New Survey from GoDaddy Finds 51% of Singaporeans Juggle a Side Job And Full-Time Job in The Gig Economy
New Survey from GoDaddy Finds 51% of Singaporeans Juggle a Side Job And Full-Time Job in The Gig EconomyE-commerce is the top consideration for setting up a side job in Singapore
Singapore, 14 November 2017 -- GoDaddy, the world’s largest cloud platform dedicated to small, independent ventures, today announced the findings from its new 2017 Gig Economy Survey. The survey showed that more than half of all respondents in Singapore are running a side job alongside their full-time job. Additionally, 65% of respondents who do not already have a side job, would consider one in the near future.
Asia is home to a vibrant and growing side job community, reflective of a larger trend of people wanting to pursue their entrepreneurial dreams. The survey sheds light on the entrepreneurial behavior, including motivations and how people hold side jobs alongside a full-time job, of people in Hong Kong, Singapore, and the Philippines. The survey was completed in October 2017 and covered a total of 1,500 respondents across the three markets.
The survey found that e-commerce is the number one side job pursuit in Singapore. This is being enabled by the democratization of cloud-based technology which is empowering people to pursue side jobs thanks to the ability to quickly, easily and affordably get their ideas online, acquire customers, and sell their goods online.
GoDaddy’s Vice President of APAC Region Roger Chen said: “This year’s 2017 Gig Economy Survey specifically focuses on three key Asian markets for GoDaddy. It shows how having a side job is a developing trend in Singapore, Hong Kong and the Philippines. This trend builds on the rise of the so-called ‘gig’ economy in recent years, as well as people’s desire to follow their personal passions by setting up a side job and even turn this passion into a full-time job should it prove to be successful.”
Key highlights of the survey results in the Singapore market:
- The top 3 reasons why Singaporeans want a side job/business: Increase personal wealth (67%), open themselves to new experiences (43%), follow one’s passions/interests (42%).
- E-commerce is big with Singaporeans: 66% of Singaporeans would consider setting up an e-commerce website as a side job, followed by jobs in food service and hospitality (24%), and transportation (21%).
- Social media set to become more important in securing side jobs: More than 1/3 of respondents (38%) hire freelancers through their social media profiles.
- Freelancers are becoming increasingly popular with employers: 89% of respondents who currently engage with freelancers expect more work to go to freelancers in the future.
- This is not just because they are cheaper to hire (59%), but also because of the good experiences, respondents had with freelancers. 79% of respondents rating their experience with freelancers’ services more than satisfactory.
“The results of GoDaddy’s regional survey also shows that people in all three markets have run a side job at some point, illustrating that the entrepreneurial spirit is alive and well in Hong Kong, Singapore, and the Philippines. In fact, in Singapore, most people would also prefer to start their side job online instead of opening a physical brick and mortar store, an area GoDaddy can help with. However, the survey also highlights the difficulties, including time constraints, in keeping a side job going alongside a full-time job. GoDaddy is well positioned to help here as we can ease some of the burden people face when setting up a digital presence to promote their side job online,” continued Chen.
Motivations to Holding a Side Job
For the Singapore market, the survey found that the top three reasons why Singaporeans want a side job include: increasing personal wealth (67%), opening themselves to new experiences (43%), and following one’s passions/interests (42%).
53% of Singaporeans also indicated that they would consider transforming their current side jobs to full-time jobs in the next 10 years.
E-Commerce a Key Driver for Growth in People Holding Side Jobs
In all three markets, taking advantage of the growth of e-commerce is the top consideration for people when deciding to set up a side job. Singapore ranks the highest of the three countries, with 66% of respondents choosing e-commerce over other sectors like advertising, consulting, or communications.
While side jobs are typically associated with Uber drivers and Airbnb renters, many respondents in Asia are particularly focused on starting their own e-commerce business. Now would seem like a good time to enter this domain as e-commerce in Singapore is rapidly growing, with the market showing consistent growth and average spend per user is on the up.
Another interesting finding is that the majority of Singapore respondents are inclined to try to start another business for the fun of it, should their side job be successful. This is unlike Hong Kongers, who would prefer to retire right away to live a good life.
Challenges to holding a side job
The survey showed that in all three markets, time management skills is the biggest challenge.
While technology allows employers to find freelancers more easily, freelancers, on the other hand, realized that the situation can still be challenging. 72% of respondents have experienced clients who expect to pay less for their work if they are not properly represented by a website or a professional portfolio. With more employers looking at social media profiles for recruitment, 45% of respondents felt that it is a challenge to market themselves in a way that will help make them a critical success.
Thankfully, Singaporeans display a strong ‘Can-Do’ attitude when it comes to solving problems. When Singaporeans encounter problems, more than 80% would search the Internet for solutions and attempt to solve the problems themselves.
GoDaddy has identified three key takeaways from the survey:
- Importance of building up credibility: Clients pay for quality, which in this day and age, comes in the form of a professional website or a portfolio. It is time to create a secure and credible platform to drive sales and boost your personal brand.
- Importance of digital marketing: In an increasingly crowded e-commerce space, it is crucial for Singaporeans to learn essential digital marketing skills, in order to stand out from the crowd.
- It is important for Singaporeans to explore cost-effective solutions to manage their business, such as by using a cloud-based solution which is cost effective and efficient, allowing them to get their ideas quickly, easily, and affordable online – something which in the past would require advanced technical skills, a large budget, and considerable personal time.