The Future Of Work: How The Gig Economy Is Shaking Things Up
Gone are the days of the boring old 9-5 work week and spending your entire career stuck at the same company. The gig economy, or the trend of freelance and temporary work, is changing the way we think about employment and work.

According to a study, a whopping 36% of the U.S. workforce, or about 57 million people, are now participating in the gig economy. And get this – it’s expected to keep growing, with some experts predicting that by 2027, the majority of the U.S. workforce will be made up of gig workers. Crazy, right?

So what does this mean for the future of work?

Well, for starters, the gig economy gives people more control over their careers and a bit more flexibility. Freelancers can choose when and where they work, and have the ability to take on a variety of projects and clients. This can be especially appealing for those who value work-life balance or just like the idea of trying out different things.

However, the gig economy also comes with its own set of challenges. Freelancers often don’t have the stability and benefits that come with traditional employment, like healthcare, retirement plans, and paid time off. This can make it tough for gig workers to plan for the future and protect themselves financially.

Another issue with the gig economy is the lack of legal protections for freelancers. Traditional employees are protected by laws like the Fair Labor Standards Act, which guarantees minimum wage and overtime pay. Freelancers, on the other hand, are often classified as independent contractors and don’t have the same legal protections.

But despite these challenges, the gig economy is here to stay and is likely to keep growing in the future. It’s important for freelancers to be proactive and take charge of protecting themselves and advocating for their rights. This includes learning about the laws that do exist to protect gig workers, like the Freelance Isn’t Free Act, which requires that freelancers get paid on time and in full for their work.

It’s also important for freelancers to have a solid financial plan in place, including saving for retirement and setting aside money for taxes. Joining a professional organization or union can also provide gig workers with support and resources.

In summary, the gig economy is shaking things up in the world of work and employment. While it comes with its own set of challenges, it also offers a lot of freedom and flexibility for those who are willing to take the leap. Just make sure to do your research and plan ahead to ensure a successful and stable career as a gig worker.

Why You Need Internal Controls for Your Business and How to Implement Them to Succeed

The concept of internal controls requires there to be more than one person with the authority to release payments, authorize purchases, or commit the company to a business transaction.

The Challenges of Fundraising in a Downturn: 4 Essential Factors to Help You Successfully Overcome them

Overcoming the challenges of fundraising in a downturn will require persistence, adaptability, a strong business foundation, and a focus on networking and building relationships.

7 Free Tools Every Freelancer Needs in 2022

Seven tools every freelancer needs all-in-one-app As a freelancer, it can be tough to keep up with all of the different tools that you need to be successful. There are so many different options out there, and it can be hard to know which ones are worth the investment....

Is the Gig Economy a Bubble?

What role is the gig economy playing in the traditional business world, now and in the world? By 2027, the gig economy will contribute to more than 50% of the workforce. Here are 2 things that’ll happen as a byproduct: 1. Workforce will become fractional. More people...

Five Powerful Entrepreneurship Steps to Find Your Path as an Entrepreneur

This is what Jim Frawley, executive and organizational coach, host of the Bellwether Hub Podcast, and author of “Adapting in Motion: Finding Your Place in the New Economy” has to say about his entrepreneurship journey.

Scaling Your Startup Successfully: The Ultimate Quick Guide for Entrepreneurs

Scaling your startup is a challenging but essential task for any entrepreneur looking to grow their business and achieve long-term success. There are many different strategies and approaches that can help you scale your startup, but they all start with the first step:

Freelancing in the Digital Age: The Pros and Cons of the Gig Economy

Gone are the days of the traditional 40 hour work week and lifelong careers with a single company. The gig economy, or the trend of freelance and temporary work, is rapidly changing the nature of employment and the way we think about work. According to a study, 36% of...

Infinite Games: Building a Better Future: The Role of the Helping Economy in Social and Economic Development

The concept of infinite games, introduced by author and consultant James P. Carse, suggests that some activities, such as playing a game or building a business, are ongoing and have no predetermined end. In contrast to finite games, which have a clear winner and...

How Wedo Can Help you to Easily Build Your Own Businesses as Freelancer

The Gig Economy and the Future of Entrepreneurship: How Freelancers Can Build Their Own Businesses with Wedo (While Ditching the 9-5 Grind).