Don’t have your Nedbank ID yet?
Nedbank ID single sign-on gives you full digital access to Nedbank’s banking and lifestyle products and services on the Money app or Online Banking.
Log in
Log in to Online Banking or another one of our secured services.
Get in touch
Find us
- Login & Register
- Online Banking
- Online Share Trading
- NetBank Business
- NedFleet
- Nedbank Greenbacks
- Nedgroup Investments
- Nedbank ID
- Bank
- Accounts
- Credit cards
- Digital banking
- Switch to Nedbank
- Fraud awareness
- Forex
- Greenbacks
- Explore Bank
- Accounts
- Everyday banking
- Kids accounts
- Youth banking
- Seniors accounts
- Private Clients
- Private Wealth
- Digital wallet
- See all accounts
- Premium banking
- Get help choosing
- Goal saving
- Family Banking
- Refugees and asylum seekers
- FAQ
- How-to guides
- Discontinued accounts
- Everyday banking
- MiGoals Premium
- MiGoals Plus
- MiGoals
- Kids accounts
- MiGoals4Kids
- Youth banking
- MiGoals Premium
- MiGoals
- MiGoals Plus
- Seniors accounts
- MiGoals Premium Senior
- MiGoals Plus
- Private Clients
- Pay-as-you-use
- Young Professionals
- Private Bundle and Private One
- Private Wealth
- Private Wealth Bundle
- Digital wallet
- MobiMoney
- American Express
- Amex Gold
- Amex Platinum
- Digital banking
- Switch to Nedbank
- Fraud awareness
- Forex
- Greenbacks
- Exclusive discounts
- FAQ
- How-to guides
- Save & Invest
- Accounts
- Investment services
- Share trading
- Explore Save & Invest
- In 24 hours
- JustInvest
- PlatinumInvest
- Tax-free Savings
- MoneyTrader
- EasyAccess Fixed Deposit
- PrimeSelect
- In 32 days
- Electronic 32Day Notice
- 32Day Notice
- End of term
- Tax-free Fixed Deposit
- Electronic Fixed Deposit
- Electronic Optimum Plus
- Platinum Fixed Deposit
- Fixed Deposit
- OptimumPlus
- Investment services
- Share trading
- Borrow
- Personal loans
- Home loans
- Student loans
- Overdrafts
- Vehicle finance
- Solar finance
- Debt assistance
- Explore Borrow
- Personal loans
- Loan consolidation
- Secondhand car loan
- Home improvement loan
- Exclusive short-term loan offers
- Explore loans
- FAQ
- How to guides
- Loan consolidation
- Secondhand car loan
- Home improvement loan
- Exclusive short-term loan offers
- Home loans
- Building loan
- Switching home loan
- Repossessed properties
- Start your home buying journey
- Solar-energy Finance
- Earn R32,000 p/m or less? See offer
- HomeVision extra funds
- Home-buying Toolkit
- Managing your home loan
- Explore home loans
- FAQ
- How to guides
- Track application
- Building loan
- Switching home loan
- Repossessed properties
- Start your home buying journey
- Solar-energy Finance
- Earn R32,000 p/m or less? See offer
- HomeVision extra funds
- Home-buying Toolkit
- Managing your home loan
- Student loans
- Explore student loans
- Overdrafts
- Vehicle finance
- Solar finance
- Debt assistance
- Consolidate all your debts into a simple loan | Nedbank
- Short-term payment relief | Nedbank
- Take charge and restructure your finances | Nedbank
- Assisted-sales solutions for homes and vehicles | Nedbank
- Flexible payment plans for loans and credit | Nedbank
- Understanding how repo rate works | Nedbank
- Consolidate all your debts into a simple loan | Nedbank
- Short-term payment relief | Nedbank
- Take charge and restructure your finances | Nedbank
- Assisted-sales solutions for homes and vehicles | Nedbank
- Flexible payment plans for loans and credit | Nedbank
- Understanding how repo rate works | Nedbank
- Insure
- Life cover
- Funeral cover
- Short term insurance
- Credit Life
- Travel insurance
- Business cover
- Secure investments
- Explore Insure
- Life cover
- Get a call back
- Explore MyCover life
- Funeral cover
- Individual R10,000
- Individual R30,000
- Family Cover
- Build your own cover
- Get a call back
- Explore MyCover Funeral
- Individual R10,000
- Individual R30,000
- Family Cover
- Build your own cover
- Short term insurance
- Vehicle insurance
- Building insurance
- House contents insurance
- Valuables insurance
- Valuables insurance
- Get a call back
- Explore MyCover short term insurance
- Vehicle insurance
- Building insurance
- House contents insurance
- Valuables insurance
- Valuables insurance
- Credit Life
- Home loan credit life
- MFC Vehicle Finance Assurance
- Overdraft Assurance
- Balance Protection Plan
- Personal loan Assurance
- Get a call back
- Explore credit life
- Home loan credit life
- MFC Vehicle Finance Assurance
- Overdraft Assurance
- Balance Protection Plan
- Personal loan Assurance
- Travel insurance
- Business cover
- Secure investments
- Guaranteed Growth Income Plan
- Guaranteed Growth Plan
- Get a call back
- Explore MyCover Funeral
- Guaranteed Growth Income Plan
- Guaranteed Growth Plan
- Plan
- Financial planning
- Estate, wills & trust services
- Nedbank Private Wealth
- Speak to a financial adviser
- Explore Plan
- Financial planning
- Investment planning
- Insurance planning
- Give
- Retirement planning
- Investment planning
- Insurance planning
- Give
- Retirement planning
- Estate, wills & trust services
- Will drafting
- Ensure your estate is managed by an executor | Nedbank
- Trust services
- Financial accounting
