Side businesses have become increasingly popular among Americans, with one-third of the population engaging in a small side business to earn extra income. According to a 2024 Bankrate survey, 32% of Americans believe that having a side business is essential to staying afloat financially. The average side hustler makes $891 per month in extra income from their side business, showing that side businesses can be a lucrative source of additional funds.
Aside from the financial benefits, pursuing small side business ideas also provides individuals with the opportunity to build new skill sets and explore their entrepreneurial spirit. Entrepreneurs find satisfaction in creating a business and forging a new career path that offers greater security, especially in the face of potential layoffs.
If you’re interested in starting a side business but are unsure of where to begin, there are numerous low-investment small business ideas that you can explore. From virtual assisting to dropshipping, there are various options available for individuals looking to kick off their side business journey.
One popular side business idea is becoming a virtual assistant. Virtual assistants provide administrative support to businesses remotely, managing tasks such as scheduling appointments, arranging travel, and handling emails. Starting a virtual assistant business can be a cost-effective venture, with the potential to earn a significant income over time.
Another lucrative side business idea is usability testing. Usability testers provide feedback on websites, apps, or products to help companies improve their user experience. Platforms like UserTesting offer opportunities for individuals to earn money by participating in usability testing sessions.
Dropshipping is another popular side business model that requires minimal startup costs. With dropshipping, individuals can sell products online without holding inventory, as a third-party supplier fulfills orders on their behalf. This business model has the potential to generate consistent profits over time.
Renting out space in your home or offering consultancy services are additional side business ideas that can be pursued with minimal investment. By leveraging your existing skills and resources, you can create a successful side business that complements your full-time job.
For individuals with a passion for creativity, side business ideas like selling handmade goods, starting a clothing line, or offering art services can be rewarding ventures. These businesses allow individuals to showcase their talents and generate income from their passion.
Overall, starting a side business is a great way to diversify your income streams, build new skills, and explore your entrepreneurial potential. With the right idea and dedication, a side business can grow into a successful venture that provides financial stability and personal fulfillment.
