Best Online Income Streams For Canadian Residents (2021)
Find out the best ways for Canadians to make money online below!
Everyone could use some extra cash, and if you’re here, then you’re looking to actually start making more money. Thanks to the internet, there are many more options now than ever before.
Canadian residents might see their options limited depending on where exactly they live. Traditional jobs, where you need to physically move to your workplace, abound in larger cities, but that’s often not the case in more remote areas.
If you’re in the latter group, then working online might be just what you need. Considering the large amount of smaller towns in Canada, it’s not hard to find yourself in this situation. The saving grace comes with the online platforms that let you make money independently.
Remote and gig working is also a growing trend. Over 20% of the workforce located in some Canadian areas are now working this way. However, freelancing isn’t the only choice, and we’re covering as many options as we could find in this article.
This is a very lucrative business right now, and it’s not particularly complex or difficult to do; you just need patience and a desire to learn more. Sure, it’s not as simple as posting your freelance offer on the internet and wait for clients, but it can be more lucrative when done properly.
Starting your own venture is easy, quick, and requires little special skill other than knowing how to use a computer and the internet to learn more. You don’t need a technological wonder of a PC, either; even a basic laptop can run a web browser and builders like WordPress or Wix.
After creating your website, the next step is to find a product you can promote. The entire structure of affiliate marketing is as follows:
- Build a website where you can host content. This includes domain, hosting, and finding a niche.
- Find a product within your niche. Both have to be profitable, useful, and have a passionate audience willing to purchase while keeping it as unsaturated as possible.
- Join the affiliate program and receive your affiliate link.
- Create useful content on your website and add this link while promoting it so that people can click on it.
- Once someone you’ve directed to the product buys, you make a commission from it.
There are more steps, of course, but they fall within that structure. You basically need to learn about SEO, how to generate traffic, implementing social media, and what types of content you can use.
However, once you’ve set up your website and content – and people are regularly reading your articles – you’ll make money even if you’re not sitting in front of your PC. After everything runs properly, you can come back to it a few times per week and still make money 24/7.
You can learn everything you need on the internet. There are countless free resources, but researching can take a lot of time, so investing in a comprehensive course is worth considering.
Amazon is the largest eCommerce website, making up the majority of all online sales for years now. What’s great about it is its Fulfillment by Amazon program, which basically lets you move your products into the internet by letting Amazon take care of everything other than stocking up the products.
You also get added benefits like Amazon’s tracking features and amazing shipping times. You can receive orders from anywhere around the world and track how the journey is going at all times with estimated delivery times.
As I said, you only need to send Amazon your products. They’ll package it and take care of shipping it to your customers, also handling customer support. You send your products to a warehouse, set the price, and relax.
You can offer a huge variety of products and include bonuses like Amazon Prime and free shipping. You do have to pay a fee for the service depending on your products and learn the process, but there are many courses available, and the money is great.
Dropshipping is another trending business model right now, and it’s even simpler than using the Amazon FBA program. You basically build a website, list products directly from the manufacturer, and forward all orders to them so that they can take care of getting the products to your customer.
The main appeal with dropshipping is how quickly you can start. Platforms such as Shopify let you create a store by detailing each step, and experienced entrepreneurs can do so in mere minutes.
The costs are minimal since you’re only buying the products every time someone purchases from you. Outside of that, you just need to invest in your store (building, plugins, themes, etc) and marketing. You can operate it from anywhere, and anything related to handling stock goes to your supplier.
However, it’s not a perfect model. You need to research your suppliers before offering their items since any mistake on their side will be your responsibility. Given its current popularity, it’s also quite competitive if you can’t find a good, unsaturated niche.
This is one of the oldest income streams to touch the internet, but it still works today. There are countless websites focused around them, and most articles on how to make money online include online surveys.
The entire business is quite simple. You look for a reputable company, sign up, and start receiving surveys. You don’t really need to be an expert in anything since most surveys are market research and require your opinion only. They can also be completed on your smartphone, so you can work from anywhere.
The issue with surveys is that they can become really repetitive – especially if you’re doing many in a row. Shorter surveys also pay less, but if you can set up a daily schedule and complete them quickly, they can stack up.
Many online companies offer users the chance to set up a store and sell personalized t-shirts. Spreadshirt is a great example, and they help you with everything: from designing your website to design features for your creations.
While t-shirts are the most popular, most websites offering these services will also let you design mugs, mouse pads, posters, and anything. You just need to create your designs and they’ll take care of making your products.
It’s a lot like dropshipping, and you’ll often see this model as a sub-category of the former and called print-on-demand.
If you’re good with illustration and design, you can create an entire brand with this business model, and it’ll let customers recognize your products quickly.
Knowledge can make you a lot of money, especially with how the e-learning industry has grown in recent years. If you’re talented or an expert in virtually any area, you can make money from it.
Countless people look for education through many online platforms. Such high demand means that it’s rare for a skill not to be worth something to an audience, so chances are good you have knowledge you can monetize.
You can make money with 2 options: live tutoring sessions or creating an online course.
Tutoring means you need to schedule your classes, but you can subscribe to different platforms that will connect you with students, making it easier to find clients and make more money.
Other platforms let you create and host online courses. While this can take some time initially, and you need to market your course by yourself, you can make money for a long time from a single product, so it’s a lot less work in the long run.
Selling on eBay
If you enjoy visiting garage sales, antique shops, or just have interesting items around your place that you can sell, then eBay can be a nice income source. Of course, making a business out of it requires dedication and constantly looking around for bargains.
However, you can sell virtually anything on the platform – as long as it’s not illegal. You can sell books, kitchen utensils, sport equipment, collectibles, toys, etc. Even unused stuff you can buy from your friends can make you money if you try.
