Economy
Startup On A Budget? Side Hustles To Boost Your Cash Flow
The entrepreneurial spirit burns bright in many, but a common hurdle stands in the way: funding. Bootstrapping a business or relying on personal savings and limited resources can feel like building a rocket ship out of cardboard.
Statistics from SCORE reveal that a whopping 28% of small businesses fail within the first year, and lack of funding is a major culprit.
But fear not, aspiring entrepreneur! The world of side hustles offers a powerful solution. A side hustle is a secondary income stream you can build alongside your main job.
This isn’t just about making a few extra bucks for that weekend getaway. Side hustles, when chosen strategically, can be the launchpad for your dream business.
For this, you have to validate your area, build your skills and network, and find your startup. Stay with us and learn about the top side hustles to try as an entrepreneur.
So, you’ve chosen to explore the exciting world of side hustles! But with so many options and the realities of daily life, how do you ensure your side hustle thrives and fuels your startup dreams?
Tips for Success With 4 Side Hustle
So, you’ve chosen to know about the side hustle options you have as an entrepreneur.! But with so many options and the realities of daily life, how do you ensure your side hustle is growing and helping your startup dreams?
The Perfect Side Hustle Match
Know Your Strengths – Take a skills inventory. Are you a whiz with graphic design software? A coding maestro? Using your existing skills minimizes the learning curve and maximizes efficiency.
Passion Projects Pay Off – Consider your interests. Do you love baking intricate cakes? Perhaps a custom cake side hustle is a perfect fit! Aligning your hustle with your passions makes it more enjoyable and sustainable.
Time Management is Key – Be realistic about your available hours. Can you dedicate evenings and weekends? Early mornings? Choose a side hustle that fits comfortably within your existing schedule to avoid burnout.
Your Brand & Client Base
A Compelling Online Presence – Create a website or utilize platforms like Upwork or Fiverr to showcase your skills and experience. Invest in high-quality visuals and clear messaging to establish yourself as a professional.
The Networking – Don’t underestimate the power of your network! Connect with friends, family, and former colleagues. Spread the word about your side hustle and offer referral incentives.
Competitive Rates Attract Clients – Research the market rates for your chosen side hustle. While undercutting the competition might seem tempting, offering competitive rates ensures your value is recognized and attracts high-quality clients.
Your Time & Money
- Schedule Like a Boss – Develop a realistic schedule for your side hustle. Block dedicated work hours in your calendar and treat them with the same respect as your main job.
- Track Your Hustle – Keep meticulous records of your income and expenses. Utilize accounting tools or spreadsheets to monitor profitability and identify areas for optimization.
- Minimize Expenses – Look for cost-effective ways to operate your side hustle. Explore free online tools, barter with other businesses, or utilize resources from your local library.
The 4 Common Side Hustle Ideas For Startup Owners
If you are running a startup, your main focus is building your dream business. Side hustles can provide the financial fuel and practical experience needed to reach the finish line. Here are four common categories of side hustles perfectly suited for startup founders:
Skills that Pay the Bills
Freelancing Freedom – If you possess in-demand skills like writing, editing, graphic design, or virtual assistance, freelancing platforms like Upwork or Fiverr can be a goldmine. This allows you to leverage your existing expertise for immediate income while potentially attracting future clients for your startup.
Online Tutoring or Teaching – Are you a math whiz or a language maestro? Share your knowledge! Online tutoring platforms like VIPKid or Cambly connect you with students worldwide, offering flexible hours and the potential to build a loyal student base that could translate to future customers for your startup.
Consulting Expertise – Don’t underestimate the value of your startup experience! Offer consulting services in your area of expertise to established businesses. This provides valuable income while allowing you to test your ideas and network with potential partners or investors for your startup.
Trading As A Side Hustle – If you think you have a knack for trading, then you can go for digital gold, which is cryptocurrency. As a beginner in this sector, you can opt for tools like intermagnum app to keep an eye on the market and invest in the currency that has long-term potential. Invest and forget and use the tool to check when the price of that digital gold is sky rockettimg. This is the time you sell it for a greater amount and earn thousands of dollars.
Turning Stuff Into Cash
The Sharing Economy Advantage – The sharing economy is booming! Do you have a spare room or unused storage space? Platforms like Airbnb or Neighbor allow you to rent out these underutilized assets for passive income. This can benefit location-independent startups, offering flexibility while generating revenue.
