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Business Daily

When to Pursue your Dream

Business Daily

BBC

Business

4.4816 Ratings

🗓️ 6 February 2019

⏱️ 19 minutes

🧾️ Download transcript

Summary

At what point should you give up your day-job to pursue your own business side-project full-time? And should governments do more to help those who want to do it?

Manuela Saragosa explores the world of the successful "side-hustler" - the closet entrepreneur who takes an after-hours pet project and turns it into a whole new business. Alexandria Wombwell-Povey gave up insurance brokerage to launch her jam-making company Cham, while Emma Jones set up the website Enterprise Nation to support such go-getters.

Meanwhile, Maddy Savage reports from Sweden, where all full-time employees have a legal right to unpaid leave in order to pursue their own start-up.

(Picture: Businesswoman looks wistful and distracted in a meeting with her colleagues; Credit: Squaredpixels/Getty Images)

Transcript

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0:00.0

Hello, I'm Manuela Saragossa. Welcome to Business Daily from the BBC. Coming up, a generation of side hustlers, people who work on their own projects alongside their day job.

0:12.4

So I had the idea whilst I was working in insurance and just used all my evenings, my lunch breaks, my weekends.

0:19.9

I knew it sounded strange that I was a broker and I wanted

0:22.6

to go off and make jam. So I was totally up for laughing about it. Alex there made a business

0:27.7

from her side hustle. Should governments do more to lend a helping hand? They do in Sweden.

0:33.3

People don't think that you're crazy quitting your job because you still have the opportunity

0:38.2

to go back.

0:39.1

That's all here in Business Daily from the BBC.

0:44.6

There's evidence that a growing number of people are making an income from a side hustle alongside

0:49.9

their day job.

0:51.3

Last year, Bankrate, a US consumer financial services company, found that

0:55.9

nearly four in 10 Americans have a side hustle, informal work they do, that doesn't really qualify

1:02.0

as a job. Occasionally, these side hustles can spawn a separate career, and in just a moment,

1:07.8

we'll hear from people who've made that transition. But first, should governments help those who want to take their side hustle and turn it into a business?

1:16.5

They do in Sweden. Unpaid leave is a right there for all employees,

1:21.3

and some say it's playing a role in fueling the country's thriving startup scene.

1:26.0

Maddie Savage reports.

1:28.2

The Swedish capital has been teeming with startup innovation hubs for several years now.

1:33.7

This one, A-house, is inside Sweden's former school of architecture.

1:37.9

It's a grey, concrete 1960s block that's frequently been voted one of the city's ugliest buildings.

1:44.4

But inside, it's packed with sleek Scandinavian furniture

1:47.4

and stylish entrepreneurs working in media, fashion, food and tech.

...

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