Starting a side hustle is a great way to explore entrepreneurship cautiously and securely – or it could simply be a great way to earn extra income every month.
It’s estimated that Brits generate £72 billion from side hustles. Plus, a recent study by Enterprise Nation found that 35% of people in the UK are thinking about starting a business. While there’s popularity amongst all age groups surveyed, it is highest amongst young people aged 25 to 30, with 69% of respondents saying they would start a side hustle this year.
Added income is a natural motivator but another driving factor is channeling passions that full-time employment can’t support.
“I interviewed a lot of side hustlers,” says Emma Jones, founder of Enterprise Nation and the author of Working 5 to 9: How to start a successful business in your spare time. “The majority of them said the reason they do it is because they saw their side hustle as a way of having a creative outlet for their talent. It also made them perform better in their day job because they were a happier person.”
What Side Hustle Is Right For Me?
So, you’ve decided you want to start a small business. But what type of business is right for you? And how do you get started? This guide will help you determine get started.
Content Creation
The digital age has fueled a variety of content mediums ideal for side hustles. This includes podcasts, blogging, newsletters, video and social media, which can be done anywhere there’s wifi. Content creation is among the most flexible side hustles, especially for digital nomads or those looking for more creative outlets to supplement their 9-to-5.
How To Get Started: Content creation is a saturated market, so the best way to start is to find an anchor that sets you apart. What makes you unique? What do you have to say that’s fresh? How can your expertise and professional skills complement this?
From there, figure out the best platform to publish your work and pay careful attention to their monetisation regulations to avoid being shortchanged. If you want to pursue content management for another person or business, do your due diligence in understanding their voice and style. Taking an up-to-date course or two might be beneficial if you’re not already credentialed in marketing and communications.
Delivery and Ride-Sharing Services
Starting a side hustle as a delivery or ride-sharing professional is among the most convenient ways to create an added stream of income. It allows you to work around your schedule and pick up shifts on an as-able basis. A driver’s license is essential, but you do not need to own your own vehicle. Certain companies, like Uber, are now classifying drivers as employees rather than independent contractors, allowing for more benefits and protections.
How To Get Started: Research the gamut of driving services—companies like Uber, Deliveroo, Bolt and beyond—to assess which suits your needs most and offers the best policies for its employees or contractors. From there, the application process is pretty simple via the platform’s website. Some rideshare companies, like Uber, will also require you to obtain a private-hire licence, though they have now streamlined that process for you.
Ecommerce
This is one of the best routes if you’re looking to flex your creative muscles and make additional money from doing so. Platforms like Etsy allow people to create their own online marketplaces and sell a variety of items, from art to clothing. The most profitable product to sell on the platform in 2023 was jewellery.
However, if you aren’t interested in creating your own wares, dropshipping is a ecommerce side hustle that has gotten increasingly popular.
How To Get Started: First, you will need to determine what to sell. Then decide which is the best third-party platform for sales. Or, perhaps, your preference is to develop your own website for sales, which might require more up-front costs and ongoing maintenance. Another consideration is production: will you make your products at home or seek an external manufacturer? If you are looking to get into dropshipping, you can read our full guide.
Tutoring, Consulting or Business Coaching
Tutoring is a great option for university students, early career professionals and active teachers looking to make additional income by teaching academic coursework that interests them. Similarly, consulting and business coaching are ideal for professionals looking to tap into their qualifications and unique professional skills to help advise people and brands.
Particularly if you are interested in turning your side-business into a long-term business, consulting and coaching hold a lot of potential for growing clients into larger contracts.
How To Get Started: Side hustlers looking to get into this space often pursue an LLC in hopes of being a credible stand-out to potential clients. It’s among the more scalable side hustles and will likely always be in demand: Over the past decade, the number of students receiving private tutoring in the UK has increased by nearly 20%.
Personal training
A personal training side hustle can be lucrative and flexible. The trick is to find a physical location with reasonable rates for the rented space you’ll be using. That’s unless you can hold classes from your home or meet clients at theirs.
How To Get Started: It’s likely prospective clients will ask for formal credentials, so it’s beneficial to apply for certificates in gym instruction and personal training courses. Don’t forget to also look into insurance policies to avoid any liability issues. Starting a successful personal training gig will also likely require experience with marketing and social media—people like to see demonstrated results and testimonies in the form of photos and videos.
Cooking and Homemade Goods
Monetising creations from the kitchen is among the most popular UK side hustles and for good reason. It can be both creatively stimulating and very lucrative, especially with high client retention from big event catering gigs like birthdays and weddings. This side hustle will require culinary skill as well as quality customer service and strong interpersonal skills.
How To Get Started: Once you’ve carved out your specific product offerings, a crucial next step is developing a sustainable production model to ensure you’re able to keep up with incoming orders, especially before scaling. If you’re running your food business from home and don’t own your building, you should consider getting permission from your mortgage provider or landlord. And be sure to confirm you’re adhering to food safety regulations—even at-home businesses need to comply with these laws.
