Side job, because doing extra work might be a good idea

Recent research conducted by the digital bank N26 in collaboration with YouGov reveals that Italian families are the most inclined to save in Europe but it would not seem like an easy operation since only 1 in 3 has the resources needed to put money aside: the need for carry out a «side job».

But what is a side job?

A side jobs or side hustlein fact, can be translated into Italian as a secondary job or an extra activity compared to the main job: therefore an occupation that a person carries out outside of his primary job to earn additional income.

«Side jobs are experiencing an ever-increasing diffusion, driven by work flexibility digital and growing need to supplement income. The relationship Future of Jobs 2023 of the World Economic Forum finds that 23% of companies expect a significant increase in flexible roles and freelance projects in the coming years, creating fertile ground for the development of side jobs. In Europe, McKinsey highlight how the demand for specialized skills is transforming the job market: professions related to digitalat the consultancy et al support technician they represent the areas with the highest growth potential, offering workers new side job opportunities” he explains Giulia D’Amatoco-founder of Startup Geeks, while he is Dario Vignalientrepreneur and co-founder of Marketers, to add «They are becoming more and more common in the current work landscape. According to a survey conducted by Statesman in 2023, around 45% of Italians said they had at least one secondary activity in addition to your main job. This trend has been further accelerated by the pandemic, which has pushed many people to seek additional sources of income and take advantage of digital opportunities. Furthermore, an Istat study highlighted that workers with side jobs tend to develop transversal skills who can improve their position in the mainstream labor market.”

An advantageous alternative

Side jobs would no longer be just an individual solution to improve economic stability but would also reflect a structural change in the labor marketincreasingly oriented towards flexibility and innovation: «Nowadays many companies prefer delegate some activities to external freelancers. This choice is mainly motivated by economic convenience: using freelancers allows you to reduce fixed costssuch as salaries and benefits, and of adapt resources based on the needs of the project. Furthermore, collaborating with external professionals allows companies to access specific skills without having to invest in internal training» says the co-founder of Marketers.

The opportunities

And if the choice of the ideal side hustle does not only depend on market trends but also, and perhaps above all, on one’s passions and skills, it is of fundamental importance invest in continuous training to stand out in an increasingly competitive and dynamic market: but which are the sectors in which there is the most demand and what are the necessary skills?

According to Vignali, there is a large demand for activities related to online communication and sales, including copywriting And content creation, social media management, graphics And video editing And digital marketing. Giulia D’Amato, however, claims that: «Promoting products on behalf of brands through their social channels can become a profitable side job, especially for those who know how to create authentic and engaging content. Furthermore, the creation and sale of online courses, ebooks or other digital content is booming: the growth of the online learning market and the growing demand for educational content make this activity a stable source of income for those who want to monetize their skills or passions. And then there’s dropshipping allows you to sell products without physically managing inventorywhile e-commerce allows you to market handcrafted creations or personal products.”

The tax question

It is good to pay attention to the rules imposed by the tax authorities. So how should a secondary professional activity be regularised, from a tax point of view? «For those who already have an employed job and wish to start a side job, the main tax regime to consider in Italy is the flat rate regimeideal for those who foresee annual revenues of up to 85 thousand euros: offers preferential taxation with a substitute tax of 15%, reducible to 5% for the first five years of activity. It is simple to manage thanks to simplified accounting” explains Vignali. D’Amato adds: «For those who carry out occasional activities and earn less than 5 thousand euros a year, it is possible to use the formula of occasional performances: a good option for those who want to start testing a business without significant bureaucratic commitments. However, consulting an accountant is essential to understand the most advantageous solution and make sure you comply with all tax and social security regulations. Finally, another aspect not to forget before starting a second business is to check the clauses of your employment contract since some contracts include constraints or limitations on external activities, especially if they are in the same sector as the company: in these cases, it is necessary obtain authorization from the employer to avoid conflicts of interest.”

Discover new opportunities

Finding a second job may seem like a complicated undertaking, however, according to experts, with the right strategies and tools you can access a wide range of opportunities, suited to your skills and passions. For example, there are freelancing platforms like Fiverr, Upwork And Freelancers that allow you to create business announcements which can be offered or responded to requests from potential customers but also sites dedicated to work such as Remote.co, Indeed And Glassdoor. The Marketers team, however, launched the Marketers Job Board i.e. the first Italian job board dedicated to remote jobs in the marketing sectorand then there are social networks, in particular, LinkedIn dedicated to the world of work but also Instagram or Facebook which can be excellent resources for offering yourself as a freelancer, finding job offers in dedicated groups and promoting yourself.