3 Facts about the Gig Economy You Can’t Afford to Miss
The side hustle is alive and well. So well, in fact, that many people have turned away from the confines of the traditional 9 to 5 and started to embrace the flexibility that comes from the gig economy. Individuals interested in the gig economy aren’t the only people who recognize the perks. More and more corporate entities rely on freelancers. Here are 3 tips about the gig economy you can’t afford to miss.
The Gig Economy Will Continue to Grow
Currently, around half of all corporate entities use freelancers and plan to increase their reliance on them. Between the struggles of hiring qualified employees and the drive to have more productivity, the gig economy will continue to gain traction with businesses of all sizes. Studies have shown that people who telecommute are more productive.
Around 35% of working adults are freelancers. The gig economy provides workers with more flexibility and control over their lives. Moms who once felt that they must choose between staying home or working outside the home can now work from home. Globetrotters who want to travel can do so while continuing to work remotely, and often from exotic locations! Adult children who act as caretakers for elderly parents or other family members have the opportunity to work around the schedule of the ones who need them the most.
The Gig Economy Provides More Bang for Your Buck
Businesses who rely on the gig economy cut costs on overhead. Utilities, equipment, insurance, and benefits are the main areas were businesses experience a cost savings when they utilize the gig economy. Businesses are also able to better control their project budgets. With the gig economy, freelancers are commonly hired for only the duration of the project. This means that even small businesses can get the help that they need. There are freelancers in the gig economy with specialized skill sets and that can fit every budget.
Individuals can use the gig economy to supplement their current income or they can rely on it for their total income. The gig economy empowers people to work with the best companies, small start-ups, and even other individuals. People can set their own rates and their own hours.
You Can Run Your Business Anytime and from Anywhere
Time is money for businesses. If you’re looking to add more productivity to your day, the gig economy is a great place to start. You can look for help from people who are in your time zone or who can work your business for you while you’re out of the office. You can rely on apps such as Slack, Upwork, or Skype to stay in touch. Business no longer needs to be done only during your working hours. You’re able to capitalize 24 hours a day, 7 days a week.
Individuals are able to adopt a schedule that best suits their needs. As long as they have a laptop and an Internet connection, the possibilities are endless for people who want to embrace the gig economy.
For more information on how the gig economy can work for you, click here.