Why the Gig Economy is growing rapidly
By: Alexander Lim
Tags: Freelancing, Economy, Tutoring, Freelancers, Economics

Why the Gig Economy is growing rapidly

Photo by Sam Lion from Pexels

With the rapid growth of technology and internet penetration, many people have the ability to work from home.

The gig economy is on the rise in all sectors and it is expected to be worth $6.7 trillion by 2025.

Also, with the rise of technology and social media, it has become easier to find small jobs that pay well online and offline.

The gig economy is already benefiting people of all ages in all walks of life. People have started to become their own boss and work on their own terms. They have the freedom to choose when and how they work.

It has been found that more than 40% of the American population works remotely, which means that they are part of the gig economy to a certain extent.

As the gig economy continues to grow, more and more people will choose to work on their own terms. Rather than working for big companies and organizations, they will turn towards the gig economy. This will give them the freedom and flexibility that they have always wanted. Hence, the gig economy will continue to grow in the future and will become more and more popular.

Is it good for the employees?

The gig economy is a lucrative platform for people to build their personal brand and develop a side income. Even though, someone is making money on the side, it doesn’t mean that the work is easy. Many online gig economy jobs require some type of skill or knowledge for completing a task. For instance, if you have good writing skills, you can make some cash as an online content writer or blogger. If you are good in Photoshop, you can do work as a graphic designer.

Is it good for employers?

Gig economy platforms are changing the way how business is done. There are no contracts or long-term commitments from both parties which increases collaboration and efficiency to complete task quickly and easily. Also, no late payments or payroll taxes since all transactions are made digitally through online platforms like PayPal and Stripe. That means less hassle and more profit.

Is it good for the community?

The gig economy is a great way to get people connected and help them find jobs in their area. If you are working on a part-time, or full-time basis, you can build your own brand online and offline. If you are a skilled worker, you can use your skills to make money from people who need help with their projects. For example, if you are a handyman, you can do small jobs like installing cabinets in your neighborhood.

Final thoughts

The gig economy is growing rapidly since it offers flexibility to both employees and employers. Also, it gives people the ability to build their skills through online jobs. If you are looking for a side job or extra money on the side, it is a good idea to jump aboard and see what this ride has in store for you. Why not teach a skill or a subject on Cudy?

About Me

I am the Founder of Cudy Technologies (www.cudy.co), a full-stack EdTech startup helping teachers and students teach and learn better. I am also a mentor and angel investor in other Startups of my other interests (Proptech, Fintech, HRtech, Ride-hailing, C2C marketplaces and SaaS). You can also find me on Cudy for early-stage Startup Founder mentorship and advice.



I am also a frequent writer on Medium, covering topics relating to Education, Startups, Founder Advice and Fundraising. You can follow my posts at http://alexanderlhk.medium.com/