National Small Business Week, which celebrates the important contributions of entrepreneurs and small business owners across the U.S., is just around the corner. These days, an increasing number of Americans can see themselves starting ventures of their own. Young people are particularly interested: 50% percent of Gen Z aspire to become entrepreneurs or start their own businesses, according to a report from Samsung and Morning Consult.
But Americans of all ages are embracing the era of the side hustle, with 39% picking up an extra gig and 44% believing they’ll always need it to keep up with the bills, per a Bankrate survey. However, one side hustle isn’t necessarily equivalent to the next in terms of the investment of time and money — or the potential return. Although tutoring or dog-walking arranged via app can be convenient avenues for additional cash, they’re less likely to surmount the income from a typical 9-5 than a side hustle on track for small business status.
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