Why 2021 is a great time to start a freelancing business

With the desire for working on own terms, starting a freelance business has become an attractive prospect. Know why 2021 is a great time to start a freelancing business.
Published, 4 months ago

With the wrath of Covid-19 in 2020 we have embraced, experienced and emancipated through a whole lot of ups and downs. Creating a huge slump in the economic charts Covid has changed the perspective of how unprecedented our lives are. 

Someone wise said ‘deeper the darkness, brighter the light’ making us realize how in these times of endurance we still can dream and do what we are supposed to. There are numerous start-ups that commenced during a recession period like Microsoft, which started in between 1973 and 1975 Oil Embargo Recession or Uber and Airbnb, which started in between 2007 to 2009’s Great Recession. 

With all the examples and motivations bestowed, the question still arises that why the pandemic struck 2021 is a great time to start a freelancing business? If you ask this question to 10 different people, I’m pretty sure 8 out of them would think that you have lost your mind being cooped up in your house for too long. Let us assure you, they are wrong in every sense of way. 

Let us put this in perspective, say you invest in stocks, you will wait till any particular stock takes a dip and then you invest your money hoping that stock would eventually rise up bullish. Here the dip is the recession of 2021, your investment in stock is your investment in your start-up and voila, the start-up booms in the near future making it worth taking the risk. 

Why freelancing?

Before the world was struck with this catastrophe, freelancing was extremely underrated as a choice of career. But this work-from-home era has changed the freelancing game as a whole. It is not difficult to become a freelancer, here is how you can do the same.

Prior to the CoronaVirus, it was easy for companies to hire any short-term employee on a contract for execution of a specific kind of job but, as everyone is forced to work from home the dynamics have changed and this has led to the rise of freelancers. 

Freelancing Business

Advantages 

As a freelancer the most prominent factor is the flexible timings. You want to start working at 12 in the afternoon, you can do it. This helps you to take up more projects as well. 

With the exclusiveness of your skills and niche in the client’s company, you have a leverage over them and hence, you can charge a fairly good amount for working for them. 

Every single project you execute is like a certificate you’ll receive for completing a major internship in that client’s company. The more projects you do, the more your credentials get polished and your profile will be preferred first by many who seek freelancers. 

If you are a single mother who had to quit her job in this dire time, freelancing is the best opportunity for you to earn a steady income and take care of your child at the same time. 

Freelancing is extremely feasible as all you need is a working set up like a laptop or a PC and a good internet connection to do most of your freelancing job. The utilities that are required are probably already with you as you would have bought them while studying the niche you freelance for. 

The most important and prominent advantage is how you are free and do not have that tag of ‘employee’ or someone who is working for someone or under someone. As a freelancer you are your own boss. Making decisions, changes and taking up work load depends upon you and who you deal with those factors also defines you as a freelancer. 

advantages of freelancing

Disadvantages 

Yes! There are disadvantages of becoming a freelancer in 2021 but they tend to diminish with the experience you gain. 

There is a big potential in freelancing to earn huge amounts of money yet, if you don’t know which job to take then you might waste your time and energy in a low paying project. 

Being your own boss is great but the responsibilities also pile up which are never an issue for a regular employee. 

The tax burden is also a big disadvantage as in a full-time job, you as an employee are supposed to divide the tax payment with your employer in two halves. But as you are self-employed, the burden of both the halves falls upon you. 

disadvantages of freelancing

Analysis 

So, when we analyse all the advantages and disadvantages there are, when push comes to shove freelancing would be the best opportunity for you to keep your stomach happy in 2021. 

The pros are dominant over the cons because the maximum number of disadvantages are inconsistent as they rule out with time and experience in a freelancer’s career. You’ll know which project to take and how much you are worth once you have gained enough experience in your field. 

Many experts believe that in the post-pandemic era, the working dynamics would favour the freelance community more than the employees because of the current working ways of the company. They have realized that hiring a freelancer for a short-term project is more advantageous as they get professional results and don’t have to spend their time and money to monitor and ward them on a regular basis. 

The need for freelancers has risen in mid-2020 in ways that no one would have ever thought. The underdogs have become a significant factor in keeping the workflow of many companies intact. 

ananlysis of freelancing

Wrapping up

Many have faced huge losses in the times of Covid-19 it may be personal or professional. Yet somehow, we are trying to find purpose to strive through these hard times. Many people out there lost their jobs and got stuck in a slump. 

To find the opportunity to fight back and provide your family with the basic needs became a challenge. Freelancing in 2021 has proven to be the best career option for most people who lost their jobs. 

While dealing with multiple companies at once and more importantly doing what you are actually good at on a regular basis has made freelancing a satisfying option for a huge number of people. 

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