New report from Utility Warehouse and Cebr reveals people can earn up to £10k per year through a side-hustles and second jobs< Back to Newsroom
37% of people in South West England are Miis (Multi-income individuals), equating to 1,752,481 adults
People in the South West make up 9% of the national Mii population of 20 million
Miis are helping to power UK growth and delivered a £30bn boost to the economy last year thanks to extra earnings. But 16% of Miis in South West England think there’s a stigma attached to having more than one income and 22% don’t want to talk it about with family or friends
Utility Warehouse (UW) collaborated with the Centre for Economics and Business Research (Cebr) on a major new report exploring the economic impact of Miis
7th June 2023 -New figures show that 37% of adults in South West England are Multi-income individuals (‘Miis’), according to a major new report released today. Those who live in the South West of England make up 9% of the 20 million Miis across the UK who can earn almost £10k a year through a side-hustle or second job to supplement their main salary.
On average, Miis earn an extra £780 per month through their secondary income stream. However, the report from UW and Cebr identified the need to break down the stigma associated with multiple income streams.
22% of Miis in South West England said they don’t talk about their additional income with family or friends, with 27% believing people will assume they are struggling with money.
Despite this, Miis are helping to power the UK economy and last year spent £55 billion of their extra income on UK businesses - supporting more than 364,000 jobs to deliver a £30 billion boost to the nation’s coffers.
Reasons for people in South West England earning an additional source of income vary, but rising household bills and the cost of living crisis are the main factors, 36% and 37% respectively, while 17% of people cited the Covid-19 pandemic and 14% fear of a recession.
UW wants to increase people’s understanding of why people become a Mii and help break down the barriers that prevent more people from earning an extra income. It has 60,000 Partners in all corners of the country and its word-of-mouth opportunity has enabled tens of thousands of people over the last 25 years to earn an extra income around their main job or other commitments.
Andrew Lindsay, Co-CEO of Utility Warehouse, said: “Millions of people across the UK are turning to side-hustles or second jobs to make ends meet in the current cost of living crisis. We think these people - Miis - deserve greater recognition. They contribute billions of pounds to the economy through their extra work, but despite this, there’s a stigma attached to having more than one income and people don't want to talk about it - even with family or friends. We want to challenge these preconceptions so people with multiple incomes can continue to help power growth and opportunity across the UK.”
Heather Cocks, a UW Partner based in St. Austell said: “When I joined, I initially joined for the UW Cashback Card. But then I saw the potential to help me plan for retirement. I didn’t have a pension at the time and my aim was to build my retirement plan. And UW Has helped me do this. Other incomes aren’t so secure and I like how flexible this can be. I can do as much or as little as I choose and the residual income continues to pay month to month.”
Owen Good, Head of Economic Advisory, Cebr, said: “To our knowledge, this is the first and most detailed report of its kind, and provides significant insight into people who earn an extra income. Our research demonstrates the breadth and scale of these individuals across the UK, along with the associated economic contribution of this group. Over 20 million people across the UK have a secondary income and this figure is set to grow even further in the coming years. This provides a very significant boost for UK businesses, supporting.”
The report is based on a detailed survey of 10,000 people who earn a second income from a wide range of sources from Airbnb hosts and bartenders to Ebay sellers and film extras, as well as UW Partners.