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The Freelance Marketplace in This Economic Climate

 

The number of individuals working as freelancers is steadily increasing across the United States and in the world. A lot of business experts believe that the freelance marketplace will continue to grow at a strong rate in t he next couple of years. If you are currently working as a freelancer or considering yourself to be a part of this industry, then it would be important for you to know where freelancing is heading.

The Changing Organizational Trends

The current workforce is not the same as it was in earlier years. There has been a significant demise when it comes to 'jobs for life' ethos among professionals these days. Many individuals have experienced the first hand consequences of replacing employees with technology or companies outsourcing to other countries where wage costs are less. Organizational downsizing has indeed helped shaped a new culture where individuals are looking for income opportunities where they can be in control of their job commitments and career development path.

The Recent Freelancing Community

It is not only the organizational behavior that creates a strong impact in the workforce trend. It is perhaps through a need or a change in cultural norms that the society is moving away from believing that working as an employee is the best choice available. Nowadays, there are many individuals who seek the benefit in working for themselves and being their own boss. Being a freelancer allows them to have flexible working hours and more control over their own work. Unknown to the general public, there are many independent contractors at present who are supporting both huge businesses and small medium enterprises.

Although the recent economic times have been tough for freelancers and regular employees, many business analysts foresee the freelance marketplace to be in demand for the next couple of years. Independent contractors provide companies with a flexible resource structure that fulfills a job without being a fixed cost burden to the business.

The Future Trends in Freelance Marketplace

Freelancing is slowly gaining popularity as more and more business are choosing independent contractors to fulfill outsourcing needs that are not frequently available in the permanent workforce. According to studies, there are two possible erupting trends in the freelance marketplace today.

  • SME owners need the knowledge and skills of freelancers now more than ever.
  • A lot of first world countries will depend on the SME industry to help it recover from the recent economic crisis. This will only mean more demand for freelancers and independent consultants.

Surveys conducted nationally have identified that almost 40% of freelancers are employed for managerial positions and 20% at directorial levels.

There is indeed no right or wrong time for you to go freelance if you are really willing to pursue it as the next big step in your career. The current market is always presenting you with opportunities. It is a matter of seeing those you are not familiar with and understanding your target market. As a freelancer, you should prepare to work in both good and bad economic climates.

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