Five steps to turn a side-hustle into cold, hard cash

July 11, 2026 — 5:01am

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We hardly need the stats to back up what we intuitively know, and possibly feel: the Australian minimum wage went backwards in contrast with inflation in the year to May, OECD data shows.

And guess what? We are one of only 11 countries with that dubious honour. So, it’s probably no surprise that many Aussies – even when they already have a job – are now looking to turn a side-hustle into cold, hard cash.

Indeed, nearly half of full-time employees (46 per cent) and four in 10 part-time workers (39 per cent) have a second, income-seeking gig, a new survey by e-commerce platform Omnisend found.

The vast majority – predictably – report that it’s driven by need. But interestingly, employment status matters not: money is motivating 83 per cent of full-time workers, and 82 per cent of the unemployed, to get enterprising.

And many are making decent dosh. For example, 51 per cent of even full-time workers earn more than $1000 a month from their side hustle. So, if you’re keen yourself, here are my five simple steps to starting a business.

Step 1: Know your market and target. A small business will fly or flounder based on the quality of the product. And a big part is the competitive landscape.

Where many small businesses come unstuck is failing to reserve enough money to pay their quarterly business activity statement (BAS).

So do market research – leaning into AI to help if you want – on similar existing products, their appeal and where you could gain an edge.........

© The Age