Headed for a Recession? Then it is a Great Time for Freelance Work
Always wanted to go freelance? Then a recession is a great time to try it. Companies outsource during leaner times because they want to save some money and only want to pay for the work completed, not the employee benefits.
A lot of times, companies even hire freelance professionals who they had just laid off a few months before. From the big business point of view, there is an obvious benefit: they get a worker who’s not just experienced but who is familiar with the product and the business; they won’t have to pay any benefits; and when the work is completed, the company can just fire the freelancer all over again and without the paperwork or severance package.
However, it may also present opportunities for a new freelancer. If you have skills that they are looking for, a company is more likely to “try you out” as a freelance professional than they are to commit to you in an employer/employee relationship.
This may open up more freelance work in the future or possible long-term employment if they are pleased with your work.
Businesses also tend to cut back on non-essential full-time staff and hire someone to do the work that they don’t need on a daily basis. This may present many opportunities for the freelancer to do ongoing special projects.
Above all, in a recession, companies worry about their bottom line first.
As a freelance professional, that gives you the following advantages:
1. Now you are, in some ways, more valuable than an employee.
2. You suddenly can create stability for your income by having a number of different employers.
3. No one employer can make or break your business.
4. You can even charge more per hour than an employed worker to make up for benefits because, for company looking for projects done in the short-term, that extra amount is worth it.
So if you are serious about trying freelance work, now is a great time. For freelancers, recessions can also be great time to grow (or start) your business.
Ready to give it a try? Get your trial job pass at GoFreelance today!