These are the 5 best side hustles, according to business experts

One in four people in the UK currently have a side hustle, which generates a huge £72 billion for the UK economy.

If you’re thinking about a side hustle, new research from the business experts at Tide can reveal the 5 best side hustles – from blogging to dog walking.

The research looks at side businesses that can give you the most financial freedom, how you can monetize your passions, exploring self employment and tips on what makes for a great side hustle. 

To view the research in full-

The top five best side businesses:

1. Freelancer: £50,514

Freelancing is a great way to earn money on the side as you are able to still work a full time job, whilst utilizing your skills and passion in the freelancer world. Freelance roles include writer, developer, graphic design and translator. 

2. Virtual Assistant: £40,062

Working as a virtual assistant, means you can support entrepreneurs and business owners in managing their invoices, socials and responding to queries on a part time basis, whilst they are starting up.

3. Blogger: £29,037

Blogging is one of the most popular side businesses to do from home, some of the most popular subjects to blog about are beauty, travel, fitness, cooking and health. With bloggers utilizing their passions to blog about subjects they enjoy talking about.

4. Dog Walker: £18,177

Dog walking is a great way to work a side hustle, it is also a great way to get out for daily exercise. With 50% of UK adults owning a dog and most unable to walk their dog due to work commitments, there is a demand for dog walkers.

5. Affiliate Marketer: £47,347

Affiliate marketing is a great way to make money fast, driving traffic to a merchant’s website via social media, emails and blogs. Choosing a niche with a lot of retailers to boost your chance of making money in this field.

What are the benefits of a side business?

Having a side business can give you more independence and financial freedom. It can open up opportunities to see how working for yourself would be and can even earn you money from a passion project. 

Top benefits from side businesses include:

  • Financial freedom
  • Unlimited earning potential 
  • Monetise a passion
  • Exploring self employment 

What makes a great side business?

There are a whole host of fantastic opportunities to work as a side business, some are more entrepreneurial than others. To create a great side business you should:

  • Look to create an entrepreneurial opportunity by making sure there is a market for the service or product you are looking to offer,
  • Do your research to create the best opportunities you can to make the business a success, read stories from other business owners who have launched into the area you are looking at.
  • Once you know who your audience is, speak with them, as well as industry experts in that field to see if there are any gaps you may be missing.
  • Create a great marketing strategy to attract your audience and generate interest in your service or product. 

To read the full research please click here.

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