Four in 10 side hustlers want more help turning passion project into main job
Nearly two-thirds of ambitious side hustlers (65%) would love their passion project to become their main job – but 55% claim they have had little or no support to make this dream a reality, a study has found.
Over a fifth of hard workers (23%), who have already tried to scale up their side business, say they have been knocked back – with 41% wishing they had had more help.
Some of the biggest stumbling blocks have included a lack of time and resources to grow their project into their main source of income (29%), and not being able to access funding or capital to help them expand (25%).
Meanwhile, 23% worry there may not be enough demand for what they are offering, while 35% fear not having a steady income while trying to pursue their dream.
And the number of those who have faced challenges expanding their side hustle so far grows to 37% among those considered part of underrepresented communities.
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But there appears to be a sense of determination among the 1,500 people polled, who have an additional income stream – as they typically believe they can achieve their goal within the next five years. And, on average, these aspiring people have already had their side hustle up and running for three-and-a-half years.
Some of the top skills required to do so include good time management, organisation, and productivity (SWNS)The research was commissioned by Pizza Hut UK & Ireland, as part of its “New Founder Programme”, in partnership with Hatch Enterprise, which supports entrepreneurs from diverse backgrounds.
Emily Curtis, head of people operations and social purpose for the programme, said: “Britain is full of would-be entrepreneurs who just need a helping hand.
“But there are many barriers impacting entrepreneurs, and we know from our work in this area that some groups continue to be overlooked by investors.
“It is so important that everyone has the same opportunities to pursue ventures they are passionate about, and enterprises which are in demand – and, despite us beginning this journey back in 2021, the issue today remains as prevalent, if not more so, as it was back then.”
The research also found that over a third (36%) plan to seek more assistance when it comes to growing their project in the future, with the same percentage hoping for guidance to stay focused, motivated, and accountable.
And 35% of these hope additional help will enable them to develop long-term strategies, while 31% want to secure networking opportunities. A further 27% would like to have more people around them who they can address challenges and roadblocks with.
When it comes to skills, 23% of budding entrepreneurs believe brushing up on their marketing knowhow would help them take their side hustle to the next level.
However, over a third worry about not having a steady income as they pursue their business dream (SWNS)Meanwhile, 22% think that improving their time management skills would play an important role when it comes to growing their passion project. And 17% reckon finding ways to be more creative could set them apart from the competition.
The study, conducted by OnePoll.com, also found four in 10 feel they would be even more entrepreneurial if they received a more vocational education growing up. And 77% believe younger people would be more business-minded if they had real-world working experiences at a younger age.
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Emily Curtis, from Pizza Hut UK & Ireland, added: “Taking that initial leap of faith to go it alone is always going to be daunting, no matter how naturally entrepreneurial someone feels.
“We can see from the research that many haven’t had access to the support they would like to take this step, as well as recognising the skills they need to grow their side hustle.
“We hope our programme can go some way to addressing this and giving confidence to the next generation of entrepreneurs, so they can realise their dreams.
“As such, we have broadened the scope of our initial programme to include even more people who are not being considered for support, education, or investment to offer the tools and skills they need to start their businesses – including our own team members.
“Inspired by the stories of our own franchise community, we originally launched it as a way to give back to the local community, and support budding entrepreneurs from underrepresented backgrounds to start their businesses – now, our people have the chance to benefit from the programme, too.”
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