In my role, I have the privilege of speaking with a diverse range of entrepreneurs about their business journeys and origins. As I reflect on these discussions, one theme that comes up time and time again, is that many start their ventures while still employed. Some set out with the intention of leaving their job, others are simply exploring a passion or testing an idea to launch alongside their career.
Side hustles are a growing feature of the UK economy. Two in five Brits (39%)[1] now run a side hustle as an additional source of income. The uptick in side hustles is being fuelled by a mix of factors.
With the increasing cost of living, many people are turning to side hustles to supplement their income. At the same time, starting a business which makes enough to pay yourself a salary rarely happens at once. It takes time to grow a business to the point where it can sustain you financially. That’s why so many entrepreneurs choose to stay in their day jobs while building their business after hours – managing both sides until the time is right to take the leap.
For many, the dream of being their own boss is a powerful motivator. Side hustles offer a way to explore entrepreneurship while maintaining the security of full-time employment. Starting a side hustle can build confidence, teach new skills and provide hands-on experience in areas like customer service, marketing and financial management. These practical lessons often lay the foundation business owners rely on when they’re ready to take their venture full-time.
For others it’s about having a passion project or a creative outlet, or something they truly love doing alongside their main job. In fact, one in five Gen Z workers have started side hustles to pursue personal interests[2], whether that’s crafting, technology or creative industries.
Take Dr Olivia Clark, for example. While working full-time as a vet in Newcastle, she became concerned with the amount of harmful misinformation dog owners were consuming online. Determined to offer an alternative, she launched Pluto Pets, an app filled with evidence-based tips and activities designed to help people care for their pets’ health throughout their lives.
“I love animals and I love my job as a vet. I was increasingly noticing clients coming to me with incorrect information about caring for their pets and I realised the problem of misinformation was becoming ever more prevalent. Using my knowledge as a vet and passion for animals has allowed me to launch a side-hustle that perfectly complements my full-time career.
Whether launching a business as a side hustle or a full-time venture, the costs of getting started can be a barrier, and so I’m incredibly glad I came across Start Up Loans, as the money has been instrumental in getting my business off the ground.”
At Start Up Loans, we are proud to support entrepreneurs at every stage of their journey, whether they are starting a side hustle or scaling up a full-time business. We provide fixed-interest loans that help entrepreneurs invest in the tools, equipment and marketing they need to get started and grow.
Leah Fontier and Jordan Jones started Glazed & Roasted as a weekend venture, selling artisan coffee from a three-wheeled Piaggio Ape at local events. With the help of a Start Up Loan, they were able to invest in their business, expand their operations and turn their side hustle into a full-time job.
“The Ape was an affordable way to get started, but it wasn’t sustainable. We could only really serve coffee from it, nothing else, and one event had 14,000 people, which was a real challenge. When we started thinking about expanding, we considered converting a horsebox, but then we came across other businesses using vintage Citroën H vans, timeless beauties that fit our brand perfectly.
“The loan helped us purchase and convert the van, which now allows us to serve baked goods alongside coffee, expanding the business significantly. What started as a side hustle has now grown into our full-time job, and we could not be happier with how far we’ve come”.
Their journey highlights the importance of having access to the right support and resources to take a business to the next level. Side hustles often have the potential to grow into full-time businesses, and we’re here to help make that transition possible. Some of the world’s most successful companies started as side hustles. Richard Branson’s first business venture, Student magazine, and Apple’s beginnings in a garage are just two examples. These great success stories remind us that every great business starts with a small idea and the determination to see it through.
Side hustles are shaping the future of work in the UK, offering people the flexibility to explore their passions, supplement their income and build their confidence as entrepreneurs. For many, they are the first step on the path to full-time business ownership and they play a vital role in driving innovation and economic growth.
At Start Up Loans, we remain committed to supporting side hustlers and small business owners alike, providing the finance, mentoring and resources they need to succeed. Whether it is a weekend coffee stall or a tech start-up in a garage, every business has the potential to grow into something extraordinary.
[1] https://www.finder.com/uk/business-banking/side-hustle-statistics
[2] https://www.visa.co.uk/about-visa/newsroom/press-releases.3334742.html
