How Freelancing Is Changing The World

Freelancing is changing the world, but it’s not just a change in how we work. It’s also a change in what we value. We’re moving away from spending our days working for someone else to having more control over where, when, and how we work. 

We’re valuing flexibility and autonomy, which is why freelancing has grown by 14% since 2014, according to a recent report by Upwork and Freelancers Union. The report also found that 36% of the American workforce (about 57 million Americans) now freelance in some form or another. 

When you break it down even further, nearly half of all millennials have worked as freelancers at some point in their careers and there are now more than 16 million millennial freelancers alone. 

Making them the most important demographic when it comes to understanding how freelancing is changing the world.

Takeaways from “How Freelancing Is Changing the World”
1. Freelancing revolutionizes the traditional job market, offering flexibility and independence to professionals worldwide.
2. The future of work is deeply intertwined with freelancing, as it reshapes the way businesses and individuals approach employment.
3. Technology plays a pivotal role in empowering freelancers, providing them with global access to clients and fostering remote collaboration.
4. Freelancing contributes to economic growth, driving innovation and enabling companies to tap into a diverse talent pool.
5. Embracing the freelance economy requires adapting to new work dynamics and continuously upgrading skills to stay competitive.

People Want To Freelance Because They Want A Better Work-Life Balance

Freelancers are more likely to be able to work from home and at their own pace. They also have the flexibility to take breaks when they want, which is something many people find hard to do in a traditional job. 

This is especially true for those who are freelancing from their home country and working overseas. In addition, freelancers can choose what hours they want to work each day even if that’s just for a few hours one day a week!

The freedom that comes with being a freelancer can be very attractive. If you don’t like the idea of having set hours or being tied down by regular working days then it may be worth considering making the switch yourself!

Embracing the freelancing revolution is essential for the modern workforce. Discover the insights on how to thrive as a freelancer in our comprehensive guide on making freelancing work.

More Women Are Starting Businesses And Becoming Freelancers

When you look at the numbers, it’s clear that freelancing is a rapidly growing industry for women. In fact, according to a report by the McKinsey Global Institute (MGI), around 70% of new jobs today are generated by female entrepreneurs. 

And this isn’t just because the world is changing it’s also due to some key shifts in the way we work and live.

According to MGI findings published in 2016: “The global economy has become more dependent on self-employment than ever before.

This means that while businesses may be able to create more jobs through automation or technology, they’re also increasingly relying on freelance workers who can provide specialized skills and work flexible hours based on their availability. 

Women have been particularly affected by these trends; they’re now almost twice as likely as men to be self-employed globally (37% vs 21%).

Freelancing Is On The Rise In North America

Freelancing is on the rise in North America. According to the Freelancers Union,

the number of self-employed workers has grown every year since 2005 and now makes up 35 percent of the workforce. 

The same trend is visible in other regions as well: according to Upwork’s 2016 State of Independence Report, there were over 57 million freelancers around the world by last year and they accounted for 36 percent of all employed people across all industries.

In addition to being a growing part of our global economy, freelancers are also helping to diversify it by bringing more diversity into our workforces. 

For example, companies like WeWork have started providing benefits such as parental leave or free health care coverage exclusively for their independent contractors so that they can stay competitive while still maintaining their values as an organization (and attracting top talent).

Across The Globe, Freelancers Are Helping Their Communities Grow

You might be wondering how this is possible. After all, freelancers aren’t exactly known for their community-building skills they’re more of a “me” generation, right? 

But across the globe, freelancers are helping their communities grow through social entrepreneurship. Social entrepreneurship is a great way to give back to your community and make an impact on someone else’s life while doing what you love.

In America alone, there were over 40 million people working as freelance contractors in 2016 that’s 1 in 4 Americans! With numbers like that, it’s clear that this movement has reached new heights (both figuratively and literally).

Unlock the potential of your diverse writing skills and land top-notch freelance opportunities. Our guide on maximizing diverse expertise will show you how to stand out in the competitive writing market.

The Middle East/North Africa Region Has The Highest Percentage Of Freelancers In The World

The Middle East/North Africa region has the highest percentage of freelancers in the world, followed by Asia and Latin America & the Caribbean. In this region, 31% of workers are self-employed compared with just 16% worldwide. 

According to The Global Entrepreneurship Monitor (GEM), a study conducted by Babson College, entrepreneurial activity is on the rise in this area and it’s expected to grow even more over time. 

