According to the latest research, millions of British workers are boosting their income through ‘side hustles’.<\/p>\n
The study of adults in full-time employment by Vistaprint found that almost a quarter of respondents had turned a hobby into a side business alongside their career, while a further 56 per cent of respondents aspire to do so.<\/p>\n
Those with a side business added on average around \u00a36,604.80 per year post-tax to their income, while 15 per cent of those with side businesses make \u00a312,000 annually.<\/p>\n
The most popular business sector for a side business is Beauty and wellness, which includes the likes of hairdressers, personal trainers and dieticians.<\/p>\n
Other popular areas were arts and entertainment such as artists, DJs and designers, and home improvement including self-employed decorators and gardeners.<\/p>\n
The main reason many people have or would like to start their own business is to generate extra cash. However, 36 per cent started a side business to pursue a passion and over one third did so to spend more time doing what they enjoy.<\/p>\n
It is believed that this supports previous findings that over half of Brits are unable to find a full-time job related to their interests.<\/p>\n
The study also found that almost two-thirds of entrepreneurs treat their enterprise as a \u20185-9\u2019 and work on it in the evenings to fit around their career.<\/p>\n
A further one third of respondents work on their side business at the weekends, and one quarter do so in the morning before work.<\/p>\n
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. A third of respondents hope it will grow into a full-time business.<\/p>\n
Simon Braier, Customer Strategy and Insights Director from Vistaprint, who commissioned the research, said: \u201cBritain\u2019s side business economy is booming, as employees increasingly look for financial, professional and personal fulfilment that may not be present in their main job.<\/p>\n
\u201cWhile many side hustles are born out of a personal interest or hobby, they don\u2019t have to stay small.<\/p>\n
\u201cSide business owners can test their venture\u2019s 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.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
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