Business

South Africans consider side hustle to supplement income: report

By BR Reporter 26m in the past

Share this text:

As South Africa enters a year of Covid-19 and lockdown restrictions, many individuals have thought-about a side hustle to assist them with their funds.

This is in accordance to a research carried out by retailer Game shops. The retailer gathered the knowledge by asking its shoppers simply how a lot they thought a side hustle may supplement their revenue in 2021. The analysis was carried out in December 2020.

A side hustle is mostly freelance work to supplement one’s revenue.

According to the report, nearly a 3rd of these surveyed mentioned they estimated that they might earn an additional R20 000 (or extra) a year.

The report additionally acknowledged that the Covid-19 pandemic noticed massive reductions in individuals’s salaries or job losses, and plenty of realised the necessity to be self-sufficient with out having to depend on an employer. “Over half cited this as their main reasons for wanting to start a side hustle.”

Game vp of selling Katherine Madley mentioned the retailer carried out the analysis to perceive buyer behaviour.

“Game researched to better understand how much consumer behaviour has shifted in the last year as a result of Covid-19, and where their priorities currently lie.

“I also think people have realised that they are more driven to take charge of their lives – nearly half of those surveyed said they want to follow their passion in 2021,” she mentioned.

She mentioned the analysis perception will assist the retailer with its merchandising technique.

“It is encouraging to see that despite the difficult times South Africans have experienced in the last year, they are still optimistic that a side hustle can help them through 2021,” says Madley.

The analysis revealed {that a} side hustle would permit individuals to generate additional revenue to assist the needy or fund additional training, indicating an general need for self-improvement and giving again.

Game additionally partnered with expertise entrepreneur, Luvuyo Rani, to achieve perception into what it takes to begin a side hustle in South Africa in 2021. His prime suggestions are:

Embrace the Gig Economy

“Make use of platforms like websites, microsites, messaging platforms, and social media as part of your tools when creating a profile for your business.”

Have a Content Strategy

“Make sure you are focused on how best to create and share your content, in a way that speaks directly to your target audience and creates interest and talkability.”

Be Authentic

“Focus on what makes you unique and use that to fuel you to boldly follow your passion.”

Commit to Lifelong Learning

“Learning is a lifelong journey, especially in a society that evolves at such a rapid pace – and incredibly important as we move toward the 4th industrial revolution.”

Find a Mentor

“Be confident enough in yourself to ask the important questions – there is always something new to learn and there is always someone willing to work with you and teach you.”

Be Prepared to Make Mistakes

“No one person knows all the answers. The important thing is to keep a positive attitude, even when you make mistakes.”

Prioritise Your Wellbeing

“Exercise as often as possible, make sure you are sleeping well, drink enough water, pray or meditate, and remember to be grateful.”

BUSINESS REPORT ONLINE

Back to top button