Crowdsourcing, the gig economy, side-hustle; whatever you call it, supplementing your income from a second job has never been more popular.
If you’re one of the many to join the gig economy, you’re in good company. Latest research from the Henley Business School reveals that up to 40% of the public have a side-hustle.
Offering a flexible approach to working, and a supplementary income, it’s easy to see why it has become quite so popular with return-to-work parents.
The Rise in Working Parents
Recent figures from the Office for National Statistics (ONS) show a trend towards more working mothers than ever before. Last year, 74 per cent of mothers in England were in work, a rise of five per cent since 2013.
But there’s still a huge gap in the number of part-time roles available for working parents, particularly in certain ‘high-end’ professions.
This is where the humble side-hustle has proved invaluable. Should you still need further convincing, here are five reasons why you need to get involved today…
1. The hustle-life balance
According to the Childcare Survey, it costs £122 a week for part-time childcare growing substantially in certain parts of the country. But what if you could work around your schedule? Stay at home parent by day – content writer by night? It’s completely possible.
There’s plenty of crowdsourcing websites dedicated to creative talents, as well as other industries such as taxi driving and beauty. If you can type notes, undertake research, possess design skills, or can offer a professional service like online content writing, there’s a market willing to pay for your skills – freeing you to play with your kids by day!
2. Less commuting
Studies show that home working is up by a fifth over the past decade, with the greatest rise in working women (up by 35% in 2016). If you decide to side hustle to allow you to work part-time, this means less commuting and more availability to pick the kids up from school.
3. Extra cash
One of the top reasons to join the gig economy is to make the most of your talents and earn some extra cash. If you were to charge £30 an hour for your services, and dedicated five hours a week to this, you’d be £600 richer a month. Although you aren’t obliged to tell your employer, you might want to check your legal contractual hours to ensure you’re staying within working hour limits. You will also need to ensure you register for self-assessment tax with HRMC too.
4. Dip your toes in the water…
Maternity leave can be an inspiring time for many working parents who come up with great ideas for new businesses. But rather than leave a job to risk a new direction, a side hustle is a smart way of dipping your toes in the water.
For instance, if you want to go freelance or diversify into a different industry, a side hustle allows you to try it out and see if there’s a market for it.
5. Go entrepreneurial
And finally, one of the great benefits of joining the side-hustle, is being part of something bigger. You’ll realise that your skills are often helping other like-minded people get their business’ off the ground, which is hugely rewarding. You’ll also expand your network and grow your knowledge in areas you never considered before. Overnight you can become a freelance PR for hire, or even a event guru – the sky is the limit!
Simply put, it’s an enlightening experience and one you can make a good living from if you’re willing to put in the hours.