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3 tips for a successful side-hustle

(NC) Whether it's selling handmade goods online or taking design jobs on the side, many aspiring business owners are easing into entrepreneurship through the gig economy. In fact, many Canadians who are thinking about starting a business are already finding creative ways to make more money.

A recent survey reveals that aspiring entrepreneurs already supplement their income with a passion project or hobby or by taking on side jobs. Some even have a side-hustle they're looking to turn into a full-time business.

Regardless of age, aspiring entrepreneurs have plenty of support, with 86 per cent of people saying they would support friends and family who are starting a business by buying their products or services.

Lori Darlington, president of small business, strategy and partnerships for business financial services at RBC, shares the following tips for anyone looking to start a side-hustle:

  1. Register your business. Whether it's a side gig or a full-time business, there are legal, tax and even branding benefits to registering or incorporating your business early on. An affordable online service like Ownr is the easiest way to make your business official and bring more credibility to your brand.
  2. Streamline finances. It's important (and easier) to keep your business and personal accounts separate from the get-go. Look for affordable business account packages that can be opened online to help you keep control of your cash.
  3. Seek out advisors and mentors. Starting a business can be both challenging and exciting, and it's important to build a network of mentors and respected advisors to support you. Seek advice and feedback from experienced professionals, such as an accountant, lawyer and successful owners.



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