📆The four-day week as the new reality

👍While discussions about a four-day workweek for employees are widespread, freelancers have long practised this theoretically-viable reality. According to a freelancermap survey, 20% of respondents work only four or even fewer days a week, benefiting from flexible work structures, control over their working hours, and quicker adaptability.

🔵Freelancers can work more efficiently and achieve their revenue goals with less time invested.

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💻Growing importance of soft skills

➡️In an era dominated by remote work, artificial intelligence, and new technologies, soft skills and interpersonal aspects are becoming as important as technical expertise.

👕LinkedIn USA confirms this shift, with nearly half of 2000 surveyed employers lowering their requirements for hard skills while placing more emphasis on soft skills such as communication and teamwork.

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💻35.5% of freelancers are working from Europe.

🔵When we consider the number of freelancers in the world and their location, Europe might just be the cradle of freelancers with over one-third operating from there. Freelance statistics show that 29.2% of the global freelance community is concentrated in Latin America and 28% are in Asia.

➡️The remaining 10.1% of the freelance workforce is on the African continent.

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💻Freelancers see North America as their biggest client pool.

Freelancer statistics obtained in a recent study by Payoneer show that the majority of freelancers (36%) have clients across North America, with Europe taking second place with 27%.

🙂At the other end of the spectrum were Africa (4%), the Middle East (5%), and Australia (7%) as the regions with the fewest clients.

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💘50% of freelancers in the US are Gen Zers.

📌With 50%, according to Generation Z statistics, this age group dominates the American freelance market. Freelancer statistics further indicate that 44% are people aged 23-38, i.e. Millennials, while 30% are Gen Xers.

⚡️What is interesting though is that although freelancing is a relatively new trend, Baby Boomers (55+) are also playing the game with 20% working on the free market.

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🚀67% of freelancers typically complete up to 3 projects per year.

💻While working on an average of 3 projects seems to be the strategy of choice for 67% of freelancers worldwide, freelancing statistics for the remainder of the spectrum are equally interesting. Delving into 10 or more projects per year is a feat only 8% of freelancers attempt.

🎥The percentage of freelancers that separate their time between 5 and 9 projects comes in at 12%, and approximately 21% of freelancers only opt to work on one project a year.

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🔵Global Freelancing Market Stats

➡️Almost half of workers worldwide are freelancers (World Bank)

World Bank data shows that 46.7% of all workers worldwide are self-employed.

➡️The total number of freelancers globally is estimated to be 1.57 billion people out of a total global workforce of 3.38 billion.

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🔵Worldwide, freelancers earn an average of $21 per hour

➡️The hourly rate for freelancers averages $21 per hour

🔥On average, freelancers working in web/mobile development, marketing, legal, accounting, and other skilled services earn $28 per hour. This rate is higher than 70% of all hourly wages in the US.

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🔵Freelance Platforms Software Statistics

51% – web, mobile, and software development 46% – marketing.

➡️Freelancing statistics show 65% of freelancers use software or other tech project management and daily operators while around half use these resources for accounting, taxes, and personal assistance or scheduling.

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⭐️Staffing Firms vs. Freelancers

So what is the culmination of all this partnership among freelancers and digital transformation over the years?

💫It all paid off handsomely, to the point that hiring managers now prefer independent talent rather than those provided by staffing firms for the following reasons:

📌62% – to complete projects faster
📌55% – to reduce costs
📌49% – access to highly skilled quality talent
📌49% – to increase transparency in the process

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⚡️Am I A Freelancer, Sole Trader Or Self Employed?

🎥A common problem for those who take the leap from employment into being their own boss is wondering how to describe themselves. Am I suddenly a CEO of something? The MD? A freelancer? Something else?

🎥They all exist in the same professional realm, so the terms do overlap but there are nuances between them which are important to note for legal and financial reasons.

❗️What does it mean to be self-employed?

💫As the name implies, being self-employed is where you work for yourself rather than as an employee of someone else. Self-employment means you own your own business and are responsible for your own income.

💫Self-employed business owners may also employ staff and be responsible for paying their wages (and relevant employee contributions like National Insurance and pension) too.

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