Finance4U

US citizens increasingly pursuing side jobs



US citizens increasingly take up side jobs alongside their main careers, driven by financial stress and a desire to follow personal passions. Approximately 46% of Generation Z and 37% of Millennials participate in this trend, with Generation X (33%) and Baby Boomers (26%) not far behind.

These side businesses leverage modern technology and social media in a range of activities. People find work in short-term gigs, virtual services, and social media. Some offer handmade goods, tutoring services, and freelance writing or design. The burgeoning gig economy offers various ways for workers to diversify and thrive.

Interestingly, 55% of workers don’t ask for pay raises, seeing them as temporary fixes, while 52% find it tough to secure better jobs. Nevertheless, 60% are keen to boost their professional skills to increase their incomes, and around 45% show interest in branching out into different industries to improve their career prospects.

Exploring the growth of American side businesses

Work-life balance continues to be vitally important, with 50% considering it key to job satisfaction and enhanced productivity.

Recent trends have seen US business proposals surge to 20.4 million, potentially leading to the creation of almost 1.9 million new firms across sectors such as retail, professional services, construction, and transportation. These trends hint at an economic revival and a countrywide rise of entrepreneurship. They also suggest that a boom in customized services and advances in technology could propel growth and innovation in construction and transportation, thus boosting the economy.

Prime reasons for individuals seeking additional work include job burnout and poor work-life quality. However, technology like artificial intelligence and automation tools can simplify tasks and increase productivity for budding entrepreneurs. This can help foster a healthier work-life balance and contribute to business growth while reducing burnout.

Free resources available on platforms like HubSpot, Asana, and QuickBooks provide invaluable support for aspiring entrepreneurs. These tools encompass marketing, sales, project management, expense tracking, tutorial guides, and customer support, boosting productivity and business efficiency and increasing chances of success in the entrepreneurial world.

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