Latest Study Reveals: Aussies Are Keenly Turning Hobbies Into Side Hustles
Sydney, Australia, - VistaPrint's 2024 Small Business Report has just dropped, revealing a whopping 59% of Australians with hobbies are considering or have already turned them into businesses. Despite hurdles like financial constraints and a lack of marketing know-how, it seems nothing can dampen the entrepreneurial spirit down under.
Aussies Embrace Side Hustles with Open Arms
It's clear that hobbies aren't just pastimes in Australia—they're potential income streams. With 86% of Aussies engaged in hobbies and 19% looking to start new ones within the next year, the trend towards monetizing these passions is undeniable. Over a third (36%) of working Australians already have a side hustle, with more than half of these linked directly to their personal interests.
Tackling Fears and Bridging Skill Gaps
While the drive to start businesses is strong, not all is smooth sailing. A significant 38% of Aussies report a fear of failure, and over half are wary of economic uncertainty impacting their budding enterprises. Moreover, a skills shortage in branding, marketing, and design is evident, with 55% feeling they lack the necessary expertise to properly market a business.
VistaPrint's "Hobby to Hustle" Competition
To turn the tide and support Aussie hobbyists, VistaPrint has kicked off the "Hobby to Hustle" competition. They're throwing in up to $30K in VistaPrint credit and logo design to help transform hobbies into viable businesses. Marcus Marchant, CEO of VistaPrint Australia, is all in on this initiative, saying, "We’re here to bridge the gap from hobby to business, making the daunting seem doable by providing essential resources and support.”
How to Get Involved
For those ready to take the plunge, VistaPrint is asking for a two-minute video pitch explaining your hobby, your business plan, and how you intend to bring it to life. Judged by a panel of business whizzes including Marchant, media star Jules Lund, and small business advocate Alexi Boyd, the competition is a cracking chance to kickstart your entrepreneurial journey.
Entries close on 25 June 2024, so get cracking and check out the details on VistaPrint’s competition page.
