Small Business Britain and eBay have announced the launch of the Side-Hustle Lab, a free six-week program starting June 4. This initiative responds to a concerning drop in small businesses in the UK, down 9% from 2020. Side-hustles have become a primary pathway to entrepreneurship, with 39% of small businesses beginning as such. The program aims to assist aspiring entrepreneurs with guidance on various business aspects, focusing on digital skills crucial for growth, especially as more individuals turn passion projects into profitable endeavors amid the cost of living crisis.
Starting a side-hustle is now the leading route into entrepreneurship in the UK, with 39% of small businesses starting as side hustles, 46% of which grow into full-time ventures.
As millions of Brits turn their passion projects into income, particularly during the cost of living crisis, we need more support for this section of the economy.
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