Having a side business not only helps you earn extra money but also helps you tide over when you lose your full-time job. There is no doubt that you can lose your job despite being in good books of your employer – they may need to downsize the company. Being unemployed is very painful and the torture mounts up when you struggle to meet all of your expenses.
Even though you have emergency cushion, you will likely fail to meet your expenses including recurring expenses unless you land a new job. You can take out loans for bad credit with no guarantor and no fees when you are unemployed, but they may prove expensive if you do not have money to pay off the debt. When you are out of work, you will have to be frugal. You can either cut down on your expenses or expand the sources of your income.
Starting a side business is a great way to have additional income. This may act as knight in the shining armour. Here are some side business ideas you can use even if you have a full-time job.
Online selling is the best way to earn extra money. It means there are a variety of things you can sell online such as photographs, crafts, jewellery and used items. If you have a passion of photography, upload it to attract a large number of potential customers. Let the public know your art and style. You may think that people will not buy your photos when a swarm of free photos are available on Google. Professional photographs are in demand provided you know the platform to display your skills. Some websites allow you to display second-hand and used furniture, tools and other items. This is a good way to earn extra money.
Provide online classes
When it comes to providing online classes, you think about a subject or language teacher. However, it is not limited to the rim of your thinking. Online classes can be on any subject. It can be grammar, cooking and knitting classes. You just have to make a tutorial and upload it on YouTube. Promote it on other social media platforms. If you have no such kind of skills, you can make a video on any subject that eases life of people such as “financial advice,” “a lecture on the increasing use of technology,” etc.
Become an egg donor
This is an easy method to earn between £3,000 and £5,000 or maybe more by donating your eggs. This is a good method for females to earn money. It can be an option if you are young and healthy. However, before you enter a programme, make sure that you are well aware of physical and emotional consequences. Egg donation programme can take three-five weeks and sometimes longer.
Start a personal blog
Starting a personal blog is a nice way to start making money. Your personal blog can be based on any particular niche such as education, travel, apparels, fashion jewellery and the like. Your personal blog should be informative. If you successfully manage to promote your blog on social media platforms, a large number of people will visit your blog. The higher the visit, the higher rank of your blog will be. You can then allow advertisements to promote products of other companies through your blog and earn money. If you do not intend to create a personal blog, you can start writing blogs for other companies and charge per word. This is quicker way to access funds than creating a personal blog when you are unemployed.
Editing and proofreading
Many people do freelance writing along with their full-time job. This may help you tide over when you lose your job. You must have an income source if you want to take out a loan for unemployed with bad credit. Writers mainly have a good command over grammar and linguistic styles. You should pursue editing and proofreading. This is more interesting task. Many companies hire freelance editors and proofreaders to examine their piece before it goes to publication. Your contribution may transform their piece worth reading as well as helping you earn extra pounds.
Tailoring and hemming is also a nice idea to start a side business. If you are not so expert at it, try to look for your friend or someone who can perfectly sew clothes. A sewing machine will not cost you a small fortune. Just buy it and take orders from people. Eventually, you will find your business going places.
The bottom line
During unemployment, you can take out loans, but you will have to show an income source. With a side business, you will be able to pay off the debt easily. In addition, you will easily meet your recurring expenses as well as unforeseen expenses.
Description: Sell items online, provide online classes on niche that you like, become an egg donor, start your own blog, edit and proofread, and sew and hem.