The eCommerce industry alone is expected to reach annual global revenues of over $4 trillion in 2022, up by over a trillion dollars from 2020. This can include activities such as eCommerce, blogging, affiliate sales, investing in stocks and shares, creating an app, or even renting out property. However, once established, these income streams can be maintained with little effort. Most activities require some initial investment of time and money. Passive income can be defined as income generated from a source that does not require regular active management, such as investments, side-hustles, or property. This article explores some of the most popular and successful ways to generate passive income and increase your monthly earnings with minimal time and effort. There are many potential ways to start earning passive income – some are more suitable for those with specialist skills, while others can be accessed by almost anyone. Learning how to generate passive income can be a fantastic way for small business owners to boost revenue and create a financial safety net. Passive income is a term used to describe a stream of income which, once established, takes little to no active management to generate funds. For guidance or advice specific to your business, consult with a qualified professional. Please note that this article is intended for educational purposes only and should not be deemed to be or used as legal, employment, or health & safety advice.
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