Starting a Side Hustle

Increasing numbers of us are looking for ways to make some extra money. The number of side hustlers is soaring. Whether you are turning a passion, skill or expertise into a money-earner, running a side hustle can seriously boost your income. 

Today, it seems like we're all supplementing our income in some way - from selling items online via Facebook, eBay, Amazon or Etsy to providing services via a freelancer marketplace.

A side hustle can help you manage your money when things are tight and give you a little extra for holidays or unexpected bills. Making some extra cash isn't the only reason to start a side hustle. You might want to test the viability of a business idea and keep your day job while your fledgling business finds its wings.

Running a side hustle

Running a side hustle is easier and cheaper than ever. There are apps for everything from managing your bookkeeping and social media to online banking apps that allow you to take and make payments on the move. You can even build your own website with little or no knowledge thanks to the wide array of web builders on the market. 

Whatever your reason for starting a side hustle, you need to do your homework before you start out:

• Do your market research to make sure there is demand for your product or service.

• Decide how you will sell your products and reach potential customers with your marketing messages.

• Work out you will finance your business.

• Write your business plan.

• Check whether you need to register with HMRC and file a tax return.

• Choose and register your business name. 

• Check for any sector-specific rules you might have to comply with.

You can read the full article on the Start Up Donut website, proud supporters of The Business Show. You can also sign up for our weekly small business newsletters which are packed with small business news, views and offers that will help you on your way.