Benefits and Risks Associated With Being a Freelancer

Freelancing is increasingly becoming an employment route for many people worldwide. It involves taking jobs from different employers at different or at the same time without committing to a specific employer on a longterm basis. The popularity of freelancing today is attributable to the widespread of the internet. Leveraging on this, several platforms such as Upwork, Fiverr, Guru, and PeoplePerHour, Freelancer, and others have made it big by connecting clients and freelancers worldwide.

Typically, someone posts a job on these platforms with their budgets and requirements, and qualified freelancers bid on the job. The client reviews all or some of these applications and then approves one or more freelancers to take up the job. For security purposes, most freelancing platforms will ask employers to create and fund a milestone before freelancers commence work. Upon completion of the work by the freelancer, the employer approves the milestone, and the freelancer receives their payments.

If the work is satisfactory, the employer may assign another work to the freelancer, or he/she begins to search for another job in the freelance marketplace again. There are review systems where an employer rates the performance of the freelancer on a scale of one to five. If a freelancer gathers enough.

What Are the Benefits of Freelancing?

Many people who would have remained jobless have found freelancing a way out because many employers are now turning to it to get workers. At least 30% of the US workforce are freelancers. Millions of jobs are available every year, thereby allowing a lot of people to make ends meet. But that aside, the freedom that freelancing affords is worth mentioning. It is much as if you are your boss. You can plan when you want to work and even how; this is almost impossible in the traditional 9-5 work setting.

Most freelancers don’t require any formal experience to start applying for jobs, although having some can help. Also, no one would ask freelancers to submit certificates before registering on any platform, and this means that anyone that has a marketable skill can easily bid for a job and make money.

On the part of the employers, freelancing seems an easier and cheaper route in recruitment. They can get thousands of well-qualified people for a single job posting. For example, there are more than 12 million registered freelancers on Upwork alone. That’s quite a huge one, and employers can tap from this pool of brains.

The Risks and Demerits

As with anything done online, there is the risk of scamming with freelancing. Although most platforms put measures in place to curtail this, several scammers pretending to be employers dupe freelancers by refusing to pay at the end of each task. In some cases, fraudsters even hack into freelancer’s account and cart away with their earnings.

The major demerit that any experienced freelancer cannot but notice is the stiff competition. It is the custom to have more than 100 applicants for a job that needs one freelancer. What this means that getting picked to work not only depends on skills but also luck.

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