Economic Trends That Affect Freelancer

The economy is highly torpid, but that doesn’t mean there isn’t a market for your skills. Many people have twisted to freelancing as a way to fill the gap left by the dearth of well-paying jobs in the country. Economic trends have a direct impact on regular office jobs and well suited for a freelancer, but also have an effect on the freelance front. Regrettably, there is a lot of news about layoffs, companies in trouble and people losing their jobs, and to top it all off-prices going up. Definitely, waves in the economy would make any freelancer nervous. Here are three major trends that you should be aware of to keep your freelance portfolio on the top.

 

The Recession won’t be over till we raise a generation

that knows how to live on what they’ve got.

                                     – Unknown

 

Quality does matter irrespective of the kind of career you pick. Be a Project Manager of an MNC or a simple writer working as a freelancer, quality scores. If your work is riddled with too many grammatical errors, you will have a hard time being a freelance writer. The crisp and professional combo is preferred than the fast and cluttered one. Paying attention to the quality of work does make a difference in the pay. Improving your quality might include reading books/articles, taking more time on each project, or just practicing. Automatically, these attempts need a lot of interest and involvement. But if those freelancers don’t deliver these mandatory features, they won’t be hired again. A reliable freelancer, on the other hand, has a huge value to the companies that they work for. They are likely to find themselves in demand, more than ever.

 

 

More Freelancers. Organisations are laying people off, but they still have worked what needs to be done. There are usually two basic ways a company divides its workload after a layoff. Increase the workload of existing employees from kilos to tons and/or outsource to temporary workers, including freelancers. While increasing the workload is the primary change that the existing employees would experience, there’s a limit to how much more work an employee can take on and still remain effective, which in turn becomes a happy news for freelancers.

 

If there is any temporary or urgent project, freelancers get some real opportunities to experiment their talents on. This creates the heat between the n number of the already existing freelancers. However, the increase in freelancers is coming largely from three sources like people who lost their jobs and jumped into freelancing, fresh graduates who give up on finding traditional employment, increased exposure of freelancing. Naturally, some of these newcomers are quite talented and well-prepared. Hence, these individuals are likely to succeed in their freelancing careers.

 

However, due to the economy, a large number of new freelancers are driven by desperation. Besides the fact that they are not well-prepared, they believe it is their only practical option. When the economy improves, a majority of the unprepared freelancers will ultimately return to their respective traditional workplace.

 

 

No guarantee. The final and the most significant point is the guarantee issue. The economy scares us; in fact, everyone in business needs to be aware of the economic factors that might influence them. However, the economy is not a reason to panic.

 

While you may think that returning to a traditional job is more secure, remember that there are no guarantees. Even traditional employees lose their jobs. In my point of view, owning a freelance business is more secure than this so-called traditional employment because you’re not tied to a single entity to earn for your survival.

 

 

After taking these three major factors into consideration, you should be able to set a range for yourself and choose sides. Happy Freelancing!

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