Even as other parts of the world experience economic recession or stagnation, entrepreneurs in this region have seen some growth over recent years thanks to well-established industries like oil production and construction projects related to growing populations in countries like Saudi Arabia and Egypt.

91% Of Freelancers Start With No Financial Backing

When you’re starting, it’s important to make sure that you have a plan in place. If you don’t have any financial backing for your business, then it can be easy to make mistakes and go over budget. Here are some tips for freelancers who want to get started:

Have a plan! It’s so important that if you’re doing this on your own, then having a plan will help keep things running smoothly in the early days of your freelance career. 

This means having a business plan that outlines what services or products will be offered by the company, as well as outlining how much those services or products will cost consumers (and therefore how much they’ll earn). 

It might also mean creating marketing plans with specific strategies for getting more clients like advertising through social media networks or cold calling potential prospects. 

That would help increase revenue without raising prices too much higher than what customers are already used to paying for similar services elsewhere (which could end up turning them away). Get credit card insurance! 

If something happens during operation time such as equipment breakdowns from natural disasters such as hurricanes hitting nearby areas causing damages worth thousands of dollars per hour lost due to power outages resulting from trees falling onto power lines. 

This causes fires that burn down buildings full of files containing valuable information pertaining only to specific projects being worked on right now without being able to throw away any other parts because they contain confidential information too sensitive

There Are Now More Than 57 Million Americans Freelancing

When you think of a freelancer, you probably think of someone who writes articles or designs websites. But the truth is that freelancers are doing more than just these things. Freelancers are also teachers, nurses, and engineers just like you!

They’re Doing More Than Just Getting Paid For Their Work:

The number of people working as independent contractors has grown by more than 50% between 2005 and 2015 to 57 million Americans according to an analysis of government data by MBO Partners. 

The growth is due not only to the ease at which one can start a business with an internet connection but also because it’s easier than ever before to find ways to make money with little investment on your part (e.g., renting out rooms on Airbnb).

They’re Getting Paid In Different Ways Too:

The average hourly wage for all workers is $24/hr but this figure varies depending on where they live in America and what type of job they do (and even then it varies based on experience levels within those occupations).

Curious about the inner workings of freelancing and what it takes to begin your freelance journey? Check out our comprehensive guide on how freelancing works to get started on the right foot.

33% Of Gen Xers And 38% Of Baby Boomers Are Now Working As Freelancers

According to the Freelancer’s Union, 33% of Gen Xers and 38% of baby boomers are now working as freelancers. This suggests that there is a shift happening in our workforce, where more and more people are choosing to become independent workers. 

With so many freelancers out there, it may be easy to assume that Millennials make up most of this group. However, according to research conducted by Upwork and Gallup Inc., baby boomers are more likely to freelance than Gen Xers (49% vs 42%). 

And while Millennials might be willing to take on several jobs at once or work remotely when they can’t get into an office setting. 

They’re less likely than any other generation except for those born after 1995 those who would fall under Generation Z to consider themselves freelancers (24% vs 35%).

Almost Half Of Parents are Freelance Because They Want To Spend More Time With Family

You might be surprised to learn that nearly half of all freelancers are parents. This can be a great opportunity for family members to work together, as well as spend more time together. 

If you’re a parent who’s looking for work-life balance, freelance jobs may be right for you! As a freelancer, several ways working on your schedule can help:

You can set your hours and days so they align with your children’s schedules.

You can take time off when it’s needed for example if one of your kids is sick or has an appointment. In some cases, there’s even the ability to “make up” lost hours at another point in the week (if possible).

And if necessary or desired by both parties involved in the agreement between employer and employee/freelancer (i.e., contractor), there is no need for any kind of formal notice period before leaving on vacation which means no worrying about having enough money saved up!

Witness the transformation of the modern workforce through the lens of freelancing’s impact. Our in-depth analysis on freelancing’s influence on the digital workforce reveals the forces shaping the future of work.

Freelancers Earn More Than Employees That Do Comparable Work In Traditional Jobs

Freelancers earn more than employees that do comparable work in traditional jobs. It’s not uncommon for a freelancer to earn anywhere from 15-30% more than the average salary of an employee doing the same job.

On top of this, freelancers don’t have to worry about payroll taxes or benefits and can often negotiate their terms and conditions.

