Across Ontario, people are getting creative when it comes to earning a side income, otherwise known as the “side hustle,” and many are turning to the second-hand economies thriving on online platforms. line.
Oshawa resident Sylvia Booth recently started a business selling items on Poshmark, an app developed to buy and sell second-hand clothes and household items, though she held a position at the same company for almost 25 years.
“I’ve always liked to make a little bit of money on the side,” Booth told CTV News Toronto on Wednesday.
“I came across Poshmark and sold something [on it] that I was struggling to sell on Facebook Marketplace in a week,” she said.
“Then I went to my house and started finding things, and things kept selling, so I ended up doing this nice side business of it.”
As of press time, she says she has sold more than 3,500 items, paid off some of her debts and made enough money to renovate part of her home.
“It has been a wonderful addition to my life. I did not expect such success. »
Toronto resident Kerone McWhinney also says virtual platforms were key to launching her custom decorating business.
“Myself and my partner, Dylan, decided to start a business because we both wanted to supplement our income – a source of income is not as viable an option as it used to be,” McWhinney told CTV News. Toronto Wednesday.
She says she couldn’t have started the business if it weren’t for platforms like Facebook and Instagram.
“Social media has given us ways to connect with our target audience at little or no cost,” she said. “I don’t think we could have started without these platforms”
A Simplii Financial survey conducted in March 2022 found that many Canadian women engage in “side hustles” in an effort to secure a secondary source of income.
He revealed that of the 776 online Canadian women aged 18 and over surveyed, 90% of those between the ages of 18 and 34 are interested in exploring opportunities to earn money outside of their day job. Across all age groups, that number fell to 76%.
However, the survey also found that more than one in three women (39%) reported start-up capital as a barrier to pursuing a side hustle – which virtual platforms help alleviate.
“We could have put all our [intial] resources to build a website, it would have taken a lot more money to get to where we are now,” McWhinney said of his decision to start his business solely on social media.
Sarah Friar, CEO of NextDoor, a neighborhood-focused social media platform, told CTV News Toronto on Thursday that she’s seen a significant number of users using the app to “make ends meet.”
“It’s been a huge engagement point for our platform,” she said, noting that users are starting businesses, selling used items and looking for side gigs using the app.
“I think as the economy gets worse, as inflation goes up, that’s a real need for people, but you also see people doing it with that kind of community.”
When asked what advice she would give to those looking to start their own online business, McWhinney said basic technical skills will help you succeed online.
“You should familiarize yourself with basic marketing, editing and photography because it will save you time and money in the long run,” she said. And know your audience – it doesn’t matter how good your work or content is if you don’t know how to reach them or connect with them.
Booth says that on Poshmark at least, sellers will get out “what they put in”.
“The opportunities are endless and the amount of work you put in will definitely pay off.”