Australians are turning hobbies into side hustles
- Written by: The Times
VistaPrint research reveals 6-in-10 Aussies (59%) would or already have turned their hobby into a business
VistaPrint launches Hobby to Hustle competition offering $30K to help Aussies turn their hobbies into businesses
A new 2024 Small Business Report launched today by VistaPrint reveals 59% of Australians that have a hobby have considered or already have turned it into a business, despite barriers such as financial constraints and lack of marketing skills. In response, VistaPrint has launched a “Hobby to Hustle” competition, offering $30K to help Aussies turn their hobbies into legitimate businesses.
The data reveals a staggering 86% of Australians have at least one hobby, with one-in-seven (15%) having already turned those hobbies into a business, and almost half (44%) are either willing or have thought about turning their hobby into a source of income. This adds to over a third (36%) of working Australians who already have a side hustle, with over half (53%) linked to their hobbies.
Australia appears to be the perfect breeding ground for starting a business, with only 4% of working Australians having a clause in their work contract that prevents them from starting a side hustle. Not only that, but Australian society and workplaces appear to be conducive to business ideation, with over one-in-seven (15%) side hustlers and business owners having come up with their entrepreneurial idea while at their previous job, and over a quarter (28%) doing so through talking to family and friends.
Fear of failure and a marketing skills gap
Despite this enthusiasm, starting a side-hustle is still met with a healthy amount of fear and trepidation. Over a third of Australians (38%) anticipate a fear of failure when starting a business in the current landscape, and over half (54%) anticipate economic uncertainty and instability.
In addition, there appears to be a significant skills gap that currently exists, with over half (55%) of the population describing themselves as “not skilled at all” or only “slightly skilled” in branding, marketing, and design. To compound the issue, over a fifth (22%) of business owners and side hustlers don't know where to look if they need design and marketing support. This is creating a significant barrier to starting and growing a business. Marcus Marchant, CEO of VistaPrint Australia and founder of Bondi Joe Swimwear: “Australians are clearly passionate about their hobbies and are eager to turn them into legitimate businesses. Our research does, however, highlight a design and marketing skills gap and other barriers that are getting in the way of people feeling confident to start a new business. As a small business founder myself - I founded Bondi Joe Swimwear following my passion for
both fashion and the allure of Sydney’s iconic beaches - I know how rewarding it is to nurture a hobby into a successful business venture, and I’m grateful for the journey it has taken me on. I now want to help others in the same position – which is why we are today launching VistaPrint’s Hobby to Hustle campaign.”
VistaPrint launches Hobby to Hustle Competition
To support Australia’s burgeoning entrepreneurial spirit, VistaPrint’s has today launched its inaugural “Hobby to Hustle” competition to help Aussies turn their passions into thriving businesses. Participants will be in to win prizes including $15K, $9K, and $6K worth of VistaPrint credit and logo design, alongside access to and support from industry experts including CEO Marcus Marchant and former COSBOA CEO, Alexi Boyd.
All participants must do is submit a two-minute video explaining what their hobby is, why they want to turn it into a business, and how they plan to do so. The entries will be judged by a panel of respected business leaders and advocates for small businesses across Australia: former CEO of COSBOA and industry leader, Alexi Boyd; CEO of VistaPrint Australia and founder of Bondi Joe Swimwear, Marcus Marchant; and media personality and entrepreneur, Jules Lund.
The entries will be judged on a mix of criteria, including the potential for the idea to be turned into a successful business; the credibility, charisma and business potential of the entrant; and their reasoning behind wanting to start a business. Submissions are open today and close June 25th, 2024 at 6pm AEST. To learn more, visit vistaprint.com.
