There is no denying that the gig economy is growing and it covers every aspect of independent work from accounting, to writing to home repairs. While freelancing was considered as something many people would do between jobs, the reality is that people are now freelance full time and are thriving.
Research into the gig economy reveals why this many people are opting to do freelance work.
1. It is both viable and sustainable
In a certain study, 5 out of 6 freelancers were shown to reach their income goals within two years. More than 42% of freelancers will actually do so in a year. And the driving force behind these numbers is that when you realize that you are growing as a freelancer, you will be more likely to pursue your goals.
And it doesn’t top there, for those who think freelancers don’t secure their future, the truth is that majority are saving for their future and many of have taken insurance policies.
Many companies are welcoming the idea of freelance workers and the gig economy continues to grow.
2. Freelancers work toward growth
Freelancers are not here on a temporary basis and in fact plan on pursuing their goals for the long term. Research in fact shows that the majority of them have no intention of being employed full time.
Freelancers are also marketing their skills regularly spending considerable amounts every month on marketing alone.
While not all freelancers are marketing their skills, those that are spending money on marketing initiatives every month are receiving more gigs and earn considerably more.
3. Freelancers are happy at their gigs
Granted millennials may have been the first to use social media to launch and grow their businesses, but they are not the first people to start freelancing.
Freelancers that are over 35 years plan on never going back to being fully employed and are content with the life work balance that is as a result of the gig economy.
Many freelancers are not referring to themselves simply as “freelancers”. They are instead calling themselves small business owners, self-employed and entrepreneurs. This proves that they consider their work more as a business.
The gig economy is here for everyone
As the months and years pass, the gig economy continues to grow which sees freelancers grow their income and turn their gigs into lucrative businesses. To put things into perspective over $3.2 million freelancers in the US are earning more than $100,000 a year.
There are still those who think that the gig economy is not sustainable but more and more people are embracing freelance work due to the many benefits that come with it. One of the great motivators is not just the opportunity to have more income but the flexible work life balance involved.
Companies are looking to become more flexible as well and one of the ways they can do this is by hiring freelance workers.
The talk is that the gig economy is here to stay and as the months go by, we will see more and more people joining the freelance world.