Temporary office space for freelancers is now more in demand as contract work continues to be a growing trend in India and the rest of the World.
Self-Employment and Job Security
In the days of my parents, students were encouraged to get a good secure job with a bank or the government, earn a steady income and maybe get a pension at the age of 65.
For Generation X no job is secure any more. As we experience Global Financial Crises they have to worry if that bank paying large salaries will even be around next year.
For companies and freelancers alike, with the fast changes in the job and business market, risk management is important. To test a new project companies will enter short-term contracts for employees, services and take on temporary office space. It makes serviced office accommodation very attractive.
Surge in Freelancing
Giving up a permanent job to become an independent consultant can be exciting and worrying at the same time. Working for yourself gives you a certain amount of choice every day: where to work, how much to do, whether to work at all. If you are relying on fees per hour of work, you have to consider how to cover health insurance, holidays and sick days.
In a Reuters article comparing the huge increase in contract work to a new industrial revolution, author Sara Horowitz suggested that we need to build a new safety net support system for independent contractors, to give them the security benefits of the traditional employment model.
There are plenty of bloggers over the internet giving advice on how to ditch your boss and be free. It sounds good, but when you swap one boss for seven clients you might find you have in fact attracted seven new bosses.
Some of them are not really interested that you have to pay your rent at the end of the month and might be very slow to pay your bills.
The rapid growth of internet sites listing job offers, (‘Elance’,’ 99designs’ and ‘Fiverr’ are just a few) has helped support the development of the freelance market. Through such job websites, employers are able to source immediate technical support without taking on the costs and liabilities of a full-time employee. The benefits for the job seeker are viewing a wide selection of offers and being assured of payment via their escrow account system.
According to Wikipedia, the USA and UK together account for 50% of job offers outsourced, while The Philippines, India, Pakistan, Bangladesh supply 50% of the contract employees. Over 10% of freelancers are based in India.
More Home Based Businesses
In-Stat, a research service for digital trends, says the rising trend to freelancing and working from home will result in small office and home office smartphone unit purchases increasing over 44% from 2017 to 2019 (first quarter). Because official statistics no longer include independent workers, there is no official count. However, In-Stat expected the numbers of full-time home office workers to reach over 14 million by end of 2019. That is a large market.
Temporary Office Space
When working for yourself you can easily operate from a home office, a cafe or the client’s office. However, for a contract lasting a few months it might be worth taking temporary office space and if you are in our area, we would like to offer you our serviced office space in Noida. As a virtual office we can offer you our address for your printing and websites.
Opportunities in Freelance Economy
One thing is for sure, the trend to self-employment is upward. With the ongoing expansion of internet and home-based businesses, suppliers to this community, including mobile devices, communication technology, home office equipment, serviced offices and temporary office space businesses will benefit from the trend.