Alternatives flourish in an unstable job market
One of Payza’s goals is to provide self-employed professionals with a convenient and inexpensive option to receive payments from clients and employers wherever they happen to be, around the corner or around the world. If you’re a freelancer you’ll probably be interested in our other articles:
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Workers today are in a unique position. The job market continues to suffer from the economic fallout that resulted from the global financial crisis of 2007–2008, but the tools for finding employment and working remotely are more accessible and versatile than ever. In light of these unique circumstances, a new culture of freelancing is taking form.
The concept of freelancing, which gives workers the freedom to perform their jobs, where and how they see fit, has become a very realistic and reliable option for jobseekers, in large part due to the growing market of online freelancing. Online freelancing has soared with the help of websites, such as microWorkers.com, where freelancers can post their profiles and portfolios for businesses to consult, collaborate and engage with.
According to Elance’s Global Business Survey 2012, “84% of businesses said that hiring online gives them an advantage over competitors.” These advantages include cost savings, faster time-to-hire, and access to talent not otherwise available. The most sought-after freelancing specialists are in technology, such as web and mobile programmers and graphic designers. The writing and content services industry, which includes translators and content creators, is also in high demand.
Freelancing in Developing Countries
According to this report, the U.S., India and Pakistan employ the most freelancers. But because of the nature of freelancing, it doesn’t necessarily matter where you live in order to work for employers based in these countries. More and more people from developing countries are turning to freelancing in order to make a solid living or supplement their income. This helps to significantly bolster the economy of emerging markets.
Freelancing is not only beneficial to the individual, but also to the economy that surrounds them. It has become a global money-making option that appeals to a diverse range of countries from the US to Bangladesh, to the Philippines. The website Freelancer.com, which has a dedicated freelancer.ph domain for the Philippines, has helped over 170,000 Filipinos by providing a place for them to do business. According to a May 2013 poll by Bayt.com, “State of the Freelance Market in the MENA Region,” 7 out of 10 professionals in the Middle East and North Africa think freelancing is a viable career option.
Freelancing has become a very lucrative sector in Bangladesh, bringing over $100 million per year into the local economy. High tech freelancing has received major support from the government and the Bangladesh Association of Software and Information Services (BASIS). According to Mohsin Kabir, a freelance software developer, an IT specialist in Bangladesh can earn a monthly salary of $770 to $1,025 (Tk 60,000 to 80,000) through freelancing alone, above the average salary for a specialist in the country.
Is Freelancing for You?
The growth of freelancing is partly due to the benefits that come from both being and hiring a freelancer. For workers, these benefits include the freedom to make your own schedule, be your own boss, and follow your true passion. A freelancer has the flexibility to make their own creative and professional decisions, rather than fitting into someone else’s mold. The survey, “The State of the Freelance Market – September 2012” states that 79% of freelancers are more productive working as a freelancer than a full-time employee. About 19% of those surveyed work the equivalent of full-time hours, with only 14% working over the 40 hour week. More than 50% of freelancers have reported income increases in 2012, with an average increase of 47%.
Having the accessibility to bring freelancers and employers together online has opened many doors, not just for freelancers but for the companies and individuals in search of these services. With sites dedicated to this growing community, finding freelancers is easy and reliable.
How Payza can Help
Payza offers a wide range of versatile and cost-effective tools and services, many of which are incredibly useful for freelancers. No matter what type of freelance work you specialize in, if you’re looking for a way to expand your client base and you’d like a secure option to process client payments, Payza can help. We provide a user-friendly online payment platform that makes it easy for you to get paid by your clients. We offer services in over 190 countries, which means you’ll be able to take on work from just about anywhere in the world.