- Tax services
- Leave the admin of your estate to us, and not to your loved ones | Nedbank
- Will drafting
- Ensure your estate is managed by an executor | Nedbank
- Trust services
- Financial accounting
- Tax services
- Leave the admin of your estate to us, and not to your loved ones | Nedbank
- Nedbank Private Wealth
- Speak to a financial adviser
- Learn
- Blog
- Explore Learn
- Blog
- Contact us
- Talk to us
- Find us
- Explore Contact us
- Talk to us
- Find us
Side hustles on the rise in South Africa
Ever considered boosting your income with a side business unrelated to your job?
Over the past decade, South Africa has seen a sharp increase in the number of people earning an income outside of formal employment. For some, the need for a self-generated income arose from falling victim to the country’s steadily rising unemployment figures.
But many people have also recognised the potential to earn a second income through an entrepreneurial venture while still employed. By reducing time-wasting daily commutes, remote jobs, hybrid workplaces and work-from-home protocols have made it easier than ever for employed individuals to operate small businesses from home in their spare time.
More than just an income generator
It’s estimated that 1 in 3 employed South Africans has a side hustle. For most of these part-time entrepreneurs, many of them young professionals, the motivation is not just about bringing in a bit of extra cash.
Their side hustle is often driven by the realisation that the changing global economy makes it possible to have multiple sources of income. In addition, a side hustle is often born of a desire to pursue a passion which may not be fulfilled by their full-time job.
The hidden benefits of side-hustling
There are many benefits to owning a side business. For one, the skills that you learn as a business owner can give you a competitive advantage in your formal career, allowing you to advance faster.
A successful side hustle can also be an excellent way of boosting your confidence and self-esteem, enabling you to enjoy more work variety, providing stimulation and opportunity for creativity, and even building valuable networks. This is especially true when these side hustles are in a completely different industry to the one in which you work full-time.
If you own a side hustle, make full use of every support opportunity available to you
Perhaps most importantly, if your side hustle develops into a successful, sustainable business, it is possible that you can also create employment opportunities for fellow South Africans, which makes you potentially a valuable contributor to the economy as well.
Digitisation is a key side-hustle enabler
The pace of digitisation across the world, driven by advancing technologies and better access to bandwidth, has also contributed to the growth of the side-hustle trend.
Technology is enabling people to work and do business anywhere. Young, tech-savvy professionals especially are leveraging this digitisation to give effect to their innovative ideas and entrepreneurial flair, develop their skills, and grow their side hustles.
Of course, starting and running a successful side hustle is no simple feat. Apart from the time pressures of operating a business alongside your day job, and the need to ensure that a side hustle doesn’t have an impact on the quality of work delivered at your full-time employment, you can put yourself at risk of burnout, add much more stress to your life, and end up spending less time with friends and family.
How to boost your side hustle
If you own a side hustle, make full use of every support opportunity available to you, particularly in terms of the non-core components of running your business, like administration, tax and banking.
Entrepreneurs should take full advantage of SimplyBiz, a free digital community powered by Nedbank for business owners, by business owners. You can set up both a personal and professional profile to connect with like-minded businesspeople.
Public and private enterprise must embrace the side-hustle culture
The importance of developing entrepreneurship requires both government and the private sector to help build a successful, sustainable small-businesses sector – and that includes the fast-growing side-hustle culture. It is important to recognise these professionals as an essential part of the economy and offer them the help, guidance and business-building solutions they need to formalise and grow their business ventures.
Given our acknowledgement of the vital role that side hustles will have to play in growing the SA economy, Nedbank offers a vast range of small-business services to help you take full advantage of your opportunities and avoid the risks and pitfalls of owning a business on the side.
These range from incubation programmes and mentorships to tailored business banking solutions like the Nedbank Startup Bundle. This start-up banking package offers businesses with an annual turnover of less than R3 million an array of free digital transactions (with no monthly cost for the first 6 months) and access to an experienced relationship banker with keen business insights to help you grow your operation.