Online Study Participant
This is a great low-lift option for quick cash. The upside is that you can do it from home in as little as under an hour. The downside is that these are usually on-occasion, geared toward specific demographics, and the pay fluctuates (the average range is £40 to £100 per study).
How To Get Started: Scour the internet for ongoing opportunities (beware of scams and anything that requires you to pay money to enter). Online paid studies and focus groups often require you to take a pre-survey to determine eligibility before being accepted as a participant.
Pet Walking & Sitting
Pet walking is a suitable gig for those who like to stay active and outside, as well as for people who love animals but may not have the means to have their own. Pet sitting is the more extensive option, especially overnight—consider whether you’ll be tending to the animals in your home or at the owner’s place. This is ideal if you’re working a remote full-time job that you can still maintain while the pets are in your care.
How To Get Started: With pet walking and sitting, you can often set your own prices, so do your research to see what the average costs are for the service in your area. Consider whether you’ll sign up for an animal sitting service like Rover or start your side hustle independently. Often working on a platform like Rover is a good way of obtaining more long-term clients of your own.
What to Consider Before Starting a Side Hustle
Before starting a side hustle, decide on your number one priority. Is it added income? Is it for a new creative outlet? Is it to hone your current professional skills further? Is it intended to one day turn into your full-time gig? That will determine what kind of side hustle is best for you.
It’s also important to predetermine how much of your life you’re willing to dedicate to the endeavour.
“This might be why younger people are more interested in side hustles, as they don’t have as much commitment to family life,” says Naeema Pasha, an author and visiting fellow at Henley Business School.
That’s not to say starting a side hustle with a family or later in life isn’t feasible. Case in point: Studies show women are more likely to tap into the creative part of their brain after motherhood, making it an ideal stage to start a business. The pre or active retirement stage is also a popular time period.
Here’s some of the top considerations before embarking on a new side gig:
Time Commitment: Ensure you’re able to dedicate a sufficient amount of hours to the side hustle without compromising your required full-time work or your mental health.
Financial Investment: If launching your side business requires upfront costs, consider your financial situation and the best funding options.
Personal Passions: Is there a personal interest, skill or hobby that your full-time gig doesn’t cater to? Your side hustle may be the solution.
Full-Time Job Flexibility: Check the fine print of your current contracts to ensure your full-time employment doesn’t preclude you from working a side business.
Required Skills: Does your side hustle require you to pursue new training or receive additional credentials? If so, that might require additional financial investment.
Networking: It’s helpful to connect with people already thriving in your desired side hustle field. Do your research on relevant workshops, events, and digital communities that put you in the right spaces.
How We Chose The Best Side Hustles
When Jones interviewed people looking to start side hustles for her book, she discovered that only about 10% intended to leave their day job to pursue their side gig full time. Thus, it’s important to choose a side hustle that complements your 9-to-5 schedule well. If your full-time job is during the week, can you work on your side hustle over the weekend?
The best side hustle for you is also dependent on your career goals. If you want to build on your existing skill set, choose a side hustle that’s adjacent to your full-time field. That said, a side hustle can also contrast your career. “I know a person who worked in financial services and had a side hustle in antiques,” says Pasha.
Above all, it’s essential to choose a side hustle you’ll genuinely enjoy doing. “Will you find it fulfilling and enjoyable enough to sustain it?” asks Pasha. “I think with the time and investment that is involved, you have to love it.”
Frequently Asked Questions
Not all side hustles require a financial investment, but for the ones that do, there’s a plethora of ways to fund a new business—from crowdfunding to taking out a loan. But if you can avoid it, explore the no-cost routes first, says Pasha, especially if you’re already in debt.
Most side hustles are not related to full-time professions, says Jones—but it’s ultimately about what your main goal is for starting one. If you are looking to pursue a side hustle within your field, be careful about non-compete contracts you may have already signed with your employer.
You should always be upfront with your employer(s) about any new work you’re exploring, even if it’s self-employment. “Schedule an open conversation,” says Pasha. “Explain your side hustle’s nature and assure it won’t impact your primary job performance.” It’s likely your employer will understand—47% of UK business leaders believe that allowing side-hustling attracts the best talent—but it’s important to be sure.
Beyond binding contracts with current employers, consider how your tax filing process will change as you’ll need to report your side hustle to HM Revenue and Customs (HMRC) if you are earning more than £1,000 from your side hustle in a tax year. Do you research as the HMRC announced new, stricter rules on side hustles this year.
The best bet, especially in the beginning, is to consolidate your services under one umbrella business if you can, says Jones. If you’re planning to pursue multiple side hustles,
“Look for complementary side hustles that leverage similar skills or share resources,” says Pasha. “Managing multiple hustles requires exceptional time management and focus.”
Source: Top Side Hustle Ideas in the UK — And How To Get Started