Craft Your Passion into Profit – Are you a culinary whiz or a crafting enthusiast? Sell your homemade creations online through platforms like Etsy or local farmers’ markets. This allows you to turn your passion into profit while potentially attracting a customer base that aligns with your startup’s target audience.
Declutter and De-clench – Everyone has unwanted items gathering dust. Host an online garage sale through platforms like Facebook Marketplace or local classifieds. De-cluttering your space generates income and frees up resources you can reinvest in your startup.
From Side Hustle to Startup Star
Blogging for Business Growth – Start a blog related to your startup’s niche. Share industry insights, establish yourself as a thought leader, and attract potential customers organically. This builds brand awareness for your startup while potentially generating income through advertising or affiliate marketing.
Your Startup’s Showcase – The power of video content is undeniable. Create a YouTube channel to showcase your startup’s product or service, offer tutorials or explainer videos, and connect with a wider audience. This not only promotes your side hustle but also lays the groundwork for your future startup’s marketing strategy.
Social Media Savvy – Do you have a knack for social media engagement? Offer social media management services to businesses. This allows you to hone your marketing skills while potentially attracting clients who could become future investors or partners for your startup.
Odd Jobs and Microtasks: Filling the Gaps with Flexibility
Delivery on Demand – Platforms like DoorDash or Uber Eats offer flexible delivery options for food and groceries. This can be a great way for your startup to earn extra income during off-peak hours, providing much-needed flexibility.
Be a Part of the Testing Revolution – Websites like Amazon Mechanical Turk offer microtasks like data entry, online surveys, or user testing. While the income might be modest, these tasks can be completed in short bursts, filling the gaps in your schedule.
The Helpful Handyman – Do you have a knack for fixing things? Offer handyman services through local classifieds or online platforms. This uses your existing skills for immediate income while potentially building a customer base that could translate to future business for your startup.
Summing Up
Side hustles offer options for startup owners. You can leverage your existing skills through freelancing or consulting, monetize underutilized assets by renting out space or selling creations, build an online presence with a blog or become a social media management guru, or fill free time with quick income through odd jobs.
A well-chosen side hustle can be the financial springboard your startup needs. So don’t wait; identify your strengths, explore your options, and turn your entrepreneurial vision into a thriving reality!
By Adedapo Adesanya
The United Kingdom via the British High Commission in Abuja has launched two flagship economic reform programmes – the Nigeria Economic Stability & Transformation (NEST) programme and the Nigeria Public Finance Facility (NPFF) -as part of efforts to support Nigeria’s economic reform and growth agenda.
Backed by a £12.4 million UK investment, NEST and NPFF sit at the centre of the UK-Nigeria mutual growth partnership and support Nigeria’s efforts to strengthen macroeconomic stability, improve fiscal resilience, and create a more competitive environment for investment and private-sector growth.
Speaking at the launch, Cynthia Rowe, Head of Development Cooperation at the British High Commission in Abuja, said, “These two programmes sit at the heart of our economic development cooperation with Nigeria. They reflect a shared commitment to strengthening the fundamentals that matter most for our stability, confidence, and long-term growth.”
The launch followed the inaugural meeting of the Joint UK-Nigeria Steering Committee, which endorsed the approach of both programmes and confirmed strong alignment between the UK and Nigeria on priority areas for delivery.
Representing the Government of Nigeria, Special Adviser to the President of Nigeria on Finance and the Economy, Mrs Sanyade Okoli, welcomed the collaboration, touting it as crucial to current, critical reforms.
“We welcome the United Kingdom’s support through these new programmes as a strong demonstration of our shared commitment to Nigeria’s economic stability and long-term prosperity. At a time when we are implementing critical reforms to strengthen fiscal resilience, improve macroeconomic stability, and unlock inclusive growth, this partnership will provide valuable technical support. Together, we are laying the foundation for a more resilient economy that delivers sustainable development and improved livelihoods for all Nigerians.”
On his part, Mr Jonny Baxter, British Deputy High Commissioner in Lagos, highlighted the significance of the programmes within the wider UK-Nigeria mutual growth partnership.
“NEST and NPFF are central to our shared approach to strengthening the foundations that underpin long-term economic prosperity. They sit firmly within the UK-Nigeria mutual growth partnership.”
