Recent research conducted by eBay UK discovered that Black British women are the group most likely to start a side hustle – especially in the current climate.
It found that Black entrepreneurs are more likely than other communities to spend more hours working on their businesses, and almost 1 in 5 (18%) Black adults compared to 7% of non-Black adults are studying alongside their day jobs to build their own businesses and bring in extra cash. In addition to this Black female entrepreneurs are also more likely than their counterparts to be balancing community work (17% vs 4%) with their side hustle or business.
While 38% of all UK adults say coping with the cost of living is the main reason they’ve started a side hustle or business.
The statistics highlight the business-savvy attitude of Black Brits and particularly how Black British women continue to combine their passions with creating new business opportunities, helping them to thrive amid the cost of living crisis.
However, despite these results, there is a huge disparity in the amount of money made by black female businesses in comparison to their counterparts. Black business owners and side hustlers take home a smaller percentage of their income from their side hustles or businesses compared to any other group. Less than 1 in 5 (18%) say they make 50% or more of their weekly wage from their side hustle or business, compared to more than 1 in 4 (26%) non-Black UK adults.
In research conducted earlier this year, it was found that 52% of Black women lose out by as much as £10,000 per year due to wage inequality. Taking this into consideration as well as the current climate it is no wonder that more Black female-founded businesses are on the rise.
There is still so much more that needs to be done in the UK to bridge that gender and race pay gap and you can help today by making your workplace more inclusive and diverse – setting an example and doing what is right for employees of all backgrounds, races, religions, and abilities.
Find out more about eBay UK’s research here.