The average annual income for Black households in the United States is $46,400, according to Pew Research Center. As the cost of basic life necessities increases, acquiring multiple streams of income has become vital instead of a choice.

According to CNBC, inflation is the big money-hungry elephant in the room.

“The price of food prepared at home, for example, is up 6.7% year-over-year, the cost of shelter, including rent, is up 8% year-over-year and the cost of transportation services is up 10.2%,” CNBC reported in a recent article.

Within the last generation, people have taken on numerous side hustles to close any financial gaps that could plague them or their households—especially Black people. 

However, the source of the extra income doesn’t come from clocking in at a part-time job but from logging on to the internet from the comfort of one’s living room. Establishing an online business is the most popular side gig for Black people. Increasing cash flow with e-commerce, as well as monetizing products, services and content is the first choice for most. 

In a 2021 survey conducted by Pew Research, 27% of Black and 34% of Hispanic individuals between the ages of 18-49 have made money through an online platform. These numbers are almost double that of white people that age, with only 16% reporting that they have made money in digital spaces.