The Big Issue, the magazine known for its slogan "a hand up, not a hand out", is celebrating 20 years of helping people across Australia.

The magazine — which gives homeless and disadvantaged people a chance to help themselves by working as vendors — was first sold on the steps of Melbourne's Flinders Street Station on June 16, 1996.

The first edition's cover featured a busker in front of Melbourne's Art Centre. ( Supplied )

In the two decades since then, the organisation has spread across Australia, with more than 500 vendors now working to distribute the magazine every fortnight.

The Big Issue is celebrating its 20th anniversary this month with a bumper special edition and celebrations around the country.

Russell has been selling The Big Issue for 16 years. He currently sells the magazine on the streets of Melbourne, but he has previously worked in Brisbane and Sydney.

He said the extra income and the social aspects of the job meant a lot to him.

"It's meant a massive amount. It's mostly that it gives me that extra money," he said.

"I've been broke: it's no fun. When you're selling The Big Issue, when you've got $20 or $30 in your pocket, you're not broke."

Some of Russell's customers have been buying the magazine from him for years.

"Most of my customers ... they know what I've been up to the previous couple of weeks," he said.

"I've watched my customers' kids grow up ... they're teaching their kids respect as well."

Vendors of the first Australian issue of The Big Issue in Melbourne in 1996. ( Supplied )

Russell recently met with Prime Minister Malcolm Turnbull and told him the magazine "gives so many vendors so much confidence".

The magazine has come a long way since its launch, which was supported by The Body Shop and its Australian owner, Graeme Wise.

The first edition featured a busker in front of Melbourne's Art Centre on the cover and sold for $2.

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About 6,500 people in need have sold more than 10 million copies of the magazine since then, collectively earning $23 million.

Circulation has increased nearly four-fold — from 7,000 in 1996 to 26,500 currently — and a magazine now costs $7.

About 400,000 subscription issues have been packed by homeless and disadvantaged women taking part in the magazine's Women's Subscription Enterprise program.

Sally Hines, The Big Issue's national manager, said the magazine was still going strong despite headwinds for print publications.

"We certainly haven't seen a decline in our circulation. Indeed, it continues to grow," she said.

"Vendors continue to earn more money each year which is fabulous."

The magazine's anniversary edition features photographs by former editor Alan Attwood capturing memories of his time at the magazine.

Mayors in Melbourne, Brisbane, Adelaide, and Darwin will work alongside vendors to sell the magazine on Friday.