A side hustle is a piece of work or a job that an individual can get paid for in addition to their main job.
From driving for a ride sharing company to tutoring online, copywriting, and more, a side hustle could be any commercially viable endeavour.
The practice became as popular as ever in the UK during the Covid-19 pandemic, which saw 11.7 million employee jobs furloughed.
Published in June 2022, an Aviva study found that 19% of adults in the country had started a side hustle since March 2020, with 16% claiming to have earned upwards of £1,000 a month from their new venture. Almost two-thirds (61%) claimed their side hustle had been because of Covid-19, while 30% said it had been out of necessity to make ends meet. But 39% said it was a way to turn a hobby into an income.
Meanwhile, out of those who had started a side job, 63% are still active today – the equivalent of 6.49 million Brits – out of 29.7m payrolled employees.
But how do you turn that hobby-turned-income into a fully fledged job and business idea? How do you take that next step?
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The views expressed in this article are the personal views of the Author and other professionals may express different views. They may not be the views of Lambert Chapman LLP. The material in the article cannot and should not be considered as exhaustive. Professional advice should be sought in connection with any of the issues contained in the article and the implementation of any actions.