Is it worth starting a side business?

Starting a side hustle can be a great way to test the waters and see if you can receive an income from doing something you love, while still having the safety of your current employment.

Which side business is most profitable?

Is starting a side business worth it?

For the typical worker, side hustles are absolutely worth it. You'll make money, build skills and confidence, and potentially begin building an asset/business that can replace your full-time job in a couple of years.

Why do side hustles fail?

Many side hustles fail because they don't make enough money to justify the time and effort. If you're working 10+ hours a week on your business but barely making enough to cover expenses, frustration will eventually set in. The issue often comes down to pricing and cost structure.

What is the best side hustle in the UK?

How to start a Side Hustle without quitting your 9-5: My strategy

How to make 500 a day in the UK?

What is the highest paid side hustle?

Why shouldn't you have a side hustle?

Specifically, a side hustle can drain time and financial resources, add unmanageable stress to your life, and lead to worse quality of life because of the sacrifices required to work a second job. As a result, it's essential to evaluate your circumstances and identify your goals before starting a side hustle.

What is the average side hustle?

Median side hustle income earnings are currently at $200 per month, down from $250 per month in 2024. Average side hustler monthly income is also down from last year. Side hustlers are earning $885 per month in 2025 on average compared to $891 on average per month in 2024.

Why is everyone obsessed with side hustles?

But it's not all about financial pressure. A significant proportion of people cite creative fulfilment and the desire to monetise something they already enjoy as their main motivator. In other words, many aren't just side hustling for survival — they're doing it for freedom, purpose, and control.

Should I declare my side business?

Yes, if your side-hustle is run in such a way as to amount to a trading activity and that you make a profit above your available tax allowances. A side-hustle will be classed as a trading activity from a legal perspective if any of the nine 'badges of trade' are evident.

What business should I start on the side?

Sell your skills. Most skill-based businesses are free to start, since you don't need inventory. Look at the skills you already have and research whether they're in high demand. Popular skills-based side business ideas include freelance writing or editing, graphic design, and personal training.

What are the disadvantages of side hustles?

Adding more stress.

Filling valuable time with more work, even a passion project, may pile on stress. In addition to taking time away from friends and family, a side hustle will require additional record keeping and may complicate tax filings.

What small business is very successful?

What are some extra income ideas?

Side hustles such as rideshare driving, food delivery, babysitting or photography provide additional income that can fit around a full-time job. Selling unwanted items or renting out property, vehicles or equipment can be an easy way to generate passive or one-time income.

Which business is best to be rich?

How many side hustles fail?

But here's what those success stories don't tell you: 90% of side hustles fail in the first year. Not because the ideas are bad. Because nobody shares these brutal truths: 1. Your first idea will fail Not because you're bad at business.

How many Brits have a side hustle?

One in three Brits now have a side hustle. A new report has revealed that there are now around 1 in 3 working people who have a side hustle – this contributes as much as £70 billion to the UK economy every year.

Do side hustles really make money?

The amount of money you can make from a side hustle depends on various factors, such as how much time and effort you put into it, your skill level, and the type of hustle. Generally, some hustles can pay off quickly, while others may take months or years to build a profitable income.

What is the number one side hustle?

At what point is my side hustle a business?

The profit motive is also crucial; the activity must aim to generate income beyond just covering its costs. If these conditions are met, the activity is likely considered a trade, and thus subject to business tax obligations.

What is the best side hustle you can do?

What is the cheapest side hustle to start?

How much can you make from a side hustle in the UK?

The tax-free trading allowance is £1,000.

This means that if you're earning over £1,000 from your side hustle, you'll need to pay tax. However, now that HMRC is set to raise the income tax Self Assessment reporting threshold, you won't need to submit a Self Assessment until you earn £3,000.

What are remote side jobs to make extra money?

Remote side hustles that offer flexibility and growth include freelance writing, virtual assistance, online tutoring, digital marketing, and graphic design. To succeed, focus on building skills in demand such as content creation, social media management, or coding.