With recession looming large and bills on the rise, we could all do with a bit of extra cash in our pockets. A side hustle is a great opportunity to earn a bit more money doing something you’re good at or passionate about. You’re in good company too - according to research from Aviva, one in five Brits has started a side hustle since March 2020.
We’ve put together a list of some of the top side hustle ideas you can get into for 2023 to help put a few more pounds in your bank account.
What is a side hustle?
A side hustle is a way to earn some spare cash outside of your 9 to 5 job - it provides you with a supplementary income which can offset the huge increase in the cost-of-living. It can turn into a recurring revenue stream to cover those extra living costs or pay for a few luxuries. For some, it may even become their main source of income, enabling them to leave their day job altogether.
What side hustle can I start with little money?
If you’re starting a side hustle to earn a bit extra, the chances are you may not have a lot of cash to invest in it in the first place. But fear not, a side hustle doesn’t have to be an expensive investment. In fact, you can start many side hustles with little to no capital at all. Look at what skills you already have or what assets you own and might be able to use.
If you have a car, then you can make additional money as a ride-share service or delivery driver. Similarly, if you’ve got a spare room in your home, consider hosting a someone. If you’re a wordsmith you could start your own blog on a subject you’re passionate about and monetise it through affiliate marketing. If you’re a keen hobby dressmaker you could turn your interest into a paying opportunity by charging people for alterations and repairs.
How much profit can you make from a side hustle?
You can earn anywhere from a few hundred pounds a month to £1,000 or more. According to research from communications provider Plusnet, under 35s are topping up their income to the tune of £8,400 a year on average with their side businesses.
Just remember, whatever business you start from home, you’ll need to make sure you’re paying the right taxes.
Here are our top side business ideas for earning extra money in 2023
If you like animals, becoming a dog walker can be a simple way of supplementing your income, and getting in those steps. More than three million households bought pets in lockdown and now there is huge demand for reliable walkers and sitters. With sites like Rover or Pawshake it’s easier to find clients.
Learn more in our guide on how to start a dog walking business.
If you’ve got a car you can become a rideshare driver in your spare time. With apps like Uber or Bolt it’s easy to get registered and you choose your hours - simply log on and make yourself available in line with your schedule and other jobs.
You could become a delivery driver for a local takeaway business or you could sign up to apps like Uber Eats or Deliveroo. Much like the rideshare service you can pick and choose when you work, toggling the app on and off when it suits.
If you speak another language or are a whizz at maths, monetise it by teaching online. There’s strong demand for tutors to help young people prepare for their GCSEs and A Levels. Some take up tutoring while still at university themselves as a way to earn a bit more. Sites like Revision Centre and Tutor House can help you get started.
Sell your creations
For anyone creative, selling crafts to a wider audience can be a way to do what you love and make money from it at the same time. Marketplace apps like Etsy and Not on the High Street have given artisan sellers a global platform but you can also create your own online store where you have full control over marketing, pricing and shipping.
If you like the idea of running a business but without the hassle of fulfilling physical orders, dropshipping could be the answer. In this business model, a bit like print on demand, a third party manufactures and sends the products. It’s simple to set up - you create an online store, set your prices, handle the marketing and day-to-day running of it all.
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B&B and home rentals
With sites like Airbnb, renting out a spare room or apartment has never been easier. Depending on how often you want to do it and where you live, you can make a sizable additional income from this side hustle. If you live in an area where parking is at a premium, you could also rent out your driveway.
VAs help business owners with everyday tasks and admin - answer calls, reply to emails, organise diaries, post to social media and write content. Depending on the type of work and business, you can earn between £12 and £25 per hour.
Start a podcast
Podcasting has grown hugely in popularity in recent years with the best shows receiving millions of plays and the best thing about it is you can start with minimal equipment - a high quality microphone that links to your phone or computer is really all you need. Once you build a following you can start to monetise your show with sponsorship, selling merch or joining an advertising programme.
Fill out online surveys
Online surveys won’t earn you a fortune but they require very little effort in exchange for freebies, cash and other compensations. With sites like Survey Spotter, you can sign up in minutes and start earning from the comfort of your sofa.
Start an odd job business
For anyone who’s a whizz at DIY, offering yourself as an odd-job person is an easy way to make some money. People always need shelves putting up, lawns mowing, beds being built or a bit of painting done. You can make getting paid even easier by sending electronic invoices or by using Square Reader to take mobile payments at the end of each job.
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Become an affiliate marketer
If you already have a blog or website, you can earn extra income through affiliate marketing. This is where you advertise someone else’s products or services on your site and receive commission from sales made through your referral links. It can be a side hustle within a side hustle if you like, and a great way to make passive income while you work on other things.
Write and review CVs
Lots of people need help when writing or updating their CV and you could be the one to help them do it. If you understand how to write CVs, have great grammar and attention to detail, you can advertise your services on sites like Fiverr or Upwork.
Sell digital products
These could be online PDF guides, ebooks, educational materials, digital templates, new fonts or graphics, music, or sound effects. You can sell your products online with paying users able to download them directly to their devices.
Start and monetise a YouTube channel
YouTube is the second biggest social media platform in the world with around 2.2 billion monthly active users. It’s free to start a channel and, while it takes time to build an audience and monetise your videos, it can be very lucrative in the long term - popular YouTubers pull in thousands in ad revenue each month.