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Continuing rise of side hustles
Running a side business saw a surge during the Covid-19 pandemic but is a trend that’s not going away. Whether out of passion or necessity, many more people are choosing the path of being their own boss (and the dreaded tax return process).
Side hustles allow people with an entrepreneurial spirit to dip their toes into the world of freelance work – whilst still employed in another job.
Side hustles cover a wide range of passions and business areas such as selling second-hand clothes, selling crafts on Etsy, or even trying out dropshipping or influencer marketing – which makes it no wonder that so many are drawn to it.
According to our SME Insights Report 2023, 40 per cent of established businesses started as a side hustle. With this track record of success, will more entrepreneurs take the leap?
Here are some of the popular side hustles we’ve seen grow in 2023, and could well continue into 2024.
|
Side hustle trend |
% increase 2022-23 |
|---|---|
|
Food van / ice cream van |
22% |
|
Florist |
15% |
|
Craft stall |
14% |
|
Calligraphy |
11% |
|
DJ |
6% |
|
Massage |
5% |
|
Personal tutor |
3% |
|
Fitness instructor |
3% |
Data based on new Simply Business customer policies taken out between January 2022 and December 2023.
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