Why now is the perfect time to work for yourself?

In the year ending June 20th, 2019, Simply Business revealed that the number of freelancers in the UK had surged by a whopping 31%.

There are various reasons for this, many of which have combined to create significant demand for remote workers across a diverse range of industries.

So, while there have always been multiple benefits to working for yourself, now is arguably the ideal time to leverage your skills as an independent freelancer. But why is this the case?

1. The Rise of Advanced and Accessible Technology

Let’s start with the basics; as there can be little doubt that the world has been gripped by technological advancement throughout the digital age.

The upshot of this is that even advanced technologies (such as big data, AI, and predictive analytics) have become increasingly accessible, enabling freelancers and small business startups to compete more aggressively in their chosen marketplace.

The best example of this lies with the forex market, where technology and innovation have gradually eroded the barriers to entry that once surrounded this space.

More specifically, part-time and freelance traders can now gain practical market experience through a forex demo account, before leveraging advanced indicators and analytical tools to make more informed decisions.

2. The Global Labour Market has Changed

It was the great recession of 2008 that created the world’s first generation of accidental entrepreneurs, changing the shape and nature of the labour market across the globe.

Arguably, the socio-economic impact of COVID-19 will compound this trend, with remote working becoming increasingly viable and businesses continually inclined to create agile and temporary workforces.

In this respect, the demand for remote workers and freelancers continues to rise exponentially, while the potential long-term impact of the coronavirus could well see this trend continue.

At the same time, the global economy is becoming increasingly reliant on freelancers in the digital age, creating a unique window of opportunities to make their mark.

3. The Freelance Economy is Diversifying Every Day

Historically, freelancing was largely considered from the perspective of remote work and technology-driven roles, such as software development, copywriting, and website design.

This perception is continuing to change, however, as the freelance economy continues to evolve and incorporate a wider range of industries.

For example, a growing number of people have sought to become dog walkers since 2018, with a 60% year-on-year increase in requests for insurance having been reported.

Beauticians and homebakers have also seen exponential growth in recent times, demonstrating annual increases of 159% and 68% in 2019.