Rise of the side-hustle: 19% of workers in Wales currently have a second job, earning them around an extra £6,000 each year

Rise of the side-hustle: 19% of workers in Wales currently have a second job, earning them around an extra £6,000 each year

• Over one in two adults in Wales believe multiple jobs is the way most people will work in future

19 per cent of workers in Wales say they already have a ‘side-hustle’, a second job on the side of their main source of income, according to a new study by Informi, who provide expert advice and guidance for Britain’s SMEs. The research also showed that a quarter (25%) of those who haven’t already got one would like one in the future. In addition, over one in two adults in Wales (57%) believe most people will have multiple jobs in the future.

Those who already have a side-hustle make an average of approximately £540 a month from it – totalling £6,480 over the course of a year. Some fourteen per cent of respondents reported that they make up to £2,000 every month from their second venture.

The majority of the workers with a side-hustle say the boss in their main job is aware of it (96%).

“With many Britons feeling a strain on finances, coupled with the rise in the gig economy and technological advances, there’s never been a better time to have your own small business venture in addition to your main job,” said Steven Drew, product manager for Informi. “This could just mean earning a bit of extra pocket money, but equally if you hit on a great business idea, could see you devoting a substantial amount of time and energy into seeing your venture achieve its full potential.”

“There are great opportunities out there to earn potentially significant sums and also develop your business skills. A successful business venture involves many ingredients – marketing, finance, sales and technology to name but a few – so people should be aware of the online tools available, designed to offer support and guidance that could see your side-hustle develop into your main job.”