'The opportunities are endless': These are the tools Ontarians are using to make some extra cash
People all across Ontario are getting creative when it comes to netting a secondary income, otherwise known as a “side hustle,” and many are turning to secondhand economies thriving on online platforms.
Sylvia Booth, an Oshawa resident, recently started a business selling items on Poshmark, an app developed to buy and sell secondhand clothing and homegoods, despite holding a position at the same company for nearly 25 years.
“I've always sort of liked to make a little money on the side,” Booth told CTV News Toronto Wednesday.
“I happened to come across Poshmark and I sold something [on it] that I was having a hard time selling on Facebook Marketplace within a week,” she said.
“Then, I went through my house and started finding things, and things just kept on selling, so I ended up turning it into this lovely side business.”
At the time of publication, she says she’s sold over 3,500 items, paid off a portion of her debts and made enough money to renovate part of her home.
“It's been a wonderful addition to my life. I never expected it to be so successful.”
Toronto resident Kerone McWhinney also says virtual platforms have been essential to launching her custom decor business.
“Myself and my partner, Dylan, decided to start a business because we both wanted to supplement our income – one source of income isn't as viable of an option as it used to be,” McWhinney told CTV News Toronto Wednesday.
She says she wouldn’t have been able to launch the business if it hadn’t been for platforms like Facebook and Instagram.
“Social media has given us avenues of connecting with our target audience at little to no cost,” she said. “I don’t think we could’ve started when we did without these platforms”
A survey from Simplii Financial conducted in March 2022 found that many Canadian women are taking on “side hustles” in an effort to net a secondary source of income.
It found, of the 776 online Canadian women aged 18 and older surveyed, 90 per cent of those aged 18 to 34 are interested in exploring opportunities to earn money outside of their day job. Across all age groups, that number decreased to 76 per cent.
However, the survey also highlighted that more than one in three women (39 per cent) flagged start-up capital as a barrier to pursuing a side hustle – something virtual platforms help alleviate.
“We could have put all of our [intial] resources into building a website, it would have taken a lot more financially to get to the point at which we are now,” McWhinney said of her decision to start her business solely on social media.
Sarah Friar, CEO of NextDoor, a neighbourhood-oriented social media platform, told CTV News Toronto Thursday she’s seen a significant amount of users utilize the app to “make ends meet.”
“It’s been a huge point of engagement for our platform,” she said, noting that users are starting businesses, selling secondhand items, and looking for side gigs using the app.
“I think, as the economy gets worse, as inflation rises, this is a real need for people, but you also see people doing it with this kind of community wrapped in.”
When asked what advice she would give to those who wanted to start their own businesses online, McWhinney said that basic technical skills will help you find success online.
“You should familiarize yourself with basic marketing, editing and photography, as that will save you time and money in the long run,” she said.” And know your audience – it doesn't matter how good the quality of your work or content is if you don't know how to reach or connect with them.”
Booth says, on Poshmark at least, sellers will get out of it “what they put into it.”
“The opportunities are endless and the amount of work that you put into it will certainly pay off.”
CTVNews.ca Top Stories
BREAKING Israel attacks Iran, Reuters sources say; drones reported over Isfahan
Israel has attacked Iran, three people familiar with the matter told Reuters, as Iranian state media reported early on Friday that its forces had destroyed drones, days after Iran launched a retaliatory drone strike on Israel.
American millionaire Jonathan Lehrer denied bail after being charged with killing Canadian couple
American millionaire Jonathan Lehrer, one of two men charged in the killings of a Canadian couple in Dominica, has been denied bail.
Nearly half of China's major cities are sinking, researchers say
Nearly half of China's major cities are suffering 'moderate to severe' levels of subsidence, putting millions at risk of flooding especially as sea levels rise.
Prince Harry formally confirms he is now a U.S. resident
Prince Harry, the son of King Charles III and fifth in line to the British throne, has formally confirmed he is now a U.S. resident.
Judge says 'no evidence fully supports' murder case against Umar Zameer as jury starts deliberations
The judge presiding over the trial of a man accused of fatally running over a Toronto police officer is telling jurors the possible verdicts they may reach based on the evidence in the case.
Health Canada to change sperm donor screening rules for men who have sex with men
Health Canada will change its longstanding policy restricting gay and bisexual men from donating to sperm banks in Canada, CTV News has learned. The federal health agency has adopted a revised directive removing the ban on gay, bisexual and other men who have sex with men, effective May 8.
Colin Jost names one celebrity who is great at hosting 'Saturday Night Live'
Colin Jost, who co-anchors Saturday Night Live's 'Weekend Update,' revealed who he thinks is one of the best hosts on the show.
Sports columnist apologizes for 'oafish' comments directed at Caitlin Clark. The controversy isn't over
A male columnist has apologized for a cringeworthy moment during former University of Iowa superstar and college basketball's highest scorer Caitlin Clark's first news conference as an Indiana Fever player.
'Shopaholic' author Sophie Kinsella reveals brain cancer diagnosis
Sophie Kinsella, the best-selling author behind the 'Shopaholic' book series, has revealed that she is receiving treatment for brain cancer.