The Gig Economy: Three Things You Must Know About Gig Economy

The Gig Economy: Three Things You Must Know About Gig Economy

things to know about the gig economy

The concept of the “gig economy” is not alien.

Gig workers have been around and have operated as handymen, tutors, writers, musicians, etc.  If you have ever done or are currently doing a part-time or daily paid job, you are operating entirely in the gig economy. What’s new about the gig economy concept is that technology has helped it creep into other white-collar industries and professions such as finance, law, healthcare, technology, etc. Technology has changed the game.

The concept of selling gigs has been redefined in a way that it has become a corporate entity and very well sought after. It has become a profession on its own.

As a freelance writer, when you ask me what I do? I will proudly tell you that I am a gig seller. I sell gigs on Fiverr. 

What then is a Gig?

There is no officially announced and accepted meaning for a gig. But for this article, a gig represents any single task or project for which a worker is hired through a digital marketplace to tender on demand. The switch to gig work is about convenience and ease of work. It is simply employers moving to what is more convenient and efficient for them.

Though the naysayers have argued that the gig economy creates job insecurity, the gig economy is the future of careers in the 21st century and beyond. All thanks to its “boundarylessness” (the ability to work from any part of the world.) “Portfolio” (working on different projects for different persons or organizations at the same time.) And adjustable (worker innovating and reinventing to fit in for the job of his choice) tendencies.

What Business Can You Do in the Gig Economy?

The out break of the covid-19 pandemic has vindicated the believers and propounders of the gig economy. Every business is now looking for ways to get their products and services online. Both skilled and unskilled individuals now assume the roles of professionals on the go. The lock down across the globe made it so easier.

However, experts have recommended that one of the surest ways to make it big in the gig economy is to identify what you do well. What you are passionate about, and what you might enjoy doing. Then, search for opportunities in the digital marketplaces. Here are the three things you must know about the gig economy if you want to hit big in this trend either as a buyer or a seller.

  1. The gig economy has come to stay

The gig economy is a millennial business model. It has come to stay because what you are expected to offer as a gig is your passion, talent, and hobby. You do not need any college or university qualification to earn a living any longer. There have been so many arguments about How School Trains Us To Fail In The Real World. This article by Stephen Guise will convince you of that. The excited users of gig-economy apps and services, whether they are branding their businesses or personal identities, sorting out their laundry, ordering for articles and takeaway food or receiving the delivery, have never been less grateful for the ease of doing work.

  1. New ways of working

The gig economy is a brainchild of technology and innovation. It is worthy of note that the difference between the workers in the gig economy and those on zero-hours contracts is not much. The significant difference is that while the zero hour contractor is rushing to an office, a gig economy worker may decide to work from the comfort of a bed (depending on the task at hand). The gig economy gives the freedom to make money with your time, even at your leisure from different people and any from part of the world. All that you will need is a Smartphone or computer then an internet connection.

In a recent survey, there have been a tremendous increase in new matchmaking freelancing platforms, where Freelancers sign up to present their profiles in a professional manner to interested clients. These freelancing platforms  also help companies to find the perfect freelancer to hire within a few minutes. These freelancing platforms have made finding freelance jobs easier and even faster than the traditional office jobs. The most thrilling thing about freelancing is that a freelancer can work from anywhere in the world.

  1. It has the tendency to intervene in the migration crises in Europe and America.

Outside abuses, war, and other civil vices, one of the biggest drivers of migration is the search for greener pastures and white-collar jobs. Look at it this way, when an African whose major aim for seeking for a visa is to go work in New York or London finds a way of doing that from his little village and still earn in US dollars or GB pounds still want to go through telling lies or pretense for a visa? Your guess is as good as mine.


By 2050, the gig economy would have ranked as the monster that has swallowed unemployment because of its flexibility, variety, and the ease it gives to work. The gig economy has made Freelancing become the accepted norm of the startup world because more startups continue to use the millions of freelancers.  Everyday, more and more people are eager to join the freelancer generation. Recenttly  research states disclosed that more than 53 million (almost 54 Million) have joined freelancing in the U.S. Techcrunch also recorded that more than one-third of the workers in the U.S have worked as a freelancer  in the past year. Compared to the past year, that’s more than 700,000 new freelancers.

Welcome to the gig economy!

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8 Responses

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