{"id":544284,"date":"2021-12-07T17:01:57","date_gmt":"2021-12-07T15:01:57","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=544284"},"modified":"2021-12-07T17:01:57","modified_gmt":"2021-12-07T15:01:57","slug":"these-are-the-types-of-side-hustles-middle-class-south-africans-are-turning-to","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/544284\/these-are-the-types-of-side-hustles-middle-class-south-africans-are-turning-to\/","title":{"rendered":"These are the types of side hustles middle-class South Africans are turning to"},"content":{"rendered":"

A growing number of middle-class South Africans are looking for a second income stream to get through the month, data from the Momentum\/Unisa Household Index shows.<\/p>\n

The index shows that an estimated 14% of households obtain an additional income from a side hustle. The majority (88%) of these households have one side hustle, while 12% have two or more.<\/p>\n

Around a quarter (24%) who said that they have side businesses are in households with an annual income of between R30,301 to R52,900. Within income groups, higher-earning households tend to be somewhat proactive when it comes to a side business – a third (32%) of households that earn between R614,401 and R863,900 per annum have a side business, the data showed.<\/p>\n

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The most popular side hustles\u00a0<\/strong><\/p>\n

The report noted that most side hustles can be categorised into two groups. A vast majority fall into the trade, catering and accommodation industry, with many entrepreneurs selling produce or food – such as atchar, eggs, baked goods from their home or at the office – or clothing, jewellery, cosmetics, or similar products.<\/p>\n

The second is personal services such as beauty salons, nail technicians, mechanics, garden, and maintenance services.<\/p>\n

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Data from research company BrandMapp in September shows a clear shift by South Africa’s middle-class towards starting a side hustle or second job.<\/p>\n

The group refers to these South Africans as ‘slashers’ –\u00a0a term that refers to people wearing multiple hats when it comes to work, in the vein of \u2018I\u2019m an actor\/writer\/director\u2019.<\/p>\n

BrandMapp’s data showed that 63% of middle-class South Africans said they had no sources of revenue other than their main job in 2019. However, as the country entered lockdown this dropped to 59%, and a year later that dropped to 54%.<\/p>\n

“If you look at the people reporting that they now have their own small business, are involved in other economic activities, have a home industry or a second job that\u2019s different from their main work, we find 35% of middle-class South Africans are today\u2019s real slashers,” said BrandMapp’s director of storytelling, Brandon de Kock.<\/p>\n

“Middle-income earners are increasingly working multiple jobs to make ends meet, no longer able to rely on just their salary.”<\/p>\n

The group’s data also shows a direct\u00a0correlation between the job satisfaction of middle-class South Africans and the size of the business that they work in.<\/p>\n

“Almost 50% of South Africans working solo love their work, and as the business gets bigger, there\u2019s a steady decline in loving how you make your living, with just 29% of people working in big corporations agreeing with the sentiment \u2013 a proof point that being a number isn\u2019t very life-affirming,” said de Kock.<\/p>\n

Data collected by BusinessTech also reflected that South Africans are looking at additional side businesses to help generate extra income.<\/p>\n

In May, a poll of nearly 3,000 BusinessTech readers showed that 18% of South Africans had a side business. This increased to 24% of readers in a similar survey of readers in October.<\/p>\n

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Read: Here are your chances of employment in South Africa \u2013 based on your level of education<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

A growing number of middle-class South Africans are looking for a second income stream to make ends meet, the latest Momentum\/Unisa Household Index shows.<\/p>\n","protected":false},"author":10,"featured_media":544942,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872],"tags":[26,6652,9250],"class_list":["post-544284","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-headline","tag-momentum","tag-unisa"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/544284","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=544284"}],"version-history":[{"count":7,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/544284\/revisions"}],"predecessor-version":[{"id":544952,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/544284\/revisions\/544952"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/544942"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=544284"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=544284"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=544284"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}