[PRESS OFFICE] There is, of course, nothing new about making extra money on the side. Whether you’re saving up for a dream vacation or just trying to keep the wolf out of the door during a tough time, taking on a second job, finding a paying hobby, or starting a small home business are proven ways to boost your income.
The digitization of the world, however, has opened up a much wider range of opportunities to jostle and potentially engage audiences of unprecedented size. If you can find the time and energy for it, you can activate several sources of income by registering your spare room on a rental platform, viewing businesses all over the world via Zoom, buying and selling goods on eBay and transforming your passion for baking. in a YouTube channel generating advertising money.
There is a global view that modern hustlers and slashers (e.g. “I am a teacher/photographer/consultant”) are ushering in a new era of work where having sustainable streams of income in addition to a salary will become the norm , throwing away employers’ traditional opposition to moonlighting. And for young people moving forward into new careers, side hustles are often touted as not only ways to make more money, but also to develop the talents that aren’t being used in their 9-to-5s, to keep them longer. open doors in a rapidly changing world and to achieve greater purpose and fulfillment in life.
Whether the motivation is aspiration or desperation, side hustle is important for a significant portion of middle and upper income South Africa. BrandMapp, the country’s most comprehensive survey of people living in households with a monthly income of more than R10,000, reports that 43% of them have a secondary income, and for 30% of them, this comes from secondary activities such as running small businesses, home industries, and working. to jobs that are completely different from their main job.
BrandMapp Director of Storytelling Brandon de Kock says, “In 2019, 63% of our respondents had only one source of income, their job. This year, that percentage has dropped to 57%. In today’s economic conditions, it wouldn’t be surprising if many of these secondary activities simply help people make ends meet. What’s interesting is using BrandMapp’s versatile dataset to better understand slashers and what they do.
According to BrandMapp 2022 data, only 24% of full-time employed people are slashers, but 47% of independent entrepreneurs in South Africa are slashers, which is significantly higher than the overall average of 30%. But does wearing several hats pay off?
Work more, do better!
When asked how they felt financially in 2022, slashers are only slightly more likely to feel at the same level or better than non-slashers than they were in 2020, which is yet another indicator that side hustles primarily fulfill a financial situation. deviation rather than being an ‘addition’. But it’s when you consider the work environment and type of job that the true indicators of the scam begin to reveal themselves.
“For starters, the vast majority of slashers are hybrid workers, like 65 percent.” explains de Kock. “There are obviously many reasons why this is the case, but I’m sure one of the driving forces is that full-time people now working from home will feel less sheepish about having a sideline without that the boss isn’t looking over their shoulder!And the irony is that there’s plenty of anecdotal evidence to show that employees working from home are more productive than ever.So companies win, and their hustling employees do too !”
The work of a young
Anyone can have a side hustle, but data shows that more creatives (artists and writers in particular), software developers, management consultants and sales professionals are getting into it. And there are also certain industries like the restaurant, tourism, beauty and leisure sectors where a side hustle is obviously part of the landscape. But one of the most telling insights is that there’s a clear age continuum at play in the world of hustles.
De Kock says: “It’s clear that when it comes to age, digital natives, with their ability to multitask and quickly swap tasks, have more flair, time and energy for secondary activities. And you have to remember that the demographic reality of South Africa leaves us with one of the youngest skilled workforces in the world. So if you ask me, what we’re looking for here is definitely not a passing trend: secondary hustle is here to stay.
To learn more about BrandMapp 2022, click here.
BrandMapp is a unique South African dataset that uses a mega-sample of over 30,000 respondents to profile the 12 million adults who live in middle to high income households earning over R10,000 per month . This 30% segment of the population accounts for 100% of the nation’s tax base and 80% of all consumer spending. Now in its eighth year, the BrandMapp survey is a bespoke independent survey created by WhyFive Insights in partnership with SilverstoneCIS, the leading digital platform research and marketing group.
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