“What is a gig economy?” is a question many individuals inquire about these days as the economy continues to be in a state of recession. A gig economy is simply defined as any situation in which there is a surplus of resources (i.e. low supply and high demand) in any given geographic location. So if there are more people working at a job than the number of people who want or need that job, it can be considered a gig economy.
This definition is extremely broad, however, and covers virtually every job category. For example, freelance workers are independent contractors, usually on-site workforce, contracted through digital platforms such as freelancer sites or agencies. These workers typically enter into short-term contracts with on-site employers to provide specific services to the employer’s customers. These services could be very specialized, such as transcription, graphic design, programming, and research.
On-site freelance workers are typically not tied to any particular company. Instead they are self-employed independent contractors who work for one company on a specific project-based assignment. They can work on different projects, but their primary goal is to complete the project as quickly and efficiently as possible. Project-based workers can also be contracted through digital platforms such as freelancer sites or agencies to complete specific projects for an employer on a project-by-project basis.
The gig economy has been described as a micro-economy, or a localized version of a globalized economy. With gig economy workers are highly mobile and based in many different places around the world, they are not subject to long-term employment plans. In fact, many freelancers have jobs that are only a few weeks or months long. Additionally, many freelancers are willing to accept projects for money only if they have completed all of the requirements. This allows the freelancer to focus on the project instead of worrying about whether the job will be completed.
With the gig economy, many companies have begun to use independent contractors to complete certain tasks instead of hiring full-time employees. This process is known as “micro-sourcing.” For example, if a manufacturing company needs several computers to process customer orders, they might contract with an independent seller to build the computers, design the software, and train the employees at their own shop. By using independent workers to do the same tasks as a large corporation, companies save a significant amount of money on labor and overhead. According to the gig economy, this type of outsourcing saves companies over $1 billion a year.
According to studies, the gig economy has affected all industries, especially the freelancing sector. As more freelancers enter the workforce, companies have become more competitive in the marketplace. This has led to a parallel increase in freelancing rates, which has driven up fees charged by independent contractors. Many freelancers have taken to using their services to generate extra income for themselves and their families.
In fact, independent contractors find work by offering their talents to companies via the gig economy. When working as an independent contractor, individuals are responsible for their own marketing, search engine optimization, search engine submission, and website maintenance. Independent contractors have a tough time trying to survive in this cutthroat market, and some have even lost their businesses. However, through the use of apps like the Garagebotics app, independent contractors can take care of their marketing and optimization on their own, eliminating the need for the freelance worker to hire a company.
Many freelancers have taken to promoting themselves on digital platforms. For instance, the GarageBotics app allows freelancers to post information about their skills and talents on the digital platform, where anyone who wants to hire them can do so. The app also offers digital platforms for entrepreneurs to find digital platforms where they can pay independent workers. GarageBotics is one such app, and it is popular among many companies that are looking for someone to perform basic marketing functions. If you want a new career as a freelance worker or an independent contractor, the gig economy is an excellent choice.