Of course, eBay charges a fee for listing your products and the huge traffic it provides. However, you’re in charge of your prices, so you can offset these fees.
Many entrepreneurs know everything about setting up and managing a business yet nothing about advertising on the internet. It’s not a hard skill to learn, and if you know how to advertise on platforms like Google and social media, then you can make serious money by offering those services.
Luckily, most ads platforms work somewhat similarly. It’s more about learning the tropes and getting used to the process than learning a new science. You can also learn everything on the internet – for free if you’re willing to research and curate the content yourself.
There are countless platforms you can use: from the most popular ones like Google, Instagram, and Facebook, to underused channels like LinkedIn, Bing, and Pinterest. However, you don’t need to learn all of them to start working; even a solid grasp on the first 3 can make you good money while you learn the others and offer more comprehensive packages.
As long as you can generate results, most companies pay top-money for these services.
Selling on Etsy
Etsy is a great source of income for many creative and art-oriented people with crafting talents. You can think of Etsy like a similar option to eBay: a marketplace where people list their products for others to buy.
The difference is that Etsy focuses on artwork, crafts, and vintage items. You can sell virtually anything you can make, and if you want ideas, some of the most popular categories are home items, jewelry, clothes, toys, and crafts.
People from all over the world have made a business out of the features offered by this platform. If you live in a remote area, Etsy could very well become a lifesaver thanks to how you can build your own store and reach buyers you wouldn’t even consider otherwhise.
Just like eBay, you have to pay a fee for the huge service they provide. Luckily, it’s just the same when it comes to the rest of the process: you set your own prices, and you get to keep everything after deducting the fee.
You can even find other sellers offering similar products to you and see their prices. This is a quick-yet-useful strategy to find out how much you should charge for your products while still looking enticing to your audience.
The internet has allowed local businesses to expand more than they thought possible, and this has created the need to reach other countries – even when language might be a barrier. Just as this is an opportunity for companies, it’s also an opportunity for people who know other languages.
If you’re in Canada, changes are really high you’re good with both English and French. This already gives you a good edge over many people, and you can charge companies for translating documents, minutes, and even online articles or product/service descriptions for them.
You don’t even need to leave your home for this job. You can join platforms such as Translated.com and connect with clients requiring your service for a good fee. If you’re fluent in more than one language, there’s money to be made.
Keep in mind most platforms work with a rating system. Your results and quality can either open or close doors in the future, so make sure you’re always improving.
If you have headphones and a computer, then you have everything necessary to offer transcription services. Many companies look for people to transcribe audio recordings or videos, and you can make good money if you’re accurate.
You don’t really need any special skills other than good hearing and writing. A good grasp on grammar and language also goes a long way in making your service better.
You can sign up with several companies to look for job, like Accutran Global, and a quick Google search can yield many lucrative results. Most companies will test your skills before accepting you, so make sure to practice if you don’t get approved at first.
If you’re good with WordPress and other web builders as well as databases and everything needed to set up a website, you can make good money by helping others.
The complexity of your tasks will determine how much you can charge, but you still set your own prices. Every skill can be learned online as well, and the more you know, the more services you can offer, which always means more money to be made.
However, this could be one of the most time-consuming options in this list, depending on how invested your clients are and how complex they want their websites to be. You can charge more for certain features as well, but you also need to consider how much time you need to invest for that extra money.
There are ways you can make the process faster, which should always be considered and made standard in your approach: provide a questionnaire to detail what they want and what they don’t, schedule your working hours, offer real-time updates to adapt any client requests before it’s too late, etc.
Managing social media
This is similar to paid ads in that you’ll be offering your internet knowledge to people without social media expertise or time to spend on it. Luckily, this one can be easier if you already know how social platforms work.
Managing a Facebook or Instagram profile takes time. It’s not just about the time it takes to post something; that usually takes about a minute or two depending on its length. Social media management shines when making a post calendar and scheduling posting times to make the entire process more efficient.
If you can create content, schedule it using a calendar, post regularly, and interact with followers, then you can make good money. All of these tasks are invaluable. All you need is creativity, a bit of graphic design knowledge, basic knowledge of how the websites work, and time.
If you have experience in finances and strong logical skills, then this might be your best choice for extra income. All companies depend on keeping records of their finances if they want to stay afloat, and since in-house accountants can be quite expensive, a remote and cheaper alternative can save their capital.
Sure, you need to be good with numbers and attention to detail, and financial education is easily required. That’s especially true for Canada, which requires you to meet certain criteria before you can work as a bookkeeper; if you don’t have an accounting degree, you can take their public bookkeeper examination to qualify.
However, if you have the necessary skills, then you can make good money from it – especially if you can work for more than one employer.
If you’re not troubled by repetitive tasks, then data entry is a great option. You can sign up to a website like Clickearner and get paid to complete tasks. It requires minimal expertise, but this advantage costs a part of your income.
As long as you can type fast and accurately with good English and numerical skills, you can make money. However, the money isn’t really awe-inspiring, yet the work is usually plentiful.
Just be careful about scammers. Since these jobs are very popular, they’ve become a common target. Make sure to check the reputation of all companies you’re considering to sign up before doing so. Beware of those asking for personal information, and steer clear from employers asking for upfront payments.
The last suggestion goes to people with strong English skills. If you enjoy reading and can pay attention to details, then you can make money by identifying grammatical mistakes, typos, and other writing mistakes like plot holes or incomplete story lines.
You can focus on two writing aspects here: pure grammar editing or identifying mistakes with the stories themselves. You can even offer both for different fees or focus on one and offering the second as a premium addition.
You just need good English and reading comprehension. Of course, a degree in either literature or English can go a long way, but you can work with websites like Fiverr and build your own portfolio.