Running a side hustle could boost your annual earnings by a substantial £5,400, according to new research commissioned by Royal Mail. The findings highlight a significant trend of Britons supplementing their primary income through various passion projects and online sales.
Who is Earning the Most from Their Side Hustle?
A poll of 1,000 people with a side business found they make an average of £452 per month outside of their main job. The research indicates that millennials are leading the charge, bringing in an impressive £577 per month, which averages out to £6,923 over a full year.
Furthermore, the data shows that more than three in ten (31%) side hustlers take home at least an extra £400 every four weeks. For a notable 37% of respondents, the income from their side project sometimes exceeds their main salary. This figure rises dramatically to 54% among Gen Z workers, underscoring the financial importance of these ventures for younger generations.
What Are People Selling?
The research identified the most common items sold as part of these extra income streams. Old clothing is the most popular category, sold by 44% of respondents. This is followed by books (35%), accessories (31%), and technology (26%).
A further 22% of people are making money from selling handcrafted items, indicating a strong market for unique, artisan goods. On average, side hustlers dedicate 10 hours per week to working on their passion projects.
Royal Mail's Support for Side Hustlers
This research forms part of the Royal Mail Means Business campaign, which champions small businesses. The campaign has dedicated support for side hustlers available on its Small Business Hub, including a detailed report on the nation's side businesses.
Saadi Al-Soudani, chief commercial officer at Royal Mail, commented on the findings. "There’s serious money to be made even if you only have a few hours a week," he said. "Whether it’s selling items you no longer need or creating your own products, online marketplaces have made it easier than ever to start."
Al-Soudani also highlighted the logistical ease for new sellers. "Using parcel shops or lockers or even getting parcels picked up from your home is an easy way to ship out all the work you can be proud of." He added that beginning a side hustle is an excellent pathway to becoming a full-fledged business owner, allowing individuals to learn the tricks of the trade and streamline their processes before fully committing.
