Freelancing is a type of business in which a person does specific work for a client. Freelancers often work on multiple projects with different clients. The Internal Revenue Service (IRH) considers freelancers to be self-employed individuals.

A freelancer works independently as a company. They have no long-term commitments, and no boss to control. Freelancing is very popular for its independence. Most people like freelancing because they want to be independent. Freelancing is working for yourself and getting paid for your work. As a freelancer, you can work on short-term as well as long-term projects.

Advantages of Freelancing:

You are Boss:

Many people like freelancing because they don’t want to hear the orders of a boss. They don’t like the boss. You are the boss of your own in freelancing. You are not answerable to anyone.

Personal Growth:

Your clients are from all over the world. Therefore, you may have many projects. Some of your clients may be company owners, CEOs, Managers, etc. So there is a better opportunity to grow yourself by working with these types of professional and experienced persons.

Flexibility:

As a freelancer, you have the authority to choose when and where to work. For example, you can work from home, or while traveling. You can work where you feel flexible.

Setting your Rates:

You can control your earning potential by setting your rates as a freelancer. The amount of work you can handle is another factor that will define your earnings.

Open to Choice:

As a freelancer, you are open to selecting projects that match your skills and interests. You can also choose clients with whom you feel profitable and comfortable.

Disadvantages of Freelancing:

Isolation:

Isolation becomes the biggest disadvantage of freelancing when you are an individual. You work lonely on your projects having no colleagues in your work environment. With colleagues, you can learn different things from them if you are working in the same environment.

Responsibilities:

You will need to handle invoicing, marketing, or other duties if you are an individual because you are the boss. This thing will take time from your area of focus. Sometimes it becomes hard to handle all the things by yourself.

Self-motivation:

When you have a boss, you do everything according to their orders and instructions. As a freelancer, there is no one to order you. At this time, self-motivation becomes a necessary factor. And most people become de-motivated after working for some time.

Inconsistent Income:

Employees enjoy the stability and security of jobs by getting fixed and transparent salaries. However, the money of a freelancer is not consistent. Sometimes freelancers earn more, and sometimes, not even a penny. It also discourages people from doing freelancing.