When it comes to finding your perfect Side Hustle - first take the time to understand the different types
Gig Hustles
These are the Entry Level hustles.
They won’t make you rich beyond your wildest dreams, but they take little or no investment, are completely flexible around your existing commitments, and let you earn money any time of day.
Examples include: testing mobile games, food delivery, taxi driving (eg Uber).
Freelance Hustles
Freelancing is an excellent path for Side Hustlers looking to monetise their existing skills.
By leveraging their expertise - be it writing, graphic design, programming, or social media management—individuals can take on projects that fit their schedule and personal interests.
Starting a Business
Additionally, starting a small business fosters your creativity and innovation, allowing you to pursue your passions and bring your unique ideas to life.
The process of entrepreneurship also promotes personal growth, as you develop essential skills in management, marketing, and customer service.
These can also be flexible and fit around family life. Check out Starting a Bouncy Castle business for inspiration!
Sole trader vs Limited Company – what’s the difference?
Most people starting a side hustle begin as a sole trader. It’s the simplest way to get going — you register with HMRC, keep basic records, and pay tax on your profits through Self Assessment. You and the business are legally the same, which means you’re personally responsible for any debts.
A limited company is a separate legal entity. This can bring tax advantages and protect your personal finances, but it also comes with more admin and reporting requirements.
Not sure which is right for you? We’ve put together a full guide on the pros and cons of each structure — read it here.
What is Self Assessment?
Self Assessment is HMRC’s system for collecting income tax from people whose income isn’t automatically taxed through PAYE. If you’re self-employed, run a side hustle, or earn money outside your main job, you’ll usually need to register, complete a tax return each year, and pay the tax and National Insurance you owe.
It sounds daunting, but once you know the steps, it’s manageable — and we’ve broken it all down for you. Read our full guide here
Ready to launch your business and have help on hand? Join Hustle Mate today!
Save time, avoid mistakes, and keep your business on track - all for less than a weekly coffee!