Quarter of ridehail drivers turning over more than £4,000 a month as Bolt promotes entrepreneurial growth
A recent survey from ridehail operator Bolt has revealed that nearly a quarter (24%) of private hire drivers are binging in more than £4,000 per month in revenue through ride-hailing apps. The data also shows that 88% of drivers operate across multiple platforms like Uber, FREENOW and Veezu to maximise their earnings.
Bolt has now launched its 'Be Your Own Boss' campaign to highlight the entrepreneurial opportunities in the ride-hailing sector. With over a third (34%) of drivers identifying themselves as entrepreneurs, and nearly half (49%) aspiring to become business owners, ride-hailing is being viewed as a stepping stone to independence.
The appeal of flexibility is driving more people towards private hire roles, with Department for Transport figures showing an 8.2% increase in drivers over the past year. According to Bolt’s findings, 60% of drivers cite the ability to set their own hours as the most crucial factor in their decision to enter the industry.
A YouGov survey commissioned by Bolt suggests that flexibility is a major draw for entrepreneurs in general. Over 60% of the public believe control over work hours and location is a key benefit of being self-employed. Financial independence and the potential for uncapped earnings are also major incentives.
However, 35% of the public feel that a lack of tools or resources, such as technology, limits entrepreneurial opportunities. Despite this, more than a quarter (28%) agree that platforms like Bolt are making entrepreneurship more accessible.
Bolt continues to offer tools such as dynamic pricing, where fares respond to market conditions, and custom driver pricing, enabling drivers to set their own minimum fees. The company has also introduced ‘Bolt Boost’, which includes Holiday Pay and additional journey fees to increase driver earnings. Bolt’s ‘Link’ feature also allow drivers to register other licensed drivers under their account, providing the opportunity to generate additional income.
Emily Dalton, Head of UK Operations at Bolt, said: “Private hire driving is one of the easiest ways to become your own boss. Ride-hailing platforms enable drivers to connect with a ready-made customer base and start earning from day one. This has encouraged more people than ever to tap into the growing ride-hailing market, and make the most of the uncapped earning potential and flexibility that independent contracting offers them.”
