Average online side hustle earns Brits over £5k a year - with Millennials making the most

The average online side hustle is raking in £5,420 a year, according to research. A poll of 1,000 people who have a side quest found they make on average £452 per month outside of their main job. Millennials bringing in the most at £577 a month - an average of £6,923 a year. While more than three in 10 (31%) take home an extra £400 every four weeks, at least, according to the research by Royal Mail.

For 37%, their take home from their bit on the side is sometimes higher than their main salary - rising to 54% among Gen Z. With key items sold as part of their extra hustle including old clothing (44%), books (35%) accessories (31%) and tech (26%). And a further 22% make money from selling hand crafted items.

The research forms part of the Royal Mail Means Business campaign, which champions small businesses and has dedicated support for side hustlers on its Small Business Hub, including a detailed report on the nation's side businesses.

Saadi Al-Soudani, chief commercial officer at Royal Mail, said: "There's serious money to be made even if you only have a few hours a week. Whether it's selling items you no longer need or creating your own products, online marketplaces have made it easier than ever to start.

"Using parcel shops or lockers or even getting parcels picked up from your home is an easy way to ship out all the work you can be proud of."

The research also found 58% would like to develop their side hustle into their main source of income and 16% already have plans to. While 67% are confident they can scale up their small business in the next year.

While many are motivated to pursue their side hustle in order to earn extra money, a third do it fill spare time. For 51%, their extra source of income gives them an added sense of purpose in their life.

It also emerged 94% currently run their bit on the side from the comfort of their own home - selling an average of 32 items online every six months. They tend to use online marketplaces most often (54%), followed by social media (52%) and word of mouth (35%).

Two thirds find it most convenient to deliver orders to a parcel point and 35% have their dispatches collected from their home, if they do sell online.

The main challenges side hustlers face include finding enough time to work on it, staying motivated and gaining new customers. But 53% have seen their earnings increase year-on-year, according to the stats by OnePoll.

Royal Mail's Saadi Al-Soudani added: "Beginning a side hustle is a great way into becoming a fully-fledged business owner.

"You really get to know the tricks of the trade before you start up, including the best ways to streamline processes."