Huge rise in Australians needing to supplement income with a side hustle as inflation bites [Video]

A staggering half of all Australians will need to supplement or switch up their main income in the next few years to stay afloat, according to new research.

As the cost of living crisis bites, a new report has found 55 per cent of Australians are hoping to start a small business or a profitable side hustle within five years.

Small Business Loans Australia (SBLA) surveyed 1005 Australians to ask how their main income was faring against skyrocketing mortgage repayments or rent and pricey groceries.

In a breakdown of the figures, 38 per cent said they would start a side hustle and 17 per cent would start a small business for their sole income. 

Overall, 68 per cent were found to be “motivated” to top up their income. 

The respondents said they were more likely to start …