Self employed businesses need admin help

The so called “gig economy” is fast becoming a reality for a growing number of self employed people- but they need help with business red tape.

The so called "gig economy" is fast becoming a reality for a growing number of self employed people- but they need help with business red tape.Cloud based platforms are making it easier for firms to find the people they need from a global talent pool, and for freelancers to advertise their skills.

For companies desperate for flexible workers, these platforms are both convenient and cost effective.

“With millions of experts from all around the world, people can get help with their business within minutes of posting a project,” says Matt Barrie, chief executive of Sydney based Freelancer.com, whose clients include Nasa.

“They can scale up or down as needed. It offers flexibility of budget, space and time, and rates that people can afford, with lower overhead expenses.”

Freelancer.com also offers a Local Jobs service which it describes as “Uber for local jobs”, allowing companies to find freelancers within a 30 mile radius, and not just for the typical online work involved in the gig economy, but for location-based tasks, such as deliveries.

This on-demand economy is also leading to the rise of competition based marketplaces such as Innocentive, where companies can post tough work challenges for innovators to solve in return for prize money.

The gig economy is clearly booming and set for rapid growth. In the UK, the number of self employed people has risen to nearly five million, approaching the number who work in the public sector.

PeoplePerHour, an online freelance marketplace, forecasts that one in two people in the US and the UK will be freelance by 2020.

And the market for gig economy platforms and related services will be worth almost £43 billion globally by 2020, forecasts consultancy PwC. In 2014, this global market was already valued at £6.89 billion.

The gig economy will also… see more professionals in sales, marketing, finance and law adopting a gig economy mentality, not just the usual suspects of software development or event planning. This trend affects us all and it’s just getting started.

However despite the informality of the gig economy people still need to conform to UK regulations and red tape like HMRC for tax and vat returns.

So if you are self employed and need help with your business’s administration you can either ring us now on  – email us on edith@esbaccountancy.co.uk or click the Contact Us buttonpayroll bookkeeping services small business help contact esb accountancy gloucestershireor please fill the form at the bottom of the contact us page.

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