Side Hustling in 2020
What is the gig economy and why is it significant in 2020?
The Harvard Business Review tells us the “gig economy” was coined to reference knowledge-based work and the decline of large agency firms completing outsourced work for large corporations. While the gig economy did not materialize this way, the term is alive and well. When we talk about the gig economy, we’re referencing the freelancers, artists, side-hustlers, contract and independent workers. Freelance, contract and independent workers make up the bulk of the gig economy workforce with a combined income of almost USD$1 trillion.
Working a “standard” 9am-5pm and retiring after 30 years with one company is a slowly dissolving reality. In Canada, the gig economy made up 8.2% of the workforce in 2016. This number is predicted to grow in correlation with rapidly evolving social media and e-commerce platforms.
Who works in the gig economy?
You may automatically think of artists, musicians, influencers and creatives as gig workers but there are many more types of gig workers. Airbnb landlords, small business owners, seasonal workers, multiple job holders, contractors, consultants, part-time workers and volunteers can all be considered gig workers.
What’s the appeal?
Most people looking to enter the gig economy are seeking a better work-life balance. In fact, 64% of millennials want to have a “side hustle” to make extra money and 60% of independent gig workers consider their working conditions to be flexible. With an increased monthly income, flexible working conditions and autonomy over what gigs workers choose to employ, it’s no wonder this workforce continues to grow.
How can you get into the gig economy?
If you’re a creative mind and have a vision to mix your creativity with business, consider setting up your online store to sell your branded merchandise. Setting up an online store with an e-commerce platform has an initial low monetary investment and a low time investment to get started. With a print-on-demand drop-shipping app like Slaite, you can also avoid the time and money investments for production, warehousing and shipping without compromising quality. Slaite charges no setup fees and is here for you every step of the way.
The best part?
Owning your business and investing in yourself has benefits beyond additional monthly income. Your business acumen and know-how will continue to grow the more you invest in yourself and your labour of love. With the e-commerce industry growing at a rapid rate in 2020, now is the time to monetize your creativity and begin your side hustle journey.
If you have more questions about print-on-demand, drop-shipping or who Slaite is, check out our blogs and FAQ section or send us a message. We are always ready to help Creators realize their creative vision.