UK businesses like GoDaddy are backing the trend
GoDaddy, the world’s largest cloud platform dedicated to small, independent ventures, today launched its “Side Hustle” Campaign to encourage supporting nine to five workers who are looking to start a business in their spare time.
· It comes as New research released today show that 20 per cent of UK employees are likely to start a “side hustle” alongside their job in the next two years, but 54 per cent would keep it a secret from their boss out of fear of not gaining their support
· The majority (56 per cent) of employees with a “side hustle” make £500 – £5,000 in extra income per year and 48 per cent of employees started their “side hustle” to develop a passion or hobby
· Supporting workers’ “side hustle ambitions” is the first step in creating a career that truly nurtures personal and professional development
· GoDaddy supports employees’ entrepreneurial endeavours outside of their day job
· The call is being launched during an expert policy roundtable about the quickly growing trend of “side hustle”, attended by figures such as Matthew Taylor, Emma Jones and Chris Guillebeau
new figures – released by GoDaddy – show that 20 per cent of UK full time employees are likely to start a “side hustle” alongside their job, but 54 per cent would keep it a secret from their boss.
Chris Guillebeau, author of the soon to be published book “Side Hustle: Build a side business and make extra money – without quitting your day job”, has welcomed GoDaddy’s call to UK employers:
“People already know that starting a side hustle is a great way to make extra cash and build more security for themselves, but employers are sometimes resistant.
“They shouldn’t feel threatened! A company should want its workers to come to work because they believe in the mission. Having a side hustle allows people to be more balanced without being disloyal to their boss.”
“Side hustle” is the name for the growing trend of kick-starting a personal enterprise or microbusiness during spare time or away from the day job. GoDaddy survey results have revealed that a “side hustle” typically provides £500 to £5,000 in extra income per year.
The “side hustle” trend is rapidly increasing in popularity. According to additional GoDaddy research carried out by Enterprise Nation, 48 per cent of those who have started their side hustle are doing it to develop a passion or hobby.
In the last year, Google Trends show that searches for “side hustle” have increased 138 per cent in the UK and 178 per cent in the USA.
GoDaddy has been supporting entrepreneurs since 1997 through easy access to GoDaddy products like domain names, websites and hosting to kick start independent businesses.
Side hustler, Camille Simpson has benefitted from GoDaddy’s support of side hustles, and remains an employee a year after starting her events planning business in her spare time.
A Product Marketing Manager at GoDaddy, she has recently started working on her business “Urban Events”, which runs events for young people in London around fashion, music and art.
“I have loved starting my side hustle alongside my day job – it gives me the power to be creative and push the boundaries around a key passion of mine. I always thought you would have to give up your day job to run a business – but this way I’m not totally dependent on either, but enjoying the benefits of both ways of working.”
GoDaddy’s workers have started successful businesses as diverse as events management, ethical retailers, therapeutic sessions and photographers. When a new employee joins GoDaddy, they receive website building tools and hosting packages to help pursue their entrepreneurial ideas and hobbies.
GoDaddy discussed the exciting new trend at a roundtable of policy experts on ways of working at the Royal Society of Arts including ways of working guru Matthew Taylor, Founder of Enterprise Nation Emma Jones and author of best-selling book “Side Hustle: Build a side business and make extra money – without quitting your day job” Chris Guillebeau.
The roundtable aimed to discuss the opportunities and challenges of the trend, with GoDaddy noting the positive opportunities for UK business in supporting their workers’ entrepreneurial ambitions.
Stefano Maruzzi, GoDaddy VP for EMEA said: “Supporting workers’ side hustle ambitions can be a step in creating a career that truly nurtures personal and professional development, helps to retain highly motivated and engaged workers and helps bring us closer to the customers we serve.”
Emma Jones, Founder of Enterprise Nation said: “As employers push to innovate and embrace 21st century ways of working, we have to remember that there is so much to do to encourage that entrepreneurial spirit that is the bed rock of our British economy.
The “side hustle” doesn’t mean abandoning your job or employers helping you leave over an extended period of time – it means having the capacity to develop your passion alongside your day job, and have that balance between security and creative freedom.”
Matthew Taylor, Ways of Working expert, said:
“This is an absolutely fascinating conversation, and it’s a conversation we should be having a lot more. Side hustle is a good thing, and as the opportunities it offers grow, it’s important we have the right framework and policies in place around them.
“We need to get more data on side hustle in to really understand what’s going on. And we need to use that data to differentiate between different groups of people and their motivations around starting a side hustle. Those different motivations will raise different issues or challenges.
“The central challenge is how to we create a piece of research or dialogue to supplement the conversation, to predict the challenges ahead and develop a high quality conversation between GoDaddy and other providers and civil servants and policy makers, so that we don’t walk into problems, as we have seen other companies with innovative business models doing.
“These will include employment regulation, benefits and tax credits and coordination with HMRC – ensuring that there are regulations which help people who are side hustlers do the right thing, which are necessary, but in ways that aren’t’ going to be bureaucratic.”
“It is important that there are some regulatory structures in place to ensure that people are protected but able to carry out their side hustle.”
Tom Thackray, Director of Innovation at the CBI said: “The technological nature of the side hustle as a business model may give an opportunity to increase transparency and increase the tax take.”
“GDP is notoriously backwards at picking up the value of the digital economy, but motivations for starting a side hustle are very complex and a straight measure of growth might not be the best way to capture the development of this trend.”
“The Facebooks, the Googles, the GoDaddy’s are the people who can help provide a more accurate measure of side hustle activity.”