By Aduragbemi Omiyale
A strategic partnership aimed at accelerating the growth, digital capacity, and sustainability of Nigeria’s 40 million Micro, Small and Medium Enterprises (MSMEs) has been signed by MTN Nigeria and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN).
The collaboration will feature joint initiatives focused on digital inclusion, financial access, capacity building, and providing verified information for MSMEs.
With millions of small businesses depending on accurate guidance and easy-to-access support, MTN and SMEDAN say their shared platform will address gaps in communication, misinformation, and access to opportunities.
At the formal signing of the Memorandum of Understanding (MoU) on Thursday, November 27, 2025, in Lagos, the stage was set for the immediate roll-out of tools, content, and resources that will support MSMEs nationwide.
The chief operating officer of MTN Nigeria, Mr Ayham Moussa, reiterated the company’s commitment to supporting Nigeria’s economic development, stating that MSMEs are the lifeline of Nigeria’s economy.
“SMEs are the backbone of the economy and the backbone of employment in Nigeria. We are delighted to power SMEDAN’s platform and provide tools that help MSMEs reach customers, obtain funding, and access wider markets. This collaboration serves both our business and social development objectives,” he stated.
Also, the Chief Enterprise Business Officer of MTN Nigeria, Ms Lynda Saint-Nwafor, described the MoU as a tool to “meet SMEs at the point of their needs,” noting that nano, micro, small, and medium businesses each require different resources to scale.
“Some SMEs need guidance, some need resources; others need opportunities or workforce support. This platform allows them to access whatever they need. We are committed to identifying opportunities across financial inclusion, digital inclusion, and capacity building that help SMEs to scale,” she noted.
Also commenting, the Director General of SMEDAN, Mr Charles Odii, emphasised the significance of the collaboration, noting that the agency cannot meet its mandate without leveraging technology and private-sector expertise.
“We have approximately 40 million MSMEs in Nigeria, and only about 400 SMEDAN staff. We cannot fulfil our mandate without technology, data, and strong partners.
“MTN already has the infrastructure and tools to support MSMEs from payments to identity, hosting, learning, and more. With this partnership, we are confident we can achieve in a short time what would have taken years,” he disclosed.
Mr Odii highlighted that the SMEDAN-MTN collaboration would support businesses across their growth needs, guided by their four-point GROW model – Guidance, Resources, Opportunities, and Workforce Development.
He added that SMEDAN has already created over 100,000 jobs within its two-year administration and expects the partnership to significantly boost job creation, business expansion, and nationwide enterprise modernisation.
By Adedapo Adesanya
The Nigerian Exchange (NGX) Limited is seeking review of the controversial Capital Gains Tax increase, fearing it will chase away foreign investors from the country’s capital market.
Nigeria’s new tax regime, which takes effect from January 1, 2026, represents one of the most significant changes to Nigeria’s tax system in recent years.
Under the new rules, the flat 10 per cent Capital Gains Tax rate has been replaced by progressive income tax rates ranging from zero to 30 per cent, depending on an investor’s overall income or profit level while large corporate investors will see the top rate reduced to 25 per cent as part of a wider corporate tax reform.
The chief executive of NGX, Mr Jude Chiemeka, said in a Bloomberg interview in Kigali, Rwanda that there should be a “removal of the capital gains tax completely, or perhaps deferring it for five years.”
According to him, Nigeria, having a higher Capital Gains Tax, will make investors redirect asset allocation to frontier markets and “countries that have less tax.”
“From a capital flow perspective, we should be concerned because all these international portfolio managers that invest across frontier markets will certainly go to where the cost of investing is not so burdensome,” the CEO said, as per Bloomberg. “That is really the angle one will look at it from.”
Meanwhile, the policy has been defended by the chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Mr Taiwo Oyedele, who noted that the new tax will make investing in the capital market more attractive by reducing risks, promoting fairness, and simplifying compliance.
He noted that the framework allows investors to deduct legitimate costs such as brokerage fees, regulatory charges, realised capital losses, margin interest, and foreign exchange losses directly tied to investments, thereby ensuring that they are not taxed when operating at a loss.
Mr Oyedele also said the reforms introduced a more inclusive approach to taxation by exempting several categories of investors and transactions.
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