As inflation rises, more Americans start side businesses

As inflation rises, more Americans start side businesses


More American workers are engaging in side businesses to supplement their income and lessen the effects of skyrocketing prices. Others, though, see it as an opportunity to follow their passion.

Alejandro Chavarria, a citizen of Miami, Florida, who works as a bartender, spends most of his leisure time developing a budding profession in photography.

“I have a job in a bar with considerable flexibility. Since they’re only open for supper, I spend a significant portion of my free time and days off focusing on my photography,” he spoke to CBS News.

I relish every moment spent capturing pictures, printing them, and handling ink.

It both satisfies his creative urge and assists him in maintaining his standard of living. According to data from CoreLogic, a source of real estate research, the average rent in the area has increased to more than $2,400.

According to a McKinsey & Company survey conducted in August, 36% of employed workers—or around 58 million Americans—describe themselves as independent workers who either work freelance or in short-term jobs.

This is an increase from the 27% of employed people who worked in the so-called gig economy in 2016.

Erin Welsh, a legal intern and law student, performs music on the weekends and at nights to help pay for her education and save money for her approaching wedding.

She acknowledged that the extra job interferes with her social life but insisted that it is required in order to pay the bills.

“On Fridays and Saturdays, most people hire live music, and even for events like weddings, having an acoustic artist play during a cocktail hour is very popular right now.

Consequently, accepting those types of gigs is how you can sort of make ends meet “She spoke.

Pamela Ortiz, a makeup artist and recent graduate of a pre-med college, has started her own cosmetics company while considering a career in dermatology. Her little company was born out of need.

One summer, Ortiz says, “I came out in hives and I was going to all these dermatologists and I couldn’t figure out what was going on.

Honestly, I was like, ‘Let me just take matters into my own hands and just do it,’” I began experimenting in my aunt’s kitchen, and my friends pushed me to market this.

She was asked if she’d ever trade owning her own company for more conventional labour, and her answer was short.

“I dislike being given instructions. I enjoy the flexibility and independence “She spoke.


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