Gig economy? Side Hustle? Freelance? What’s the difference?

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Gig economy?  Side Hustle?  Freelance?  What’s the difference?

These three buzzwords are hot in the new world of work and all mean essentially the same thing.  If you’re looking for extra income to supplement your full-time job, or you’re looking to create your own job, the gig economy provides great employment opportunities, flexibility and a way to get hired or create work and gain experience.

Gig/side hustle/freelance are all a type of self-employment – a work environment consisting of short-term jobs for a variety of customers.  Some people do it on a full-time basis, others have a ‘side hustle’ to supplement working for an employer.

Side hustle work tends to be doing things you’re passionate about or have specific skills, rather than your day job to pay the bills.  You work an office? Your ‘side hustle’ could be writing a vegan cooking blog since that’s the world you live day to day!  Your experience working with dogs could turn into your side hustle of puppy training classes nights and weekends.  Design custom clothing? Your Etsy shop is your way to sell them. The opportunities are endless.  ‘Freelancers’ often work on contract, on-call, or on a part-time basis for one or more companies.  Doing part-time bookkeeping or creating web content for a few small businesses could generate that extra income you need.

Social media and online web communities are a great way to find gigs and promote your services or products.  Some digital applications have created entire industries of service gig work that rely on the apps. Use a ride-sharing app?  Get food delivered?  These are perfect examples of app-based gigs.  These types of gig workers operate as independent contractors and can set their own rates and hours.

Individuals in the gig economy work as independent contractors, rather than as full-time employees of any one employer. They set their own rates for the services that they provide and handle their own benefits and taxes. Remember, you need to keep track of all that extra income and all invoices and receipts from gigs to accurately represent your business spending and earnings on your taxes.

So what’s the benefit of a side hustle?

  • The opportunity to pursue your dream job, without sacrificing the steady paycheck of a day job.
  • Flexibility in workplace and working hours including when and for how long you’ll work. Most are done remotely and you set your own time so you can take on one, two or as many side jobs as you can manage.
  • Financial freedom that can help pay debts, save for larger purchases or just add extra money in your monthly budget.
  • Side hustles typically don’t require a large investment, formal education or specialized skills. Most are selling a service or act as resellers.

But!…..

  • Be sure to find out your company’s policy is regarding outside work to avoid any potential conflicts or problems with your employer. You don’t want to sacrifice your regular paycheque.
  • Don’t over-commit yourself. Taking on more work than you can realistically handle will result in disappointed clients and hinder your ability to secure additional work.
  • Having a side hustle means giving up some of your free time. Only you can decide if it’s worth it but many find that the pros definitely outweigh the cons. Some side hustles are successful enough to turn into a full-time business!

Already have a side hustle but are looking for a full-time job? Job Skill’s employment specialists are there to answer any of your employment questions. Job Skills‘ staff offer solutions to all job seekers,  including youth, newcomers, mature workers, persons with disabilities, and entrepreneurs. Job Skills knowledgeable team can help you make educated decisions, set goals, and create a strategy to help you become happier in your career. Job Skills works with local employers creating employment opportunities for Job Skills’ clients.

Thanks to government funding, Job Skills’ programs and services are free to all users. Job Skills have locations across Keswick, Markham, Brampton, and Mississauga. Job Skills also offers virtual services for community members unable to attend one of our offices for in-person activities.

Find your employment solution today. Visit www.jobskills.org

Job Skills’ employment specialists are there to answer any of your employment questions. Job Skills‘ staff offer solutions to all job seekers, including youth, newcomers, mature workers, persons with disabilities, and entrepreneurs. Job Skills knowledgeable team can help you make educated decisions, set goals, and create a strategy to help you become happier in your career. Job Skills works with local employers creating employment opportunities for Job Skills’ clients. 

Thanks to government funding, Job Skills’ programs and services are free to all users. Job Skills have locations across Keswick, Markham, Brampton, and Mississauga. Job Skills also offers virtual services for community members unable to attend one of our offices for in-person activities.

Find your employment solution today. Visit www.jobskills.org

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