Gig means Job for a particular time when we take work or give services to any organization or particular person in a particular time interval so that is called Gig. In another word, Gig is when any company or organization hires individual people for a particular time for the specific work.
It is totally opposite to the traditional economy. In a traditional economy, Employers goes their company to do their work but here we can do it from our home by using laptop and computer.
If we talk about the present situation so the gig economy is on the top and especially because of this pandemic in 2020 this industry boosted up.
This is totally private work in which people can provide services so that if anyone wants to take service from them so the can order or enjoy their services.
If we are providing any digital services so we can call it freelancing. Freelancing is the main part of this gig economy.
The benefit of GIG Economy
Now we will discuss its profit and loss. So Major percentage is profitable.
Because here the biggest positive thing is flexibility. We can work according to our time flexibility. No one will force us. We don't have to spend too much money on the initiation of our business or services in comparison to offline business. The best part is time management. We can work here 27*7 hours or if we want to do work 2-3 hour that can also possible. People who want to order us they can do it anytime.
It is a very suitable or convenient platform to spread our business. Through this industry, we can spread our business or services all our the world.
The Losses of GIG Economy
Everything has their positive and negative both scenarios as like that here in this gig economy there is no safety because we can not be sure that we would be getting work all the time. here any people or individual person will give work for the particular time or we can say they will give specific work after finishing that work. They will not contact us until they need us.We got work here on the temporary bases but if we have an ability to attract customers by our work or other stuff so we can make them our permanent customer.
In the US this industry of gig economy is working well even in India percentage of gig worker are increasing progressively.
According to the Global economy report, India is among the top 10 countries gig economy.
In the gig economy, the company gives work is on a contractual basis so because of that anyone wanted to do it because on a contractual basis we are not forced to do that work.
That is our choice of work and at a particular time which is also decided by us some time by buyers.
The percentage of people in this gig economy is increasing progressively.
If we see the example of this economy so every kind of delivery boys whose services are ordered online are coming in it like pizza delivery boys and grocery delivery boys and Uber and ola also come in it. Freelancing is the main source of economy.
As we are seeing that online or digital platform ka progressively increasing so because of that freelancer percentage is also boosting up. Actually, it is becoming a very fast field because every kind of work can be done in it which are digitally possible.
By seeing this large change this gig economy government it also makes rules for it. The government also trying to enhance this industry by helping them. They are also providing insurance and provided funds. Government allow freelancers to do work all over the world.
The gig economy is creating a large change for today's world. In future definitely, it is going to be increasing. So we should try to understand the digital platform to enhance our businesses for taking services from them.