INDIA IS NOW WORLD'S LARGEST FREE LANCERS BASE

Yes, You heard it right!

PayPal , the popular global digital payment company , had recently conducted a survey called "Insights into Freelancer Ecosystem".The results that cameforth were amazing,not to forget,surprising.

According to the survey, Indian freelancers earn about Rs. 19 Lakh per year(Approx 30k $) on an average. Additionally, it had revealed like various arenas like web designing, data entry, web and mobile app development and internet research are the ones which are mainly of focus. However they are also quite popular in other spheres, such as accountancy,graphic designing and consultancy. According to the reports, with more than 10 million individuals operating, India has become the largest freelancer base in the whole world.

Out of the freelancers who participated in the survey, the yearly income of 23% of the freelancers amounted in the range of Rs. 40-45 lakh while 13% earn in the range of Rs. 10-15 lakh. As per the report 8% of the freelancers earn about Rs. 7.5-10 LAKH, 23% earn about Rs. 2.5-5 lakh and a 11% earn Rs. 2.5 lakh or less in a year.

It is believed that most of the people found the scope of freelancing by hearing about it from their friends and family or through various free lancing sites and social media platforms. The main reasons for the popularity of this job include flexible schedules, more income and free choice.

However, the picture is not as rosy as it seems. Freelancers also face a lot of challenges, the prime ones being lack of security and other risks. Since freelancers work for clients from across the world, they are always exposed to the possibility of being left in the lurch.

Additionally, invoicing is a major concern in the freelancing arena. Freelancers are expected to use several online platforms to raise an invoice or design one using the spreadsheet software and share them over emails. This could sometimes lead to confusion and disagreements, thus causing delay in payments.

Then there is the peril of not being paid for the work done. In the survey, about 61% of freelancers have confessed to not having been paid by atleast one client. There was also an indication that sometimes the clients make late payments, creating a gap of about two or four weeks. This has a direct impact on the cash flow and can be a cause of concern for the individuals who depend on this money for livelihood.

Ofcourse, the skilled and experienced freelancers have a;lready found a perfect solution for these late payments. They pointed out that they waive off a certain amount when their clients pay them on time. However, they also charge an extra amount for late payments. Though this is a great idea, getting the clients to agree to this is not very easy.

India, growing as the largest hub of freelancers surely holds a lot of promise for the alternative employment. However, the government should put down stringent rules and regulations to ensure that freelancers can work in peace without having to worry about late payments or no payments at all.

The freelancing arena seems to be revolutionizing the Job market. Her's hoping that we see far more positive changes in the years to come and wish all the best to all the freelancers out there!

Please do feel free to share your thoughts in the comments.

Upvote Resteem and Follow @omravi