Five Side Hustles for South Africans During Tough Economic Times
Johannesburg, 05 September 2024 – Statistics South Africa (Stats SA) Quarterly Labour Force Survey (QLFS) reports that unemployment rose by 330,000 to 8.2 million in the first quarter of 2024, prompting many South Africans to turn to side hustles for extra income.
The same data also revealed that, according to current data, one in three Gen Z members, aged 7 to 27, are engaged in side hustles, with around 4 million South Africans holding multiple jobs. Globally, 12% of the workforce participates in the online gig economy, growing three times faster than traditional job sectors.
Here are five viable side hustles that South Africans can pursue during these tough economic times:
Freelance Digital Services: As businesses transition online, there is a growing demand for digital services such as graphic design, content creation, and social media management. Platforms like Upwork and Fiverr allow individuals with skills in these areas to connect with clients worldwide and earn a steady income from the comfort of their homes.
Online Tutoring: With the education sector increasingly moving online, tutors are in strong demand, particularly in subjects like mathematics, science, and languages. Whether you’re a seasoned teacher or simply knowledgeable in a particular topic, platforms such as Teach Me 2, and iTalki enable South Africans to earn money by offering tutoring services to students locally and internationally.
E-Commerce and Dropshipping: The rise of online shopping presents an opportunity for entrepreneurs to sell products without needing a physical store. Dropshipping, in particular, allows you to sell products without holding any inventory, making it a low-risk business model. Websites like Shopify and WooCommerce make it easier to set up an online store and start selling products to a global audience.
Ride-Hailing with Bolt: Becoming a Bolt driver-partner is a great way to generate extra income. Bolt offers drivers the flexibility to choose when to drive, which fits into their lifestyle whether they have a 9 – 5 job, are a student or are raising their children. With Bolt operating in 23 cities in South Africa, it makes it easy for anyone with a car to join and start earning. Drivers can choose to operate on Bolt Send, a same-day parcel delivery option or transport customers on either the Bolt X, Bolt Lite, Go sedan, Premium or Go hatch.
Content Creation and Monetization: With the explosion of digital content, platforms like YouTube and Instagram offer opportunities for individuals to monetise their creativity. Through video blogs, photography, or educational content, creators can earn money through ad revenue, sponsorships, and merchandise sales.
These side hustles provide a way to earn extra income and offer South Africans the flexibility to work on their own terms. In economic uncertainty, diversifying income streams has become more critical than ever. By tapping into these opportunities, South Africans can better navigate today’s financial challenges.