10 Factors have Contributed to the Recent Growth of Freelancing

Freelancing has grown significantly since it first made headlines several years ago. Many people are drawn to the career, and companies are now accommodating these new workers to their operations.

But what made it boom so fast compared to other business trends? What made it different? Here below are some of the factors that contributed to the recent growth of freelancing:

1. COVID-19 pandemic
   Many people found themselves without a job when the pandemic struck. However, most could get back on their feet by taking on freelancing.
2. Wages
   Compared to office jobs and other 9-to-5 jobs, wages are far better in freelancing, primarily if one specialises in the task.
3. Lesser Expenses
   Whether you are a team leader or an employee, freelancing has shown that expenses can be cut significantly.
4. Cost-efficient
   Employers nowadays want to contain costs, especially for their employees. Freelancing allows them to get different people for all sorts of tasks for a short term for a lower price than having a team on standby and primarily not working most of the time.
5. Availability of Private Health Insurance
   One of the reasons why people did not consider freelancing before is due to the unavailability of benefits such as health insurance. However, there is now affordable health insurance available in the market so that freelancers can pick the right coverage for their needs.
6. Reduced Benefits for Office Workers
   People used to slave away and work for companies in the office because of the benefits and incentives offered. However, companies are reducing these incentives as part of their cost-saving measure. As a result, people are now leaning towards a working setup where they can have complete control of the benefits they can avail themselves.
7. Internet is Everywhere
   The Internet is now available everywhere, and most people have access to it. As a result, people are now aware of the potential of freelancing and trying it out.
8. Online Shopping 
   Housewives, in particular, are now looking into freelancing because they have much more free time thanks to the availability of online shopping.
9. Video Meetings
   Workers now prefer to work at home because they have more time to do their tasks and can schedule video meetings, reducing their need to go to the office.
10. Less Stress
    Many prefer freelancing because it is less stressful, especially when they have a steady client base and an established brand. It is also less stressful because one has complete control over their schedule once they are a freelancer.

Freelancing is here to stay, and it will grow further as more businesses find new ways to create more unique jobs to stand out. But, before you transfer your career to a freelance setup, research and ask yourself if it is the career for you. Remember, not everyone is fit for freelancing, and if you find it out too late, it can be difficult to transition out.

Starting out as a freelancer? Check out my guide to your success today.