20 Surprising Stats About the Gig Economy

woman at a coffee shop with headphones working on a laptop

 

From Small Business Trends, Paul Chaney shares twenty statistics about the gig economy including some interesting global statistics.  Paul also identifies technology as a driving force and challenges freelancers face. Paul writes:

Technology as the Driving Force

Technology has made it easier than ever before to enter the gig economy.

Mobile devices have untethered workers from their desks; social media now connects people across borders, and online freelance marketplaces make finding work easier.

  • 87 percent of Millennials say their smartphone never leaves their side, night or day.
  • Nearly half (45 percent) use personal smartphones for work (vs. 18 percent for older generations).
  • Some 41 percent are likely to download applications to use for work purposes in the next 12 months and use their own money to pay for them.
  • 80 percent use social media as a means of finding work.

Challenges Freelancers Face

As appealing as the “freedom economy” sounds, significant challenges have to be faced that include marketing, cash flow, business management and healthcare costs.

  • 63 percent of those interviewed in the report say marketing is the most important expense to grow their business.
  • 57 percent report experiencing cash flow issues at times during the year.
  • 64 percent use some form of project management software.
  • 70 percent use software to track finances.
  • 40 percent prefer to get paid via direct deposit versus other forms (e.g., check, PayPal).

Read the full story at 20 Surprising Stats About the Gig Economy

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