The gig economy is a significant and growing trend in the world of work, with millions of people around the world choosing to work as freelancers. While it offers convenience, flexibility, and the potential for higher incomes, it also comes with challenges such as a lack of job security and benefits.
Freelance vs. side hustle: both terms are often used interchangeably, but they are actually quite different. Freelance work refers to self-employment in which an individual works on a project-by-project basis, usually for multiple clients. A side hustle, on the other hand, is a part-time business or entrepreneurial venture that an individual engages in alongside their full-time job.
According to a report by the Freelancers Union and Upwork, in 2020 the freelance economy accounted for approximately 57 million freelance workers in the United States, roughly 36% of the U.S. workforce. This trend is expected to continue in the future, with some estimates suggesting that freelancers could make up as much as half of the U.S. workforce by 2027.
Freelancing and starting a side hustle can provide a wide range of opportunities for individuals looking to supplement their income or pursue their passions. With the rise of the gig economy and the increasing availability of online platforms, it’s easier than ever to find work as a freelancer or to start a side hustle.
From the development of online platforms that connect freelancers with clients to the use of tools and software that make it easier to manage projects and communicate with clients, the role of technology in the freelance economy has created new opportunities for independent workers allowing them to build rewarding careers.
Freelancing vs. traditional employment: Both options have their own unique set of benefits and challenges, and it’s important to carefully consider your own needs and priorities before making a decision.
The benefits of freelancing for small business owners are great: freelancers offer a flexible and cost-effective way to access the skills and expertise needed to grow a business. Wedo is a platform that can help small businesses to find and hire freelancers, as well as provide a range of other benefits.
Navigating the freelance market can be challenging, but with a strong portfolio, professional profile, and a willingness to network and negotiate, you can build a successful business. Utilizing platforms such as Wedo can also be a valuable resource for finding and securing new clients.
The most important skills freelancers need are communication, time management, adaptability, marketing, and technical skills.
The future of work is freelancing thanks to continuously improving technology. More flexibility, higher income potential, better work-life balance, and greater job satisfaction will be the result.