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Many small businesses and sole traders need help with day-to-day tasks but don’t want to hire a full-time employee. If you’re organised and good at staying on top of admin, working as a virtual assistant can be a great way to earn some extra cash. This is good news for anyone who fancies earning extra cash by flexing their linguistic muscles.
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Indeed, it’s estimated that the 47% of Brits with a side hustle earn around £800 a month from their activity on average. Buying and selling more goods each week or opting for one of the more ambitious side hustles listed below could prove even more profitable. Get a filled-out example and a ready-to-use simple business plan template. Before you settle on a particular side hustle, conduct some market research to find the best fit for you – one that interests you enough to work on in your spare time.
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- If you earn money from a side hustle, you may need to register as self-employed and tell HMRC.
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Your items may sell for less, but it could be a good way to sell lots of items at once. You could also sell your items at a car boot sale. Sell your old clothes, books, homeware and more online.
This is when brands pay you to post content about their product. You can also make money on social media through paid adverts. The more your video is seen and engaged with, the more money you’ll make. You’ll receive money for videos you post based on performance. This could also include experiences, like a meal or holiday. You don’t have to have millions of followers to make money on social media.
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Start with your skills, interests and the time you can realistically commit. It’s worth checking the rules early so you know where you stand – but remember, you only need to notify HMRC if you earn over £1,000 from your side hustle. This usually depends on how much you earn and whether you trade regularly, rather than just making the odd sale. You might think that what you do in your spare time is no one else’s business, but you may need to tell your employer if your sideline crosses over with your main job. For example, if you proofread reports for companies, you might benefit from cyber insurance to protect you financially if your computer is hacked.
