What is the gig economy?

The phrase ‘gig economy’ is being thrown around a lot lately, but what does it even mean?

It’s been more popular, sooner, overseas than here in Australia but it’s gaining traction quickly in our part of the world.

Intuit released some data recently that predicted an enormous growth in the number of workers in the gig economy. Their prediction is the workforce will more than double in size by 2020 from 3.2 million to 7.6 million - huge numbers!

It’s important to note that the types of roles that fit within the realms of gig economy vary - it can be anything from cleaners, to Uber drives, to accountants, to recruiters, to creatives. The thing that brings them all together is the fact that all of the individuals are choosing when they work, where they work, and how they work - a huge shift away from the traditional working model.

Although it’s a relatively new concept, there is already a range of resources and support available for individuals choosing to work this way.

Accounting platforms such as Rounded have been developed specifically with freelancers in mind. It takes away all of the complex, unnecessary features of traditional accounting system and replaces them with simple and powerful tools to support freelancers in managing their business finances.

Communication platforms such as Skype, Slack and the like support gig workers. Face-to-face meetings become redundant when meetings can be held via videoconference. Phone calls become redundant when instant messages can be sent between people.

Of course, the gig economy won’t suit everyone, and it won’t suit every industry. But if you’re finding yourself stifled and restricted by the traditional working model, it might be something worth considering.