Thousands of Canadians have started a business on the side that allows them to pursue their passions while boosting their incomes.
A poll of 2,000 adults with full-time employment found that more than one-quarter of them have already turned a hobby into a side hustle while staying in their current jobs.
And more than half, 55%, admitted that they would like to turn their passions into a money-making venture, but have yet to take the leap.
14% of side hustlers report making up to $22,800 annually - well more than that of a minimum wage full-time employee working 40 hours a week.
Beauty and Wellness is found to be the most popular side business sector, which includes hairdressers, personal trainers and dietitians.
Artists, DJ's and designers - along with retail businesses, selling in online shops - are also popular area.
Generating a little extra cash is the top reason people have either started or would like to start a side business (62%), but 37% started a side business to pursue a passion and more than a third (41%) did so to spend more time doing what they enjoy.
Canada's side business economy is booming, as employees increasingly look for financial, professional and personal fulfilment that may not be present in their main job.
More than half of these small business entrepreneurs (59%) treat their enterprise as a '5 to 9' pursuit, working on it in the evenings to fit around their workday. A typical side business takes up to 16 hours a week, while 34% of those polled spend 20+ hours a week working on it.
It is recommended that you start with something you already enjoy, focusing on tasks which generate revenue, building a strong social media presence, and networking with people who have succeeded.
TOP TIPS FOR SIDE BUSINESS OWNERS.
1. Ensure your side business is something you enjoy.
2. Focus on tasks that generate revenue.
3. Build a strong social media presence.
4. Set long term goals.
5. Leverage word-of-mouth marketing.
6. Network with people who run side businesses.
Do you have a unique idea for a 'side business? Let's share some ideas!!
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