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The typical online side hustle is generating £5,420 annually, new research has revealed. A survey of 1,000 individuals with secondary income streams discovered they earn an average of £452 monthly alongside their primary employment. Millennials are leading the charge, bringing in the highest amounts at £577 monthly – totalling an average of £6,923 yearly. More than three in 10 participants pocket at least an additional £400 every four weeks, the Royal Mail study found. For 37% of respondents, their supplementary earnings occasionally exceed their main wage – this figure jumps to 54% among Gen Z workers. Popular items being sold as part of these additional ventures include pre-owned clothing, books, accessories and technology. A further 22% generate income through selling handmade goods. The findings are part of Royal Mail's Means Business initiative, which supports small enterprises and offers dedicated assistance for side hustlers through its Small Business Hub, featuring a comprehensive report on the country's secondary businesses. Saadi Al-Soudani, chief commercial officer at Royal Mail, commented: "There's serious money to be made even if you only have a few hours a week. Whether it's selling items you no longer need or creating your own products, online marketplaces have made it easier than ever to start. "Using parcel shops or lockers or even getting parcels picked up from your home is an easy way to ship out all the work you can be proud of." The research also revealed 58% would like to transform their side hustle into their primary income source and 16% already have plans to do so. Meanwhile, 67% are confident they can expand their small business within the next year. Whilst many are driven to pursue their side hustle to generate additional income, a third do it to occupy spare time. For 51%, their supplementary income stream provides them with an enhanced sense of purpose in their lives. The study also showed 94% currently operate their venture from the comfort of their own homes – flogging an average of 32 items online every six months. They typically utilise online marketplaces most frequently (54%), followed by social media (52%) and word of mouth (35%). Two thirds find it most practical to deliver orders to a parcel point and 35% have their dispatches collected from their homes, if they do sell online. The primary obstacles side hustlers encounter include finding sufficient time to dedicate to it, maintaining motivation and attracting new customers. However, 53% have witnessed their earnings grow year-on-year, according to the statistics by OnePoll. Royal Mail's Saadi Al-Soudani added: "Beginning a side hustle is a great way into becoming a fully-fledged business owner. "You really get to know the tricks of the trade before you start up, including the best ways to streamline processes."
