Thinking about starting your own business on the side and becoming a “halfpreneur”? Maybe you want to turn your hobby into something more, make some extra cash while studying or working part-time, or solve a big challenge through entrepreneurship.
The common thread is that almost everyone has a strong passion to change something, solve a problem, or just create and share their skills and knowledge. That’s what drives so many cool businesses to get started every year!
Curious about starting your own side hustle? Awesome! We’ve put together some tips and tricks to help you out along the way.
Starting a business and making enough to pay yourself a full-time salary right away can be tough. That’s why keeping your day job while working on your side hustle can be the perfect combo. Quitting a stable job to go all-in on an idea that may or may not take off can feel scary—or even impossible financially. So, why not have the best of both worlds?
Being a “halfpreneur” means balancing your regular job with your own business. And once your business gets rolling, you can decide if you’re ready to take the plunge and go full-time!
In Sweden, there’s actually a law that allows you to take up to six months off from your job to try running your own business—as long as it doesn’t compete with your employer. How cool is that?
Just make sure to chat with your boss first, as policies around side gigs can vary. Be upfront and manage your work hours well—who knows, your boss could end up being a future client or even a big supporter of your business!
Keeping your job while starting a business gives you financial stability, even if it’s a bit less than usual. It’s a safer way to dip your toes into entrepreneurship without all the pressure.
Plus, working part-time on your passion project can be super rewarding. Whether you’re a creative, a developer, a consultant, or a writer, this setup can be the perfect way to bring your dreams to life.
Start by sketching out how much you think your business will make and how much you can cut back on your hours at your job.
Have an honest conversation with your boss about your plans. Being upfront means you can talk about your business openly and promote it without worrying about any conflicts.
Make sure you’re balancing your job and your business well. Stay on top of your schedule and commitments.
It’s easy to overbook yourself when you’re excited and motivated, but don’t overdo it. Keep track of your hours and make sure you have enough time for everything. Don’t be afraid to say no to projects or push deadlines out if you need to. Your well-being and your job come first!
Want to dip your toes in and work on your passion project without officially starting a company? Then a hobby business could be a good fit. It’s basically:
Something you do in your free time
Not your main source of income
Work that’s not done for someone else
You can read more about how it works on the Swedish Tax Agency’s website.
Another option is freelancing through an umbrella company. This means you’re linked to a company that handles all the admin stuff like invoicing and accounting for a small fee. It’s super convenient! But keep in mind, they’ll take a cut of your earnings, and you won’t qualify for startup grants or business expense deductions. So, once you’re feeling more confident, it’s worth starting your own company.
Check out Verksamt.se for more details on how it works.
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Curious about how to take your hobby, skills, passion, or idea to the next level? Or maybe you’re wondering how to get started with your own business? You’re more than welcome to come see us at Science Park! You can book a free coaching session with one of our business developers.
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