Additional Income Streams to consider in South Africa
Now more than ever, the need to secure yourself financially is of great importance. The ideal starting point is having an emergency savings fund of 3 - 6 months of living expenses but on the flip side, being able to find and generate additional income streams, a side hustle as commonly known. For some, coming up with ideas that can generate revenue is easy but for the most part, several of the options will involve effort, consistency, and patience.
“South Africa's unemployment rate rose to 32.5% in the fourth quarter of 2020 from 30.8% in the previous period. It was the highest jobless rate since quarterly data became available in 2008, with more people entering the labor market and actively looking for jobs.” TradingEconomics.com. With this in mind, people have had to be creative and find alternative ways to generate income in the current climate. Fortunately, there are opportunities elsewhere but begin with identifying skills and talents you already possess that you can leverage and identify the quickest route to market with minimal resources.
Refer candidates for open job positions
More often than not, companies have an internal employee referral program, whereby you refer or share a candidate suitable for a job role. Upon their successful placement (i.e they are hired), you get paid for referring them, with the referral payment usually made after the candidate’s first completed month on the job (the terms and conditions of this may differ across companies).
External companies such as recruitment companies or other, may also offer a referral fee for recommending suitable candidates to fill open job positions, often posted on LinkedIn. Such roles tend to be occupations in high demand (OIHD) or critical skill, implying finding the appropriate candidate with the full skillset is scarce, hence the referral fee offer. Information Technology (IT) sector is the highest in demand in South Africa and some roles offer a referral fee of R25 000 for a position such as Senior Mobile IOS Developer.
Whether virtually or in person, you can share anything of interest as an Airbnb experience. There is a broad range of what can be offered including food & drinks, art & culture, nature, outdoor adventures, etc. Anything that you can offer with a unique flair is suitable, provided it fits Airbnb’s regulations. Experiences currently offered from a South Africa perspective include surfing lessons at Muizenburg, guided hike on Table Moutain or Lion’s Head, street photoshoot in Maboneng Precinct and so much more. Airbnb provides the guidelines and support to help offer the best to your patrons, and ensure you succeed on the platform. Airbnb charges a 20% service fee for experiences but it does not charge any service fees for social impact experiences - 100% of social impact proceeds go to a nonprofit.
South Africa’s very own marketplace to sell new and used items. It is a secure platform, protecting the buyer and seller transactions as Yaga mediates the payments, which are paid into your South African bank account once the buyer marks the sale as completed There are options for delivery including Aramex store to door and Pep’s delivery service Paxi. You can make use of the platform to sell goods such as clothes, shoes, hair and wigs, accessories but be sure that the products you sell do comply with the delivery company’s policy regarding transportable goods i.e. no liquids or breakable items. Listing your item is free and Yaga charges a 9% transaction fee per sale.
Similar to Yaga however, Etsy is a global marketplace, enabling you to reach a wider audience. The platform is mostly known for handcrafted arts and collectibles although clothing jewelry, vintage, toys, home, and living items are sold. There is a listing fee of R2,98 and listings are active for four months, or until they sell. Etsy charges 5% as a transaction fee and 4.5% + R8,00 payment processing fee, with Paypal being the common choice to receive payments for South African sellers.
Driver / Driver Partner
Have a scooter, motorbike, or light vehicle? You can become a part-time or full-time driver for Mr D, Takealot, or Superbalist. Opportunities are available nationwide.
Other avenues to explore as a driver with the ability to potentially choose your own working hours and some may not require you to have your own vehicle:
Meal prepping / Cooking
As people become busier, they have less time on their hands to think about the food and the preparation work that goes into it. One thing you are guaranteed is that people will get hungry and need to eat. As long as you can make good quality food at a decent price point, the customers will come. Advertise and showcase what you make, especially using social media, to draw the customers to you. Meals to go or prepared meals is a growing sector in South Africa, tap into the opportunities opening up in it using this detailed approach.
Sell your photographs
Color Space is a platform offering authentic & royalty-free stock photos. You can set up a profile, upload images, and if they are selected by the platform, get paid for them. These images are then available to other users to make use of.
