Sep 9, 2022Read of the weekRead of the week: entrepreneurs embrace the side hustle

At a time of financial uncertainty, economic instability, and as some big tech companies force their employees back into the office or risk losing their jobs, self-proclaimed entrepreneurs are rethinking their careers and are turning creative passions and pursuits into full-time jobs.

J’Nae PhillipsJ’Nae Phillips is a Junior Editor at Canvas8. With a background in fashion, she’s experienced in understanding how trends influence culture and play a part in shaping our human behaviour. When not working or studying for her journalism postgrad, she can be found writing for her style focused newsletter and is an avid reader.

Society is undergoing a transformation in the way people think about and approach their careers. As a result of the worldwide adoption of work from home lifestyles, and as people lost their jobs due to pandemic-related cutbacks and redundancies, many have found a way to turn their side hustles and passions into full-time gigs.

In America, 40% of people have a side hustle up from 34% in 2020, and more than 1 in 3 Americans have a side hustle or plan to start one in 2022 compared to the 1 in 4 Americans that said the same thing in 2021. Younger adults are leading the charge in the side hustle revolution, with 59% of Gen Z and 61% of Gen Y currently having a side hustle.

Coined as a new golden age of entrepreneurialism, the rise of hobbies and passions becoming full-time jobs is giving people career autonomy and a sense of independence. As workplace culture changes and traditional career paths fall out of fashion, people are finding creative ways to restore their work-life balance and embrace the changing nature of work.

Stay on top of the latest insights with Keeping TABS, our free newsletter