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How to use the gig economy to drive your start-up forward

With news that start-up creation in the U.S has reached a 40-year low in 2016, it’s safe to say that the home of some of the world’s most successful start-ups isn’t doing as well as it has done in the past. Indeed, there were between 500,000 and 600,000 new companies created every year from the late 1970s to the mid-2000s in the U.S alone.
However, this trend has been completely reversed across the continents in the UK, with Britain seeing a record rise in its number of start-ups. This proves that regardless of a problematic financial environment caused by Brexit, start-up success can be achieved.

But how best to make 2018 the year your start-up truly took off? If you want to emulate the success of Uber and Snapchat you’re going to have to think outside the box, and one way you can do this is by taking advantage of the gig economy.
Gig economies get their name from the nature of their work patterns. Every one-off job, or ‘gig’ such as a taxi ride or meal delivery can come either extremely often when business is going great, or spaced apart when demand is low, creating irregular work patterns and fluctuations in prices. It’s the unique nature of gig economy work that you can use to your start-up’s advantage.

One of the main reasons you should use the gig economy to get your start-up off the ground is the cost. You’re likely trying to minimize your outgoings at this point, and hiring gig economy workers is often significantly cheaper than going to a contractor or company. This is because freelance gig economy workers set their own hourly rates and, as a result, often deliberately undercut the competition in order to get more business.

For freelancers, their reputation is truly all they have. If they complete a piece of work poorly, or don’t exhibit the skills they claim to hold when completing a job, one bad review can potentially put them out if business. It’s for this reason that you’re likely to find freelancers to be some of the most motivated, hardworking and attentive employees you’ll ever deal with.

Many workers in the gig economy don’t work the regular 9 – 5 hours that you’ll get with a normal contracted company, and as such you’ll be able to hire freelancers to work on your start-up at unsociable hours in order to get the job done.

There’s a plethora of websites out there where you can hire gig economy workers, meaning you can pick the perfect person for your start-up. You can browse online portfolios, filter years of experience, specialisms and rates of pay until you find the worker who has the skillset and industry knowledge to take your venture to the next step.

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