Many are keen to do a side hustle to earn an extra income but what can one do. Hear about 20 side hustles you can try in the new year!
Almost everyone is looking for ways to generate a little bit more cash in Singapore at the moment. Accounting firm Osome has compiled the top income-boosting side hustle ideas for 2023 which include refurbishing furniture, starting a ‘kitchen table travel agency’ and becoming a YouTube tutorial star.
With inflation reaching a 14-year high, a series of side-earners have been revealed such as opening a mobile pet grooming service and learning enough about tax to do other people’s returns for them. Money can even be made by renting out your garage or car parking space or creating ‘experiences’ for Airbnb visitors, and by testing websites for cash.
The list of side hustles comes after research of 1,000 adults in Singapore found two-thirds (66 percent) would like to run their own business one day. But nearly seven in 10 (68 percent) confess they aren’t totally sure what type of business they would be best suited to operate. The top business respondents would like to run are a business or café, selected by 19 percent, while nine percent would like to be an e-commerce store owner and sell things through Amazon, Shopify or similar.
But 46 percent feel chasing their goals would be too financially risky, while 41 percent worry about the stress they’d bring. Just under three in 10 (29 percent) think they would be too far out of their comfort zones, and 37 percent fear they don’t have enough experience.
Respondents think decision-making is the most important trait to someone starting their own business (61 percent), followed by passion (55 percent), motivation (53 percent) and a relentless positivity to overcome any obstacles (52 percent). And a huge nine in 10 (89 percent) say the idea of being their own boss appeals to them, according to the OnePoll figures. But on average, those with business aspirations have been waiting for more than five-and-a-half years to turn their dreams into reality.
Osome’s spokesperson said: “Especially as you get older, the years go by so quickly that before you blink, half a decade has gone. Many of our respondents have been waiting a decade or longer to start their own enterprise – which is time that could have been spent building the business. Everyone has to choose their own path in life, but turning a passion into a business can mean you never feel like you’re ever really ‘working’.”
20 SIDE HUSTLES TO TRY IN 2023:
- Sell homemade crafts on Etsy
- Refurbish and resell used furniture
- Start a kitchen table travel agency
- Buy and sell pre-owned jewellery
- Rent out your speciality gear
- Become a mover
- Become a notary
- Create an Airbnb experience
- Start dropshipping
- Be another Shopify store owner
- Prepare people’s tax returns
- Test websites for cash
- Rent out garage or car parking space
- Get paid to teach your hobby on Skillshare
- Take up programming projects
- Offer part-time consulting
- Earn passive income through vending machines
- Slide into a repairs side hustle
- Create YouTube tutorials
- Open a mobile pet grooming service
Osome has also created a tool to reveal what sort of side hustle is right for you at https://osome.com/sg/careers-test/.
(** PHOTO CREDIT: Craig Garner/Unsplash)