The Side Hustle Surge: Why Gen Z is Embracing Multiple Ventures

The world of work is rapidly evolving, and with it, the attitudes of Gen Z towards their careers. Unlike previous generations, Gen Z is paving its own path to success, embracing side hustles as a means to pursue their passions, gain financial independence, and adapt to the dynamic job market. In this blog, we delve into the reasons why having a side hustle is on the rise for Gen Z.

1. Financial Flexibility and Independence:

One of the primary reasons behind Gen Z’s attraction to side hustles is the pursuit of financial flexibility and independence. Burdened with student loan debts and facing an increasingly competitive job market, Gen Z seeks supplementary income streams to manage living expenses, save for the future, and reduce financial stress. Side hustles empower them to take control of their finances and create a safety net, freeing them from relying solely on traditional employment.

2. Pursuing Passions and Interests:

Gen Z is often associated with a desire for purpose-driven work and pursuing their passions. They are more inclined to prioritise personal fulfilment and work that aligns with their values. Side hustles enable them to explore their interests and turn hobbies into profitable ventures. Whether it’s starting a podcast, selling handmade crafts online, or launching a YouTube channel, side hustles offer a creative outlet and a chance to monetize their unique skills.

3. Gaining Diverse Skill Sets:

The modern job market values versatility and adaptability. Gen Z recognizes that having a diverse skill set is essential for staying competitive in an ever-changing landscape. Side hustles provide an opportunity to develop new skills and gain experience outside their primary profession. These additional skills not only boost their CV but also enhance their problem-solving abilities and broaden their perspective.

4. Embracing the Gig Economy:

Gen Z is embracing the gig economy, characterised by temporary and flexible work arrangements, and side hustles align perfectly with this trend. The gig economy offers the freedom to choose when, where, and how to work, appealing to a generation that values work-life balance and autonomy. Side hustles give Gen Z the chance to test various career paths, experiment with different industries, and determine what truly resonates with them.

5. Technological Advancements:

Growing up in the digital age, Gen Z is well-versed in technology and social media. This tech-savvy generation leverages digital platforms to start and promote their side hustles. Social media provides a cost-effective way to reach a global audience, while e-commerce platforms make it easier than ever to set up online stores. The seamless integration of technology with side hustle opportunities is a driving force behind their growing popularity.

6. Coping with Economic Uncertainty:

The global economic landscape has been volatile, with recession and job insecurity becoming more common. Gen Z witnessed the impact of economic downturns on their families during the Great Recession of 2008 and even more recently with COVID-19, influencing their career outlook. Having a side hustle acts as a safety net during tough economic times, offering an extra source of income and a sense of security.

The rising popularity of side hustles among Gen Z signifies a shift in the way young people approach work and financial stability. Fueled by a desire for financial independence, passion-driven pursuits, and the gig economy’s allure, Gen Z is redefining success on their own terms. Side hustles not only provide supplementary income but also equip them with valuable skills and an entrepreneurial mindset, essential for navigating an ever-changing job market. As Gen Z continues to embrace the side hustle culture, we can expect to see a generation of innovative and resilient young professionals shaping the future of work.

To support this, Not Going To Uni and Gen Z Talks have come together to create ‘Side Hustle Network’ which aims to empower, educate, and connect those with an entrepreneurial mindset by bringing together young founders, ambitious entrepreneurs, and employers to cultivate a supportive network for individuals engaged in side hustles.

Side Hustle Network helps young people feel inspired by the rise of the side hustle culture and also nurture employers into this community to allow them to know how best to engage with their young employees who may be involved in the side hustle world.

There are two upcoming events that you can be a part of to help launch this incredible brand and begin to raise awareness of all things side hustles and entrepreneurism.

1. Side Hustles in The Corporate World – Virtual – Thursday 14th September – 10:30am until 11:30am.
2. Me and My Side Hustle – LinkedIn HQ, Farringdon – Thursday 28th September – 6pm until 8:30pm.

Visit the website to find out more and book tickets for each event here.

Make sure you give our new LinkedIn page a follow too to stay up to date here.