When just one job isn't enough to pay the bills
Almost 40% of SA's working urbanites rely on a sideline, too
Self-employment may be on the decline, but more employed people are setting up sideline businesses to supplement their income, the latest Old Mutual Savings & Investment Monitor shows. The monitor, now in its 11th year, is a survey of urbanworking South Africans, examining their levels of savings and investment as well as their attitudes to finances. Questions to the 1000 respondents deal with household rather than personal circumstances, because household income is considered a more appropriate measure of saving and spending patterns. Appetite for it Old Mutual said this was because financial and investment decisions were often made jointly between a couple, especially in relation to big decisions such as home loans, retirement and children's education. This year's monitor shows that self-employment has decreased from 12% to 8%. Priya Naicker, advice manager for Old Mutual Personal Finance, said this was largely due to limited support for entrepreneurs and uncertainty in a tough ec...
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