The gig economy is thriving all around the globe. It can help small businesses with more than one aspect. Let’s read further to reveal its benefits and see who can help you with the right merchant loans to take your own financial
Merchant Loans & the Growth of Gig Economy
A gig economy can be described as a free market system featuring temporary positions and companies working with contractors for short-term engagements. According to Intuit and Emergent Research, the number of people with on-demand jobs will reach 9.2 million Americans by 2021 from 3.9 million in 2016.
Well, where does the name “gig” come from? The economy took this name from each piece of work being in accord with an individual “gig.” By the way, it was known as a “sharing economy” in the past.
What about your own business? Are you struggling to reach more success? One thing is certain: you can’t achieve more success without having access to the necessary business funding for your company.
Thankfully, there’re reputable alternative online lenders that offer safe ad cheap merchant loans you can apply for. Make sure the provider knows your industry best of all and provides business financing geared to your own specific wants and needs.
How Gig Economy Can Help Small Businesses
The gig economy is growing worldwide. Let’s see what benefits it offers to you, as a small business owner:
- Independent contractors require low minimum investment, thus providing more agility and cost-effectiveness.
- Gig workers keep you away from many administrative headaches.
- You get an opportunity to use outside perspective, thus being able to view old problems through fresh lenses.
- Paying gig workers the same hourly wage is 29.9% cheaper on average.
- The flexibility of scheduling improves employees’ work-life balance, morale, and health, thus resulting in greater productivity.
- Thanks to the extensive timing benefits you get from this type of cooperation, you can quickly capitalize on new opportunities.
- Gig workers develop a “holding environment” for their work. They feel more ownership.
So, the gig economy is revolutionizing the way people work and their perception of work. The above-mentioned points can help you get a better idea of how this type of economy can help your small business.
Author Bio: Michael Hollis is a Detroit native who now lives in Los Angeles. He is an account executive who has helped hundreds of business owners with their merchant loans solutions. He’s experimented with various occupations: computer programming, dog-training, scientificating… But his favorite job is the one he’s now doing full time — providing business funding for hard working business owners across the country.