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Ever considered taking up a side job after working hours that truly echoes the age-old Confucian proverb, ‘Do what you love, and you’ll never have to work a day in your life’?
A side hustle is not just great for people doing it, but for the local economy as well.
One individual can take on multiple responsibilities in possibly different sectors, filling up the manpower gaps needed and bolstering productivity.
It may even drive economic progress, if viewed from the lens of looking beyond GDP and headcount – but rather, employee wellbeing and satisfaction.
What else is fuelling employees’ preferences to start a side hustle in Singapore? Read on to find out!
Companies Are More Open to the Idea
While some employment contracts may specify to restrict an employee’s ability to take on side jobs, or moonlighting, companies today are taking a more open stance.
They may feel that if the side hustle does not have a clash of interest or coincide with the job, or affect an employee’s performance, they can go ahead with it.
That’s why it’s no longer surprising to see employment contracts that do not specifically indicate this clause.
Allowing employees to engage in a side job may also act as a benefit for them, resulting in greater happiness and satisfaction.
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Flexible Schedules Are Encouraging This Trend
The pandemic paved the way for working at home and flexible work schedules to become the norm. It means that employees now have greater time and flexibility to take up a side job without worrying about their full-time roles.
Why Do People Want a Side Hustle in Singapore?
Why are people taking up side hustles?
It might not always be because of the money, but for other reasons, such as pursuing a hobby, an interest, or more. Let’s look at some of these potential motivations:
Easy to Start
It doesn’t take plenty of administrative work or red tape to get your side hustle going in Singapore. There is a relatively low barrier to entry, especially with the popularity of social media.
With the ease of setting up a business in Singapore, it’s even simpler to register your side hustle and start selling your products or services.
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Allows You to Pursue Your Passion Safely
For some of us, our day jobs may not be what we feel the most excited about. A side hustle can be a way for us to pursue our passion and personal interests without sacrificing our main rice bowl.
Doing what you truly like makes it less stressful when you don’t have to worry about paying off your bills every month, particularly if you have dependents.
Financial Security
Wouldn’t you be attracted by the idea of doing what you like and earning good money for it? A side hustle gives you monetary incentives that can help to supplement your day job’s earnings.
With record-high inflation levels and the possibility of a recession, the added income is a welcomed move even if you aren’t already feeling the pinch.
You may also feel a greater sense of financial security and the flexibility to do more with the money you receive, like putting it into a retirement fund or paying off your bills.
Build Your Portfolio
Working a part-time side job is great for building your portfolio without having to commit to a full-time role. You can gain experience and find out more about the ups and downs of the job.
And if you’re thinking of switching careers in the future and making your side hustle your full-time job, you can use your experience for a competitive edge.
Gives You a Sense of Fulfilment
If your day job doesn’t make you feel like you’re making a difference or a big contribution, your side hustle could give you a sense of fulfilment and accomplishment.
Some individuals also thrive when they take on multiple jobs, fuelling their motivation to keep their work going.
A Therapeutic Break From Work
When you take up a side hustle that you enjoy, it might not feel like a job to you, but rather a leisurely activity and a break from mundane working life.
You can even see it as an opportunity to work with your friends, or to catch up with them.
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The Challenge of Managing Different Responsibilities
Of course, it’s not always easy to juggle multiple job commitments. When you take up a side hustle, you need to manage your added responsibilities and the time needed properly.
Allocate your time wisely so that you don’t feel the burnout or stress from doing what you enjoy.
What Are Some Side Hustle Ideas?
There are various types of side hustles you can engage in in Singapore with ease. Here are some possible side hustle ideas for you:
- Freelance writer
- Freelance programmer
- Home-based F&B business
- Freelance fitness instructor
- E-commerce business
- Freelance tutor
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Start Your Side Hustle in Singapore With Singapore Company Incorporation
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