Millions of Brits have a โside hustleโ job to pursue their passions – and make a few quid on the side, according to research.
A study of 2,000 adults in full-time employment found one in four are working ‘5 to 9’ on the side… after arriving home from their ‘9 to 5’.
It also emerged those with a side-hustle top up their income with an average of ยฃ6,604.80-a-year after tax, while 15 per cent of evening entrepreneurs make ยฃ12,000 annually.
The research was commissioned by Vistaprint – an online provider of marketing products and services to small businesses.
Which side hustle outside of work is the most popular?
Beauty and wellness were found to be the most popular sectors to cash in on, along with hairdressers, personal trainers and dieticians.
Arts and entertainment such as artists, DJs and designers and home improvement, including self-employed decorators and gardeners, also made the list.
Generating extra cash was found to be the top reason Brits either have, or would like to have, a business on the side.
But one in three started a part-time venture to pursue a passion, and more than one third did so to spend more time doing what they enjoy.
A side hustle to answer one’s true calling
A desire and drive to follow oneโs true calling is further supported by the finding that over half (56 per cent) cannot find a full-time job related to their interests.
Simon Braier, customer strategy and insights director from Vistaprint, said: โBritainโs side business economy is booming, as employees increasingly look for financial, professional and personal fulfilment that may not be present in their main job.
โWhile many side hustles are born out of a personal interest or hobby, they donโt have to stay small.
โSide business owners can test their ventureโs long-term viability, growth and marketing opportunities in a safer setting, helping them to ease the transition into full-time entrepreneurship and spend more time doing what they love.โ
The study also found that almost two thirds of entrepreneurs (65 per cent) treat their enterprise as a โ5 to 9โ and work on it in the evenings in order to fit around their career.
A further one third (36 per cent) also work on their side job at the weekends, while one quarter (24 per cent) do so during the morning.
A typical side business takes up 13 hours a week, while 17 per cent of those polled spend 20+ hours-a-week working on it.
The study, by OnePoll, also found that one third (32 per cent) of side business owners hope to grow their venture in the future.
But they would need an average of ยฃ2,711-a-month post-tax to consider turning a side project into a full-time job – a figure well above the average side hustle earnings.
Vistaprintโs UK market lead Charlotte Holmes-Darby said: โTo grow your side business, you need to think and act like a full-time entrepreneur.
โThat also means you should be prepared to seize any opportunities that come your way and enable you to take your side hustle to the next level.โ
