Why a Recession is Great Time to Go Freelance
Posted in Changing Career
The stock market crashes at an alarming fashion. Government bailouts fail. Rate cuts, depressions and recessions. These are the words the mainstream media have been serving us for breakfast, lunch, and dinner in the past weeks.
The recession (some people are still in the denial stage) we are in may get you to wondering about why 9-to-5 employees are trembling and why freelancers generally do not seem affected at all. In fact, many freelancers look at the recession as a great opportunity for their careers.
Why the freelancing thrives in a recession
Most freelancers will tell you that a recession is the perfect time to start a freelance career. There are many reasons freelance industry thrives in this hard time. For one, more large companies and organizations are now laying off left and right permanent employees.
Since many companies need things to be done but avoid hiring gull-time employees or go through high-priced agencies, they are increasingly turning to the services offered by freelance professionals.
So to answer the question, freelance professionals tend to do very well in a recession simply because more companies need them. Freelancers are in-demand because they save the companies on employee overhead.
Companies don't have to pay healthcare and other related benefits or long-term employment issues. Contracting out some work to freelance professionals is also cheaper for some companies because it saves them office space.
The downside, however, is that as the unemployment rate skyrockets to an all-time high, more and more people who lost their jobs enter the freelancing world. This poses a problem because competition increases. Many blog articles even have this opening line: "Worried about a recession? Then it may be time to go freelance."
Getting started
When you decide to try your hand at freelancing, getting started has never been easier. You don't even have to quit your job. The first step is for you to find a reputable and credible freelance community such as GoFreelance.
Then search for a freelance work that may interest you. There are several freelance communities out there that offer literally thousands of different jobs. All you need to do is to find the one that suits your goals and interests.
Becoming a freelance professional
Once you've found the work that interests you, you will have to compete with other freelancers on the available assignment by applying or bidding. Don't sulk if you're not chosen for every project. With so many available assignments, you will certainly find just the perfect project for you.
Work diligently, finish your tasks, and then receive your payment. It's as easy as that. You will gain a distinction as a freelance professional eventually. In a recession, freelance professionals are the workers of choice.
