Freelancer, a term which we are hearing now and then, everywhere around us. We have friends, cousins and even some of the home-maker relatives, who are happily working being a Freelancer.
For those who don’t know, what a freelancer is. A freelancer is a person who is not bound to any single job or employer and works for multiple employees. It is a form of self-employment where the professional is free to collaborate with as many employers as they want. The term of workship is not long term. It is generally for a small period of maybe just for a project or assignment.
Who Can be a Freelancer?
Generally, the freelancers are hired for the kind of work which is not permanently or regularly required by an employer. For example, a law firm may require to get their website developed. Since it is a one time job, then instead of contracting with a large website development organization, the law firm can hire a freelance website developer.
Similarly, a photographer for a single event, a writer for blog/article or web-content writing, a trainer for training employees about a software or skill can also be hired by anyone on a freelance work basis. There can be freelancing for any kind of job, work or profession. There is no limitation of being a freelancer apart from being skilled and experienced in the field, in which you are freelancing.
Well, it has a two-way benefit for both, the contractor/employer as well as the freelance professional. Since the freelancer doesn’t have an office set up to maintain and more often they work from using just a computer or laptop, it saves a lot of cost for the freelancer. Further, it benefits the employer in terms of lower professional fees. A freelancer generally charges much fewer fees as compared to an organized business.
Also, since the business relationship is for a definite period, the freelancer is free to move to another employer. This keeps an individual’s mental space broader. Freelancers get exposure to working in a different segment of their industries. Thus avoiding monotonous work environment. Further, the employer is also free to opt for another freelancer for the next job or project if they are under-satisfied with the work of the former one.
Freelancing yields a great deal of income to the freelancer. They can work for multiple employees at the same time. It also allows taking break and vacation from work, whenever they want. If you are done working and think have sufficient money in the bank to run a month or two. Take a break, go on a vacation.
If you look from the employers p.o.v, then you will prefer a person who has working experience in more fields & segments than the one having expertise in a single field. Freelancers work with many corporate and that too in a very short time. For example, a fulltime content writer is aware of writing only 1 or 2 types of contents for their employer. However, a freelance writer would have worked with multiple kinds of employer and would be having experience of working in different kinds of write-ups. Thus, as an employer, you should prefer a freelancer for a single project.
When not to Choose Freelancer?
Well, this article is about the growth of the freelancing industry, but this point was necessary to keep an unbiased opinion. A Freelance work style is not suitable for you if you are looking for a permanent and regular source of income. As a freelancer, you may have 5 assignments to do in one week and the other 3 weeks, you may have zero. This will not only affect your income flow but will also affect your regular life as you may be working too hard one day and the other day you are sitting idle in front of your computer screen. You should be ready for these kinds of ups and downs.
Further, from the employers p.o.v., a freelance employee is good for one or two assignment or a short term basis. However, if you are looking forward to getting that work done for a longer period, hire a fulltime employee. This is because a freelancer is habitual of working for the short term period and they have a versatile working nature. Hence they may not get acquainted with your working environment. A full-time employee would rather get a good chunk of training while working for you for a longer period.
Freelance Market Growth
The trend of freelancing has increased highly over the past few years because freelancing is a way of working which offers you quite an independent work-style as compared to another form of working.
Several countries from around the world have recognised freelancers by adopting friendly taxation laws and corporate measures to promote and encourage them.
Recently, Forbes has issued a list of top 10 countries where freelancing opportunities and industry have grown rapidly since the same quarter in 2018.
1. US- 78% Growth
2. UK- 59% Growth
3. Brazil – 48% Growth
4. Pakistan – 47% Growth
5. Ukraine – 36% Growth
6. The Philippines – 35% Growth
7. India – 29% Growth
8. Bangladesh 27% Growth
9. Russia – 20% Growth
10. Serbia – 19% Growth
Apart from this, as per the Global Payment Platform Payoneer’s Global Gig Economy Index, the freelancing markets from around the world have seen major economic growth during the second quarter of 2019.
Freelancing Opportunities in India
The Indian government is also escalating freelancing opportunities for Indian freelancers by running Digitize India Platform Program. Under this program, freelancers are provided training in digital skills through the India Skills Online Program. Further, the Ministry of Skill Development and Entrepreneurship is currently focused on supporting youth, women, and under-represented groups.
This is proof that the freelance working approach is rapidly growing around the globe and in India. Well, good for everyone, they get to work their way up to success in their manner.