In South Africa, jobs are hard to come by. The unemployment rate currently stands at 34.5%, most acutely affecting people younger than 35 years.
But there is still hope for South Africa’s youth. Young South Africans are taking the entrepreneurial route to answer their problems.
Armed with smartphones, these tech-savvy entrepreneurs are finding ways to make money online using what they have at their disposal.
One of the more popular avenues is social commerce, which involves using social networking websites like Facebook, Instagram and Twitter to sell.
It is also one of the easiest ways to make money online. And with the local social commerce market expected to grow by 107.8% this year, it’s no wonder more hustle-hungry entrepreneurs are taking their side hustles online.
Here are some easy ways entrepreneurs and side hustlers are making money online and how they’re getting paid.
Facebook’s Marketplace started as a peer-to-peer selling platform, which enabled users to sell second-hand products to people nearby.
Since then, Facebook Marketplace has expanded to offer merchant services. Now, small businesses can link their e-commerce stores and sell directly to customers through Facebook Marketplace.
Still, Facebook Marketplace is a handy tool for those making their first foray into digital business. It’s a low-barrier way to make money from home with zero investment, making it easier to connect with customers, market goods and convert sales.
Facebook doesn’t facilitate the payment, but there are other options. Payment providers like iKhokha offer convenient solutions like payment links, which enable the exchange of funds without cash or a card machine.
Instagram shopping is an excellent place to start if you’re looking to sell products online.
Take a scroll through Insta and you’ll quickly notice local entrepreneurs using the platform to flaunt their creativity. Clothing, beauty products, jewellery and handmade goods are some of the top sellers. Find a way to commodify your interests and skills, and you’ll be able to start selling immediately.
The only caveat? You will need to have an Instagram or Facebook Business page. Luckily, it’s easy enough to convert your personal account if you want to make the switch.
Instagram does charge a nominal selling fee as insurance, but you won’t have to deal with refunds or returns, making it easier to get started.
Virtual service providers
Young South Africans also use their skills and interests to make money online.
The increased popularity of remote work has led to a rise in virtual services. Creators, educators and personal trainers are all making the most of this new way of working. By casting their nets further afield, these entrepreneurs can reach new clients in new cities and across international borders.
These professionals have opened new revenue channels at minimal cost by using free video conferencing tools such as Zoom and remote payment links as a convenient alternative to EFT payments.
Guesthouses and B&Bs
In 2021, South African Airbnb hosts collectively earned over R2 billion. So, it’s no surprise that renting out additional rooms in your home for short stays can be a lucrative business.
Small guesthouses, B&Bs and even homeowners have decided to cut out the middleman by marketing directly to local travellers to forego Airbnb’s 3% host fee and 14% guest fee.
Once again, payment links make the process easier. Hosts can accept deposits and guests can make upfront payments remotely to secure their booking before their stay.
While ‘influencer’ has become a buzzword, young South Africans still leverage their impressive social media followings to make money online.
So much so that Influencer Marketing Hub estimates that some influencers can make up to R10 000 for a single Instagram post.
Whether through completing promotional work with brands or selling your products and services, platforms like Instagram can be happy hunting grounds for those who have taken the time to build their audiences.
Such is the demand for influencers that there are now entire agencies dedicated to facilitating influencer marketing. However, some choose to do it alone to maximise their money-making opportunities.
Payment links are also proving to be valuable to these personal brand builders. With remote payments, these creators can continue to work and run their businesses from anywhere, giving them more flexibility.
Various payment options are available if you are interested in making money online. iKhokha is one of South Africa’s leading payment providers for small businesses and side hustlers.
Find out more about their products at www.ikhokha.com.