How Gig Economy Helps Small Businesses to Grow By Shanul Tiwari

 How Gig Economy Helps Small Businesses to Grow?

By Shanul Tiwari    

Social distancing and huge economic losses have shuttered many small and micro-businesses. Over 82% of small businesses have faced unpleasant impacts, and 70% contemplated that a year will be required to recover demand levels before coronavirus, claimed Dun and Bradstreet. 

Due to the pandemic, the “Gig economy” escalated and played a paramount role, moreover providing the best solution to small businesses, as here specialized experts are readily available. If you haven’t heard of the gig economy, it’s actually a set of freelance workers, who moved from traditional 9-5 working to project-based or specific task jobs, that are commonly for a short period. These workers have a diverse combination of professional skills, backgrounds, and experiences, which is much needed to levitate any business.   

One of the best examples of the gig economy is Fiverr, which provides professionals a platform to advertise their gigs and let visitors buy any specific service for the cost of just one project, for instance, designing a website.  

Let's see how the gig economy helps small businesses to grow from the following points: -

 1. Range Of Talent/Resources 

The gig economy comprises a broad range of job categories. Some common platforms like Upwork and Fiverr cover a wide range of work where you can get the right talent and resources for your company at an affordable range. 

2. Rapid Growth 

The Gig economy helps small businesses to grow extensively. It allows the small businesses to get all essential requirements for their company regularly or occasionally. It provides flexibility and more productivity for small businesses.

As technology is changing day by day, in addition, company also need to adjust according to the change, so the gig economy is the ultimate solution. 

3. Maintaining Budget

 

The Gig economy helps you to maintain your budget anytime per your convenience. It originally provide freelance workers who can work when you need them. It means you don’t have to worry to hire full-time workers and paying them salaries regardless of your company's conditions. By this, you can utilise your capital effectively even in a bad situation.

 

4. Gig Economy allows for more personalized customer service

 

As a small business owner, having customers is very crucial, either in large size or small. However, the more hectic task is to maintain the potential of customers. With the help of the gig economy, you can provide more personalised customer service to your customer and ultimately this helps your company to maintain the number of customers. Gig economic understand your customer's need, and can provide you with the right work and solution.

 

 

5. Gig Economy allows for small businesses to expand globally.

 

The gig economy opens the door to labour from all around the world. It helps businesses to expand globally. It also connects talented workers, technology, and innovation with small businesses in one place. It can be a game-changer for all small businesses.

Shanul Tiwari  

Jaipur, Rajasthan