3 of the top side hustles that have come out of COVID-19
3-minute read
If your business has been impacted by Covid-19, a side hustle could be a great way to bring in much-needed extra income or top up your emergency fund.
Key take-outs
- You could make extra money by tapping into your existing skills and know-how
- Selling goods through a global marketplace gives you instant access to millions of consumers
- It’s possible to earn a second income and still be your own boss, working only when and where it suits you
- Depending on your side hustle, there’s often free advice and support available to get you started
Side hustle 1: Share your skills and knowledge
A teaching career may not be something you’ve ever considered, but if you have subject matter expertise you could still make it work for you. Platforms like Udemy allow you to turn what you know into online video courses and market them to millions of students around the world.
In response to COVID-19, Udemy has reported a huge surge in online learning as people look for ways to upskill while staying home. Improving communication skills and developing a growth mindset have been among the priorities for workers, while many businesses have focused on courses related to remote working, decision making and stress management. They even offer an instructor service to help you create your course.
Once you have all the basics down, you could even go one step further and transition to creating and selling your courses via your own online school. Platforms like Teachable allow you to do just that and handle everything from web hosting to payment processing.
Side hustle 2: Create and sell your wares
Perhaps you have a creative hobby like jewellery making or ceramics, or you fancy taking one up. You could join the 2.8 million creators selling their handmade goods via Etsy. According to CEO Josh Silverman, the global marketplace saw twice as many shops open in April this year compared to April 2019, with many servicing COVID-related growth areas such as home furnishings, crafts, games and, of course, handmade face masks.
For those with an eye for fashion, meanwhile, an app like Depop may prove lucrative. A blend of eBay and Instagram, the social shopping platform particularly resonates with trend-loving Gen Z. Your old 80s/90s gear or vintage garments could be just what they’re looking for.
Both options charge a small selling fee but in return you’ll receive plenty of advice on how to sell, including tips on everything from photography and styling to branding.
Side hustle 3: Make the most of your wheels
Anyone with a suitable car has another potential revenue stream at their disposal. While ridesharing apps such as Uber and Ola took a big hit at the peak of the health crisis, the sector is picking up speed again with new hygiene practices in place.
Ola Australia managing director Simon Smith has reported significant growth since restrictions started to ease, led in particular by Perth. He’s also seeing a shift towards ridesharing as returning workers remain cautious about taking public transport.
In addition to driving people, you could also use your vehicle – car, scooter or bike – to take advantage of other apps like Uber Eats, Deliveroo or Airtasker.com and deliver takeaway food, groceries or the like in and around your neighbourhood.
The beauty of these side hustles is that they have a very low barrier to entry and allow you to own your schedule and work around other commitments. Whichever you choose, your earnings could give you the liquidity you need to come out stronger on the other end of the economic downturn.
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Things you should know
This article is a general overview and should be used as a guide only. We recommend that you seek independent professional advice about your specific circumstances before acting.