Freelancing
There are a plethora of freelancing sites you can use to offer your skills and expertise globally. These sites are dedicated to helping you find work and connect you to people looking to get this work done. It begins with creating your profile that showcases what you do and applying for jobs on these sites. Once you have been selected and complete the job, the payment goes into the site’s account, which you can then withdraw, mostly paid to Paypal. Some withdrawals can either be done based on a minimum amount e.g. $100 or set time periods e.g. every 2 weeks. These terms and conditions are always stated on the websites, take the time to read them or the frequently asked questions (FAQ).
Top freelance sites:
Fiverr Upwork
Freelancer PeoplePerHour
NomadNow NoSweat Work
FlexJobs We Work Remote
This list of Top 30 In-Demand Freelance Skills to Learn in 2023 which includes Website Design, Writing, Graphic Design, Search Engine Optimization (SEO), Excel Management, Social Media Marketing, Translation, Tutoring, Mobile App Development, and more clearly indicates the room to enter the freelance landscape and use it to build your income stream or the potential for self-employment.
Teach English online
Commonly sought after is teaching online/online tutoring/teaching English online There are many sites you can sign up on to become a tutor, locally or internationally, such as TEFL Universal, Brightsparkz, Cambly, etc. Some will often require you to have a Test of English as a Foreign Language (TOEFL) as part of their requirements to teach on their platform.
As always, do your own research to find the sites that will suit what you are looking for as well as watching Youtube videos of people sharing their experience with the various sites. Here is Zandile Ngobeni’s video to provide an overview of teaching English online.
Content Creation & Social Media Influencing
Creating exclusive content and having a niche and audience is another avenue to explore, which can then translate to brand partnerships and sponsorships depending on the platform of choice. Some of the more popular platforms for creators are:
OnlyFans - mostly known for adult content, however, that is not the only use of the platform. If you have a skill that others can pay exclusively for through subscriptions eg makeup, photography, graphic design, fitness, etc, you can use OnlyFans.
Youtube - find a niche/subject matter for your content and film away. As you gain views and subscribers, you can then look to monetize the channel. YouTube Partner Program (YPP) allows creators to monetize eligible content on YouTube. To be reviewed for the YouTube Partner Program, channels need at least 4,000 watch hours in the previous 12 months and 1,000 subscribers. Even without YPP, brand sponsorships can be another avenue to generate income based on your channel.
Patreon - on Patreon, you can let your fans become active participants in the work they love by offering them a monthly membership. You give them access to exclusive content, community, and insight into your creative process. In exchange, you get the freedom to do your best work, and the stability you need to build an independent creative career.
Opera News Hub - write and publish your articles for free, which can be read by a global audience and get paid based on engagement - clicks and shares on your article. Content is posted on the dedicated Opera News Hub site but can be shared to other social media platforms.
Website/Blogging - having a dedicated website still has its merits, as the content can be evergreen - a topic that's always relevant to readers. The only difference to the options listed above is that the content is in written form. Through a website or blog, income can be generated through Google Adsense, affiliate links, or brand sponsorships. Common platforms to consider setting up your website with include Wordpress.com, Wix, or Squarespace and web hosting & domain purchase with Bluehost or GoDaddy. Do add Grammarly on your browser to assist with proofreading and editing for your writing.
Additional platforms you can monetize are the popular social media platforms such as Facebook, Instagram, Twitter and Tiktok. According to Humanz Instagram influencer marketing statistics and benchmarks in South Africa for Q3 2020, 85% of marketers say engagement is their primary KPI for influencers. Influencers with smaller followings have higher engagement ratios and the top categories are fitness, sports, and fashion. With 25 040 000 Facebook users in South Africa in February 2021, which accounted for 42.1% of its entire population and 5 537 000 Instagram users in South Africa in February 2021, which accounted for 9.3% of its entire population The majority of them were women - 53.8%. It, therefore makes sense to tap into the audience using these platforms on a daily.
If you are interested in specific influencer marketing platforms for brand campaigns to work on, look into:
Affiliate Marketing is using a dedicated or unique link offered by a brand to promote a product or service they offer. You earn income, either as a percentage or a fixed value based on certain criteria e.g. sales, signups, clicks, etc. Some brands have affiliate signups available on their site, others use dedicated advertising companies or networks where brands and publishers collide, a marketplace for affiliate marketing. Such companies include:
As indicated, there are quite a few options you can consider as an additional income stream, and after setting the foundation and building an audience, convert this into passive income.
