Survey finds that the majority of Canadian women are interested in starting a side hustle

A recent survey by Simplii Financial finds that 9 out of 10 women aged 18-34 are interested in exploring other sources of income

TORONTO, March 3, 2022 /CNW/ – ‘Side hustling’ is on the minds of many Canadian women, according to a recent survey by Simplii Financial™. Survey findings revealed that 90 per cent of Canadian women aged 18 to 34 are interested in exploring opportunities to earn money outside of their day job. Across all age groups, 76 per cent of Canadian women are interested in starting a side hustle. This is why the digital banking brand will be hosting the #SimpliiSideHustle panel this International Women’s Day.

The side hustle survey, conducted by Angus Reid for Simplii, also revealed the following: Photo: Survey findings are from a survey conducted from February 4th to February 6th, 2022 among a representative sample of 776 online Canadian women aged 18 and older who are members of the Angus Reid Forum. (CNW Group/Simplii Financial) Photo: #SimpliiSidehustle Panelist Abby Albino, Co-Founder of sneaker boutique Makeway (Toronto), Photo Credit: Elaine Fancy of Ripple (CNW Group/Simplii Financial) Women aged 18-34 are considering side hustles as an alternative income stream, hoping to find new ways to save for major life events including:

Early retirement (30 per cent);

Making a down payment on a home (36 per cent); and

Growing overall savings for future needs and plans (70 per cent).

More than one (1) in three (3) women (39 per cent) indicated that start-up capital is a barrier to pursuing a side hustle, which increased to nearly 50 per cent (46 per cent) among those aged 18 to 34.

This International Women’s Day (Tuesday, March 8th), Simplii will bring together a panel of barrier-breaking Canadian women who have launched successful businesses, to offer their advice to those looking to start side hustles of their own. Members of the public are invited to attend the virtual panel by registering for tickets at https://bit.ly/SimpliiSideHustle.

“At Simplii we know that making digital banking convenient and accessible to Canadian women supports financial independence and empowerment,” said Rohini Dhowan, Senior Director, Deposits and Investing, Simplii Financial. “This is why as we approach International Women’s Day (IWD), we want to provide a forum for women, no matter where they are on their financial or side hustle journeys, to learn from one another. By starting with the basics, like Simplii’s no-fee chequing account, which eliminates the stress of maintaining a minimum balance, and a high-interest savings account, to encourage everyday savings habits, you can slowly build to your dream,” said Dhowan .

The #SimpliiSideHustle panel, featuring Canadian entrepreneurs Abby Albino, Avery Francis, and Zehra Allibhai, will share the challenges they faced in starting their sneaker, consulting and fitness businesses, respectively. They’ll also share how they’ve challenged gender stereotypes that disempower women, to support a more equitable future.

“We were tired of seeing a lack of representation for women in sneaker culture along with the stereotype of what it means to be a professional within the sports industry – so my business partner and I broke the bias and decided to open our own sneaker store for women by women,” said Abby Albino co-founder of sneaker boutique Makeway . “It’s an unconventional idea to open a standalone store in the middle of a global pandemic, but we believed in it and knew that ultimately there was no “right time” to take the leap. To be honest, I’ve never been great with money, but I learned that small lifestyle changes and finding simple digital solutions allowed me to save and better manage my money, ultimately making it possible for me to open my shop,” said Albino.

The virtual panel, hosted by Simplii Financial, will be on Tuesday March 8th, 2022 at 2:00pm EST. A series of social media videos, profiling Abby, as well as with her fellow panelists’ side hustle journeys will be shared on their corresponding social channels prior to the virtual event on March 8th.

About Simplii Financial
Simplii Financial is committed to delivering simple, straightforward banking. With a fully mobile experience, nearly 1.8 million clients enjoy no-fee daily banking with no minimum balance and high interest savings rates In the 2021 Ipsos Financial Service Excellence study, Simplii was an winner in the Online and Mobile Banking Excellence, Recommend to Family and Friends and the Value for Money award categories, in Canada. Simplii delivers a simple and easy way to bank with 24/7 access to online, mobile and telephone banking as well as access to one of the […]

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