The Majority Of Freelancers (66%) Say They Do It For The Freedom And Flexibility It Provides

Freelancers are less likely to have set hours, which means they can work at home and on their terms.

Almost half (46%) of freelancers say they do it for the freedom and flexibility it provides, whereas only one-third (33%) say it’s because they don’t like working for someone else.

With more time and flexibility available than traditional full-time jobs provide, freelancers are more likely to be able to balance their personal lives with their careers than those who work in a traditional office environment.

35% Of Freelancers Earn More Than $75,000 Per Year And 31% Earn Less Than $10,000 Per Year

The data shows that freelancers are earning more than their employee counterparts, but this is not necessarily the case. The study showed that 35% of freelancers earn more than $75,000 per year and 31% earn less than $10,000 per year.

Peek into the future of work and understand the role of freelancing in the grand scheme of things. Our thought-provoking article on the future of work and freelancing’s influence explores the dynamic changes in the world of employment.

The Bigger Question: Are You Making Enough Money?

Freelancers may make more or less than employees with comparable work experience in traditional jobs. 

But remember that there are other factors at play here for example, whether you’re working for yourself or someone else (and how much control you have over your schedule).

24% of a household’s monthly expenses are paid by personal earnings from a gig job or self-employment income in median income households, but only 14% come from those sources in low-income households  suggesting why many people turn to gig work for extra money and why low-income households have greater difficulty paying their bills each month

Regardless of how you make your living, whether it be through a 9-5 job, freelancing, or other forms of self-employment, there’s no denying that the gig economy is changing the world. 

People who freelance often have multiple jobs, according to Upwork and Freelancer Union data, 14% of freelancers have two or more sources of income. 

And many freelancers don’t just use their skills for extra cash: they rely on this side hustle as their primary source of income.

Freelancing offers opportunity and flexibility in ways that traditional employment doesn’t always do. 

It can allow people who might otherwise face severe employment discrimination to work full time without fear of losing their jobs simply because they’re members of marginalized groups (women, people with disabilities). 

It also allows parents who want flexible schedules so they can care for children or elderly relatives an alternative way to support themselves financially without giving up every ounce of flexibility in their schedule (and life!).

Conclusion

Even though the statistics show that freelancing is on the rise, I still think it’s important to note that there are some downsides to working as a freelancer. 

For example, because you’re not employed by a company, you don’t get benefits like health insurance or vacation time and this makes it more difficult to take care of yourself when life throws curve balls at you. 

But with all that being said, I still believe that freelancing is a great way for people who have other responsibilities like raising children or caring for elderly relatives who need extra time off but also want their skills recognized in society.

How Freelancing Is Changing The World

Further Reading

Hayden Brown: A Perspective from the Corner Office: Gain insights into the experiences and vision of Hayden Brown, the CEO of Upwork, as she discusses the freelancing industry’s future.

The Future of Freelancing: Discover the emerging trends and possibilities that await the world of freelancing in the near future.

We Studied Freelancing for Five Years – Here’s How Work Is Changing: Dive into the extensive research on freelancing and explore the profound transformations it brings to the way we work.

Frequently Asked Questions

What Is Freelancing?

Freelancing is a type of work arrangement in which an individual or company hires freelancers to complete projects, rather than hiring full-time employees. 

Freelancers typically perform the same tasks as regular employees, but they don’t receive the same benefits and protections that are granted by law to full-time workers. 

However, some freelancers choose this type of work because it allows them to control their hours and work remotely.

Who Are Freelancers?

There are two types of freelancers: independent contractors and temporary workers. An independent contractor is a person who works for themselves and is hired on a short-term basis by another business or individual. 

A temporary worker usually works for several different businesses at once and does not have any long-term contracts with any one company. 

Both types of freelancers provide important skills that can benefit companies and organizations looking for reliable support staff without having to pay the costs associated with hiring permanent employees.

How Does Freelancing Help The Economy?

Freelancers provide a range of services from designing websites to writing articles to making videos. 

This means that there is more demand for these services and this drives up wages for these professions. Some surveys have found that freelancers earn more than employees in some cases!

What Types Of Skills Does It Require To Be A Freelancer?

To work as a freelancer, you need to know how to manage your own time effectively, how to meet deadlines, and how to communicate with clients effectively. 

In addition, you need good interpersonal skills so that you can build relationships with clients over time and also keep them happy while working with them on projects together!