Making the move to freelancing can be very intimidating, but the numbers don’t lie –freelancing is growing more and more popular by the day. Thousands of people find freelancing to be stable, profitable, and even preferable to the traditional work they left behind. When it comes to taking the leap, you have to take everything you thought you knew about the world of freelancing and toss it out the window. New research over the last couple of years shows freelancing is growing rapidly, is more manageable than ever, and that people who freelance are happier and more secure than people who work in traditional jobs.
“The new economy is here – and it’s driven by freelancers,” says the Freelancer’s Union of America. Their research showed that more than 53 million Americans are doing some freelance work, and at 34% of the workforce that is a staggering number. Want to know something even more surprising? Those numbers are from a year ago, and since 2014 the number of freelancers has increased even more.
Of course there are all different kinds of freelancers, and part of the beauty of freelancing is that you can make it fit your lifestyle. Types of freelancers range from “moonlighters” who have a primary job and freelance on the side, who rank at 25% of the freelance population – to freelance business owners who rank at just 5% and have their own business which includes an employee or two but which they still consider freelance work. Jumping into freelancing doesn’t have to be an all or nothing game. Dipping your toes into the freelance waters can be a great way for people who are concerned about the risks to start taking advantage of the opportunities.
The flexibility of freelancing is part of the appeal, but it’s not the only advantage. At the end of the day, freelancing is work, and work should be profitable. In fact, according to MBO Partners, as of 2015, 2.9 million freelancers make more than $100,000 per year – a dramatic 45% increase since 2011. The potential earning power of freelancers is only growing, and the risk of not being able to “make it” is shrinking. As for the future, Contently conducted research that found that this year two thirds of freelancers say they are there to stay and plan to continue working as a freelancer for the next 10 years or more. 31% even said that if they were offered a traditional full time job, with identical pay plus benefits, they would not accept it.
Does this mean that freelancers are happier than people who work in traditional jobs? 67% of freelancers left the traditional model out of choice, meaning that they saw potential and opportunity and decided it was the best move for their careers and possibly their happiness. Half of the freelancers surveyed even said that they wouldn’t stop freelancing no matter how much money they were offered. Clearly there is something incredibly appealing and satisfying about the freelancing lifestyle and any challenges pale in comparison.
So what does all this growth mean for the future of freelancing? Luckily it’s good news all around. Forbes notes that with the percentage of freelancers exploding, and expected to rise to 50% of the workforce by the year 2020, employers are more and more interested in working with freelancers than with traditional employees, meaning that the traditional work environment is fading away and giving freelancers incredible growth potential. Freelancing is growing because freelancers are happy with their work, make a satisfying amount of money, and find the traditional model unappealing. For all of these reasons it’s clear that freelancing will continue to balloon in the future as it becomes a more and more attractive option for all kinds of people.
Freelancers are not just here to stay, they are changing the very nature of work itself. Change can be a frightening thing, but missing out on opportunities is even worse. As freelancing grows more and more common, now is the time to jump in and establish yourself as a trusted name in your industry. As the gig economy continues to grow, you want to be on the forefront, not a latecomer.
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