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Gig Economy

How do Small Businesses Benefit from Gig Economy?

by

Malik Zakaria

|

December 11, 2018

As a small business owner, it can be difficult to reach the same level of success as a larger corporation on the market. There are various issues to contend with in a competitive marketplace. Costs need to be kept to a minimum, while promoting internal and external growth of your company in new and exciting ways, and offering fresh services and solutions to clients. If you become stagnant within the market, then your business will be forgotten and replaced with a fiercer and more active competitor. Running a small business is in many respects a balancing act.

What’s the solution to this dilemma? One component includes utilizing the gig economy, which has been a solution that small business owners have seen great benefits from. By hiring freelancers instead of full-time workers on permanent contracts, small businesses are able to cut spending in their company through a more flexible business model. Through this article, we will address the practical applications of the gig economy and how your business can benefit from hiring freelancer engineers.

Issue: Lack of Resources

It’s fair to say that the resources of small companies are often remarkably limited. This means that small businesses might struggle to offer the same quality service as competitors. Turnaround times may be slow and the wait times for clients to get the service that they need are a lot longer than they should be. Issues like this can cause clients to switch to a competing business. A common symptom of a lack of resources is the inability to afford the latest tech support to keep customers satisfied and up to date with the progress on the project or job that they have ordered.

Small businesses commonly employ full-time workers to meet project-based needs and this is an unnecessary expense. Instead, it’s best for small businesses to hire freelancers. With freelancers, you can get the expert services and solutions you need when you want them. You can choose the freelancers that meet your individual requirements and who will deliver the best solution to your clients. For instance, you might have a client in a rural area. With freelancers, you can find an engineer who is close by and ensure that they can deliver a service without a long wait. These individuals will be highly trained and ready to handle any jobs that you require completing. When you hire freelancers, you are in complete control and can get the right person for the job every time.

However, it’s not just about delivering an efficient service. Small companies can struggle to get the resources and technology to complete jobs effectively. Freelancers have their own technology and individual resources they need for projects. This level of preparedness makes your company easier to manage and handle even with low levels of resources available. Find freelance engineers for your projects and start transforming your business with an on-demand workforce!


Issue: Rapid Growth

It’s crucial that small businesses keep moving forward and expanding in exciting directions. However, the danger here is that you can grow at a higher rate than your business model can manage. If this occurs, there could be issues with the quality of your service, efficiency levels or even cost. Business owners need to make sure that prices stay low, quality levels remain high and that services are delivered at a rapid pace as you continue to expand your company. Hiring employees for your small business can be a time-consuming process that requires various different considerations. For instance, you will need to consider HR issues that could have an impact here. However, this won’t be a problem with freelancers.

While growing a permanent team of staff can be a slow and arduous process, growing a temporary team can be accomplished in minutes. You don’t have to sit through hours of interviews. Instead, you can search online, find the profile of the freelancer you like operating in the gig economy and hire them immediately. You also gain complete control over your business contracts and this means that you can choose exactly how long you work with an individual engineer. Temp contracts are easier to manage and keep your business model flexible, which is exactly what you want when your business grows at unprecedented rates. Using freelancers, rather than hiring employees for your small company is easier and you’ll find high levels of growth can be handled effectively.

Issue: Limited Skillset

The staff small businesses commonly employ often have a limited skill set. This is potentially because business owners attempt to cut costs by avoiding hiring the best and potentially the most expensive workers on the market. While cutting spending does make sense, ensuring you have a team with a strong skill set will mean you can take on different types of jobs and projects from clients, delivering a superior service. Of course, again you need to balance this possibility with the money you’ll need to spend monthly to have a permanent team of skilled workers onsite. With the gig economy, you can gain access to an unlimited team of workers all with different skills that could benefit your business and your clients. You’ll be able to choose which worker is right for every project and always offer clients a staff with the skills they need for virtually any engineering work.


Issue: Maintaining Budget & Overhead Costs

Additionally, by relying on freelancers, small business owners can dramatically reduce the costs in your business model. Hiring full-time workers can cost a fortune and we’re not just talking about the amount you’ll need to pay in wages. You need to think about incentives, bonuses along with employee resources.

If you’re looking for hiring tips for small businesses, you should always be focused on finding the best workers for your team. But, you also need to consider how small businesses can save money. With freelancers you can do both, avoiding the hidden costs of hiring a business team, while still gaining access to quality, expert and experienced workers who you can rely on.

The bottom line is that you can circumvent traditional hiring hurdles and save money by hiring freelance engineers for your small business. Tap into the gig economy today with Field Engineer & be amazed by the immediate results it provides to your business.

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