Side enterprises earn Britons an extra £411 per month, with some earning over £900.
More than half of all employed adults in the United Kingdom have a’side business,’ but which of these side enterprises are worth investigating?
According to research conducted by 118 118 Money, Britons earn an average of £411 a month from these secondary sources of income. There has also been a significant increase in side companies, with roughly a third being started as hobbies-turned-profit following the initial lockdown.
118 118 Money’s findings were as follows:
This side hustle does necessitate some technical know-how and equipment. Podcasters made an average of £954 per month, making it the most profitable secondary income source.
On the surface, candle-making may appear to be a niche sector, but the popularity of selling handcrafted candles is growing. This is true not only in terms of selling, but also in terms of creating, as the waxing process is considered to be highly therapeutic. It brings in £670 each month on average.
Renting a flat or space became highly profitable during lockdowns as additional spaces were needed as individuals moved, isolated, and stayed at home, closely following candle-making at an average of £657 per month.
Blogging may be rather successful, almost as much as renting out a place, with an average of £646 per month, and it isn’t limited to those with exceptional writing abilities. It is enough to gain a following by just giving one’s unique perspective on current events, niche interests, or philosophical problems.
Cushions, carpets, and draperies fall into the category of ‘soft furnishings,’ and selling these items, whether homemade or not, averaged £616 each month.
Many people took on the unique challenge of learning to sew, embroider, or make accessories out of materials like polymer clay during lockdown. This is a fantastic secondary source of income, averaging £528 each month.
Soap-making is sometimes associated with candle-making, despite the fact that it is not as profitable as handcrafted candles. It may generate a monthly profit of £525 on its own.
Making a £517 monthly profit via ghost-writing, freelancing, or self-publishing is a very lucrative side business for any literary fan.
When it comes to acquiring materials and manufacturing the items, this side business can be expensive and time-consuming, but with an average of £485 per month, it might be well worth it for budding caterers or foodies.
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