Seasons greetings and good vibes to you all! I do hope that everybody is keeping well.
The festive period, for many of us, represents a precious opportunity to unwind, reflect on another year passed and enjoy time with loved ones. For a growing community of small business owners, creators and side-hustlers, this is becoming increasingly tricky. That’s just not the vibe.
The latest numbers suggest that 47% of UK adults have taken on a side-hustle to bolster their income. With the cost-of-living crisis showing little sign of relenting, millions more are set to join that club. The pandemic saw Brits flocking to learn new skills, from baking and babysitting to carpentry and car washing. As a result, the economy, and the way we work has seen significant changes, and it’s high time that the infrastructure and payment systems that support it caught up.
The era of the side-hustle is undoubtedly in full swing and it has beckoned an array of welcome changes. But, flexibilities and freedoms are the hallmark of a hustler ecosystem that is increasingly characterised by burnout and stress, as much as it is by independence. New data demonstrates that 80% of those who have taken on a side-hustle to supplement their salaries, report struggles with their mental health. Withheld payments, delays, platform and processing fees erode away at incomes, creativity and free time. That’s money and time, that at this time of year, you could do with.
At VibePay, we believe that having a side-hustle mustn’t cost your well-being - especially at Christmas. Your barber, your childminder, your favourite streamer all deserve better. That’s why we also believe in a community-led focus on getting paid, without fees, fuss or delay. By revising the structures and models that currently, inadequately prop up how millions of us get paid, things can be done differently, and done better. By putting more money in the pockets of creators, sellers and side-hustlers, we can afford those people something priceless: precious time with the people who mean most. VibePay is leading that charge.
Merry Christmas 🎄