From side hustle to full-time business: 5 practical tips for small business owners taking the leap

RUNNING a business on the side while holding down a full-time job has become increasingly common in South Africa.

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For many, it starts as a way to sup-plement income or pursue a passion project. But for some, the side hustle gathers enough momentum to raise a serious question: could this become my full-time livelihood?

Taking the leap from part-time to full-time entrepreneur is a big decision. Done right, it can unlock new levels of growth and freedom.

But it also carries significant risk particularly in today's unpredictable economy.

If you're thinking about taking the plunge, here are five practical tips to make the transition smoother and more sustainable.

■Get clear on your finances

Get clear on your finances

Before you resign from your day job, take a hard look at the numbers. Is your business currently generating enough profit to cover your personal and oper-ational expenses? If not, how long will it take to reach that point and do you have savings to carry you in the meantime?

Aim to build at least three to six months' worth of personal and business expenses in cash reserves. This buffer gives you time to adjust, test new strat-egies, and survive any early setbacks without panic.

Also, think ahead about tax. When you become a full-time entrepreneur, you'll need to manage your own PAYE and provisional tax. Speak to a profes-sional to set up a process that works from day one.

■Formalise your operations