Reading time: 4th min
In recent months, the UK’s appetite for extra income has grown steadily. This is illustrated below by the increase in people searching for the term “part-time” on Google in the UK.
January 2021 saw the highest search levels for the term, almost twice as many as in the last 5 years! If this is taken as an indication of interest then we are at a peak for people looking for a side business!
The extended period of time at home, more than 10 million people and the increasing layoffs have created a “perfect storm” for people looking for security about the extra money to make in their spare time.
We’ve put together a round-up of some of the ways you can make money online.
In terms of the amount of time it takes profit from a side business to get into your bank account, few can match matched betting! With just a few clicks, you can make profit and pull it back into your bank account from the platforms to spend or save.
So what is it To let OddsMonkey Spokesman Peter Watton explains:
“In short, matched betting is the process of making real profits from the free bets that bookmakers offer to applicants.
A typical offer could be: “Bet € 10 and get a € 30 free bet”. Matched betting shows you how to wager the € 10 so you lose little or no loss and how to convert that € 30 into real profit.
So you can leave this offer with a profit of around 24 euros! Obviously there are hundreds of bookmakers in the UK with similar offers. So imagine how much profit can be made. “
One of the only things to be careful about is checking the odds of winning to make sure everything matches the instructions on OddsMonkey. So take care and reduce the risk of human error.
The obvious advantages of matched betting make it a very accessible starting point for extra income.
Dropshipping saw a real “golden era” between 2016 and 2018 when many savvy online entrepreneurs found out they could buy items from online platforms like aliexpress and ask the supplier to ship them directly to the customer – but of course, the product too mark in the sales process.
As this micro-industry exploded, certain e-commerce platforms and tools like shopify and Orbelo also exploded, making it a lot easier and more efficient to become a dropshipping entrepreneur.
The barriers to entry to dropshipping are an obvious investment of time in building a website, learning the processes, fulfillment platforms, and the cost of setting up.
If you do manage to find a “successful product,” expect sales to come in pretty quickly if you do your marketing efforts properly. However, success can be short-lived as others start selling the product and sneaking in on the same marketing channels.
One Line Summary – There’s a steep learning curve, but you can make decent profits if you start early with a product. Just expect others to quickly saturate the market.
We all know the score on paid surveys from a provider like Swagbucks or Google Rewards. Answer a survey for a set number of questions to fill out and receive either cash, points or vouchers.
Profit accumulation can be slow for the time invested, the financial reward is usually low, and while the barrier to entry is low, many find that simply time versus reward is low. Perfectly fine if you’re after a few pounds (literally) every month but don’t expect it to be a significant amount unless you spend a lot of time on it.
Low risk but low rewards and very time consuming.
More information on online surveys can be found here.
If you have in-demand skills such as content writing, digital marketing, and graphic design, then you should definitely be freelancing to stand on your side. There are some great platforms out there like Upwork or even websites like fiverr if you’re looking for short term projects.
When doing freelance work, remember that your reputation is paramount in the area in which you are freelancing. So it’s not just a simple sideline. You want to maintain a high level of service and performance in order to get more work through good feedback.
Find out more about freelancing here.
Which side business is best for you?
This is by no means an exhaustive list, but it does offer some options to help you get some extra income right now in 2021. If you want to get a few pounds with the lowest barrier to entry, surveys are a great option, but as mentioned the “fruits of your labor” will be extremely low. Matched betting has something to learn, however OddsMonkey Carry out step by step with full support. The profits are much higher than with surveys, tax-free and also ongoing.
The remaining two options are much more “serious” and time consuming. Freelancing is project-based and can become regular customers with regular “customers”. Dropshipping is arguably a “business” and not a “side business”. Time devoted to on-site activities, customer service and marketing expenses means passive or “pick up and play”.
Hopefully, if ‘Side Hustling’ has been on your to-do list for a while, we’ve highlighted a few different options that may suit your time, skills, and lifestyle in 2021.