economic-impact-assessment-report-update
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