Hair and Beauty Sector Contributes £6.6 Billion to the UK Economy Concludes New Report

 
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An Economic Impact Assessment Report, commissioned by the Hair & Barber Council in conjunction with BABTAC (British Association of Beauty Therapy and Cosmetology), has been conducted to establish the financial value of the UK hair and beauty sector for the first time.

The much-anticipated report identified that the hair and beauty industry contributes £6.6 billion to the UK economy, which equates to at least 8% of the total value generated by the retail sector.

Launched in the Palace of Westminster on the 22nd of May to an audience of politicians and industry professionals, it is hoped that the definitive value that can now be placed on the industry will encourage support from the UK Government. The findings will also add further momentum to the campaign for self-regulation and support the requirement to amend the currently voluntary Act of Parliament to mandatory and include beauty too.

Lesley Blair, chair of BABTAC said, “Lack of regulation in the industry has meant that establishing the value of this sector has been very difficult in the past but is a key figure that the UK Government has been keen to establish for years. Expert research teams from Cardiff University have now been able to identify the industry’s worth and a contribution of £6.6 billion is incredible. I am confident that once influencers are aware of the significant contribution that our industry is making, they will sit up and take us seriously and listen to our requirements for a self-regulation framework.”

Keith Conniford, CEO and Registrar of The Hair & Barber Council said, “Hair and beauty salons are the heartbeat of the UKs high streets, with barbershops growing significantly year on year. This report shows unequivocally the enormous value, and great career choices associated with the industry, and further strengthens the need and desire from the public and industry, to finally have the sector recognised as the professionals they are.”

Politicians present at the Palace of Westminster include Bill Esterson (Labour MP and shadow business and international trade minister), Nick Thomas-Symonds (shadow security minister and shadow solicitor-general) and Nick Smith (Labour MP for Blaenau Gwent).

Conducted for the whole of the UK and by each devolved nation individually, the peer-reviewed economic report collated information from 49,000 businesses employing 337,000 people.