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Side Hustles
Side Hustles

Here, we talk about side hustles. Help someone take charge of their finances by sharing your best side-hustle ideas. Discuss your experience with side hustles and promote useful side hustles ideas.

Hi Alex, learning how to code is always a good decision. So, kudos for that! Depending on the kind of startup you are looking to build, software development could come in handy, especially in building and testing your minimum viable product or MVP. If you are not in any particular hurry, I'd recommend dedicating the next couple of years to learning software development and validating your ideas. Talk to people about what you are building, try to see if there's demand and if there is, you can start making an actual product. Also, try to find collaborators or prospective co-founders.... (More)

This answer won 500 Koody Coins

Hi Anila,

This is a common issue but it's worth remembering you don't necessarily need a particular skill, you can just trade your time or basic skills for money.

I wrote a post on my blog laying out 21 potential side hustle ideas which may help give you some inspiration - https://theprogressionplaybook.com/21-amazing-side-hustle-ideas-to-start-making-money-from-your-sofa/18

Hope this helps,

Luke

This answer won 1,000 Koody Coins

Hi Emily,

You would prepare your accounts with a statement instead of the P/L stating that you had no transactions in the period.

You would still need to show a balance sheet which will probably show (assuming you incorporated with £1)

Assets

Debtors - £1


Equity

share capital - £1

I assume your business is a micro-entity (based on no transactions and presumably no employees)

This would mean your accounts should be prepared under the correct standard - I would check out this page (think they may have example accounts somewhere)

https://www.gov.uk/annual-accounts/microentities-small-and-dormant-companies19

Hope this helps & good luck with the... (More)