As inflation drives up the cost of everyday necessities, many Brits are searching for ways to supplement their incomes. According to research from money.co.uk, almost a third of workers (31%) already have a ‘side hustle’ while a further 42% are considering taking one up.
Money.co.uk business loans investigated how many Brits have turned to side hustles and the reasons why. By surveying over 2,000 Brits about side jobs, it found out how many workers wish to start a side hustle and the stress levels of those already running one.
Almost a third (31%) of workers already work two jobs, and over four in ten (42%) British workers want to take up a side hustle, compared to just 28% who are not considering the opportunity.
The potential to make more money was overwhelmingly given as respondents’ main motivator for taking on or considering a side job. Seven in ten (71%) of those asked gave this as one of their top reasons for starting or wanting to start a side hustle.
Almost a quarter (24%) of respondents are not satisfied with their main jobs so have turned to a side hustle to fulfil their passion. One in five (18%) respondents said that they hope one day to leave their main job in favour of the business they would start.
Over half (net 51%) of those with side jobs stated that their side hustle causes them stress. Pressure from the focus of turning their business profitable, and the possible dependence on this in order to supplement their main income, is likely putting stress on workers with a side hustle.