from side hustle to sustainable business

Building a business that lasts — through collaboration, balance, and purpose:

From passion projects to financial lifelines, side hustles are becoming the norm as more people carve out time in their ‘five to nine’. It’s a trend that’s accelerating globally, with the gig and side hustle economy estimated at more than $500 billion.

Predictions are that the future of work will see us all engaging in a portfolio of roles, in place of single career employment. Whether or not it is intended to be the stepping stone to a bigger business plan or simply for long term security, nearly half of Brits (43%) now run a side hustle alongside their main job, with Gen Z leading the way at 68%.

And for women, a side hustle can be much more than extra income — it’s often a way to take control of how, when, and where they work, particularly at key life stages. One research project shows women making up 46% of the UK’s freelance workforce, with 15% juggling self-employment alongside motherhood. Many are seeking greater flexibility: 63% cite control over their hours as a key driver, 56% value choosing where to work, and 55% prioritise better work-life balance.

While women may choose side hustles for flexibility, the largest share are working in professional and technical roles (23%), showing that these roles are a serious, skilled career move. But moving beyond that side-hustle into a long term, sustainable business, whether as a solopreneur or as an aspiring small business leader, demands skills, structure, and support.

The shift in gears is tough, the start of a muti-dimensional journey, especially for women who often juggle professional aspirations with family responsibilities, and a desire for purposeful work. For while financial stability is a key objective, true sustainability involves far more than just making more sales. It’s about sustainability in every sense: financial, personal, and professional. Aligning your business with personal values, integrating it seamlessly into your life, while also contributing positively to society, can deliver added value on all fronts.

Taking the leap is always easier in company. A Harvard Business Review study found that women in business benefit significantly from ‘inner circles’ of professional peers

The shift from doing to leading

When running a side hustle, you’re doing everything yourself, but the model is usually relatively simple. But as a business grows, the role has to evolve from ‘doing the work’ to ‘leading the business’ and engaging in product or service creation, customer service, marketing, admin, finance. Even if the intention is to employ specialists and grow a team, at start-up it means developing new skills in strategy, planning, and financial management.

And whether or not you are going to employ specialists or freelancers to fill the gaps, you need to know how to lead. Research by Enterprise Nation found that women-owned small businesses in the UK are more likely to cite a lack of confidence in business skills, especially around finance and scaling, compared to their male counterparts. But the challenge isn’t just about knowledge; it’s about mindset. Moving from a spare time activity, to a structured, strategic way of running things can feel like a big leap. The vulnerability when something probably feels like a ‘make it or fail’ scenario on every count, particularly when it’s financial or reputational, can be hard to navigate.

Skill gaps: learning as you grow

A key factor in long-term sustainability is recognising where you need to upskill. Whether it’s understanding cash flow, pricing for profit rather than affordability, or getting comfortable with sales, identifying gaps early can make the difference between getting stuck and moving forward.

One such major hurdle could be marketing — many side hustlers rely on word of mouth or their social media circles, but scaling requires a deeper understanding of brand positioning, messaging, and customer retention.

Soft skills can also be important. A 2023 report from the British Business Bank found that while women-led businesses are just as innovative as those led by men, they are less likely to seek, or secure, external funding or investment: less than two per cent of venture funding in the UK goes to women-led start-ups. That often comes down to confidence in pitching and negotiation, yet these are skills that can be learned and strengthened.

If you’re toe-dipping in your five-to-nine time, and thinking the water is maybe just too cold to dive right in, perhaps you need to find a fellow swimmer…

The power of collaboration

One of the biggest challenges in moving from a solo side gig to a sustainable business is that it can be isolating. You may be losing the built-in support of a workplace, the exchange of ideas, and sometimes even a sense of accountability. That’s where collaboration comes in — not just in formal partnerships but in peer networks, co-working, and knowledge-sharing.

A Harvard Business Review study found that women in business benefit significantly from ‘inner circles’ of professional peers, leading to better business opportunities and higher revenue. Building a personal advisory board of fellow collaborators and accountability partners may be a defining factor in your future success. Having people to brainstorm with, sense-check ideas, or even just remind you to ‘do the thing’ can make a huge difference.

Another factor that may benefit from this style of group-talk is pricing and gaining confidence in what is achievable. Women are still underselling themselves when it comes to pricing their freelance and side hustle work. Research consistently shows a gender pay gap that extends into self-employment, even when controlling for factors like industry, experience, and education. Studies on freelance platforms reveal that women often set lower rates than men for equivalent work. This may be due to a lack of confidence in their value or a perception that they need to undercut competitors to win business, but while strategic pricing can play a role in building early momentum, it’s essential to have a plan for raising rates over time.

A clear strategy, whether that’s increasing prices after securing a set number of clients or gaining a specific qualification, can help ensure a side hustle is sustainable and rewarding rather than an underpaid extension of the gender pay gap.

Sustainability beyond profit

While financial reward is an important factor in developing a viable business model, true sustainability isn’t just about monetary success; it’s about building a business that fits your life. That means thinking about work-life balance early on, ensuring your pricing model supports the hours you want to work, and creating a structure that doesn’t rely on you doing everything forever.

It’s also about purpose: personally and socially. Many successful women-led businesses don’t just exist for financial gain — they contribute to communities, champion causes, or create opportunities for others. And what goes around comes around: businesses with a strong purpose often attract loyal customers, better partnerships, and unexpected opportunities.

And remember, building a sustainable business isn’t about doing it all alone. Whether it’s finding the right learning opportunities, tapping into a network of like-minded professionals, or collaborating on shared goals, having the right support can make all the difference.

Resources:

Self employment research: IPSE

Gender pay gap persists in freelance work : CNBC.

At Lumin, we believe in the power of collaboration and shared knowledge. That’s why we’re working to create a trusted space where women solopreneurs can connect, share experiences, and access the collective wisdom of a multi-generational network. Whether you’re just starting out or pivoting into new opportunities later in your career, we’re here to support your journey.

Stay tuned as we continue shaping our vision for a collaborative, empowering community designed by and for women who want to build their businesses together. Keep updated and inspired : let us know you’re interested

#Solopreneurs #WomenInBusiness #Entrepreneurship #WomenSupportingWomen #SmallBusinessTips #CollaborativeEntrepreneurship #WomenMentoringWomen

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Editorial from our writers and contributors towards our common goal: raising awareness of the issues that matter to women who want to drive greater success for all, in the world of work and in business

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