Freelancing facts you need to know
Powered by Blueprint AI icon
Entrepreneur
New Normal
8 MIN READ

Freelancing facts you need to know

November 9, 2020
Kai Magsanoc

Whether you are a freelancer or a business working with freelancers, it is important to know and appreciate these helpful facts.

The Gig Economy. This is how experts have coined the rise of freelancers during the pandemic. But did you know that freelancing was already gaining traction even before COVID-19 took over the world and shot down economies?

Even those with full-time work are now doing extra work on the side. If anything, the economic impact of COVID-19 has made us realize that one reality of the new normal is that one income stream just won’t cut it — especially if one is supporting a family (and more so if there is a family member who is already battling an underlying illness).

READ: Pros and Cons of a Remote Team

Why is it important for us to know these freelancing statistics? It gives us an idea of where the world is going in terms of business which affects employment which then affects our livelihood. Suddenly, freelancing is a cool thing.

Fact 1: There are 58 million freelancers in the US, and the numbers is rising

The projection is that the freelance workforce will dominate businesses by 2027. As of August 2020, freelancers are contributing over USD $1.4 trillion to the US economy.

(Upwork)

Fact 2: Google has more freelancers in its payroll than permanent workers

In March 2019, the search giant already had 120,000 freelancers as opposed to 102,000 permanent employees. We’re waiting to see the latest numbers!

(Bloomberg)

Fact 3: Freelancing is a top opportunity in countries with low domestic openings

If you work with a remote team, chances are you are working with people from Pakistan, Ukraine, India, Bangladesh, and the Philippines. You help them, they help you.

(CNBC)

Fact 4: Freelancers are the lifeline of small- and medium-sized businesses (SMBs)

Working with freelancers is cost-effective and flexible. It offers you choices in terms of experience and skill set. 83% of SMBs say that freelancers are crucial to their success.

(LinkedIn)

Fact 5: More and more businesses are choosing to work with freelancers

By 2018, 48% of businesses in the US hired freelancers. Let’s face it: freelancers are easier to hire. They are also adept in remote work and self-management.

(Inavero Report)

Fact 6: Online freelancing platforms are giving more opportunities to freelancers

The business of helping others is getting big, starting with the business of helping them find work. 71% of freelancers say they are getting more jobs thanks to these websites.

(Business2community)

Fact 7: Freelancer productivity is steadily increasing

Freelancers — otherwise known as flexible workers — are turning in more work! Hiring personnel are expecting a 168% rise in productivity from freelancers in 10 years.

(Inavero Report)

Fact 8: The top freelancing skills are related to IT and development

60% of the top in-demand skills from freelancers are IT-related, among them Blockchain, TensorFlow, and Amazon DynamoDB. It would be good to upskill, folks.

(Business Insider)

READ: Working with an Amateur vs Pro

Freelancing is not only growing; it is also here to stay. Freelancing is like being an entrepreneur or a one-man agency serving several different clients. And if all is manageable, there is nothing wrong with that.

Freelancing helps the individual and his/her family, and it helps businesses grow, thrive, and survive.

Meet the best freelancers for your business with BizScale.com. We offer a broad range of services and packages that are customized to your needs. Email us at sales@bizscale.com or call us at 833-722-5310 to get started today!