Work as a Freelancer 4 advantages and 3 limitations

In 2021, 90% of freelancers say they are freelancers of their choice and 84% of them do not want to be employees again (Malt and BCG 2021 study). Want to get started as a freelancer but not sure what to expect? Follow this guide to learn the pros and cons of this method of work and find out if working as a freelancer is for you!

What is Freelancing?

There is no real definition of “freelance”, which is an Anglicism meaning “independent”. So we can say that a freelancer is a person who exercises his profession as a freelance worker. He is not bound by an employment contract and does assignments for various clients that he invoices.

Being a freelancer is attracting more and more professionals who want to leave the workforce and embark on the adventure of entrepreneurship. Because above all, working as a freelancer means you are your own employer. are you still hesitating? Here are the advantages and disadvantages of freelancing.

4 reasons to work as a freelancer

1. Freedom

According to a 2022 study by Malt, the first motivation to work as a freelancer is to seek independence.

As a freelancer, you work with a variety of clients, but are not bound by a subordination contract. In other words, you practice your profession independently for several clients with whom you have signed a freelance contract. But in the end you work for yourself, which is often a source of inspiration.

This autonomy and independence gives you a huge advantage: You manage your workload often for income purposes.

Unlike an employee who (usually) receives the same salary every month, the freelancer has more control over his professional status and his income. These are related to the missions undertaken, duration of work, its investment etc.

Also, since you get paid for the missions you do, the more you work, the more you get paid. So you decide how much work and/or income you want to earn. On the other hand, freelancing makes the world of work accessible to young graduates or unemployed people.

2. Freedom

Freedom is also synonymous with freedom. This is another advantage of freelancing. You have the possibility to freely choose your customers and the missions that interest you. You are the sole decision maker and you are in control of the professional direction your career is given.

You also set your own prices. Of course, your rates should be based on various criteria (including market value), but they still allow you to value your work at its fair value.

3. Flexibility

The third benefit often offered by freelancers is the flexibility offered by this way of working. One of the main characteristics that defines a freelancer is the flexibility of working hours and location. Telecommuting or vice versa globe-trotting, it’s potentially you who choose!

This flexibility also brings about a better balance between professional and personal life. Freelancer is able to organize his agenda to free up time for his family, his activities, …

4. Diversity

The work of a freelancer is divided into two activities:

• Their Profession: This is the core business we offer to our clients;
• Entrepreneurship: It is the management and development of one’s business.

This distribution makes it possible to diversify one’s daily life. It also requires a certain versatility. A freelancer potentially acquires new and many skills that will always be beneficial to him: accounting, invoicing, commercial management, communication, etc.

3 Limitations of Freelancing

1. Lack of stability

By its very nature, there is a choice and succession of independent works contracts. The first difficulty may be finding enough missions. Turnover (hence income) is dependent on the missions you find. So there is an element of risk and above all volatility in being a freelancer. But many freelancers do very well by learning to anticipate fluctuations in activity.

As a self-employed person, it is also important to note that you do not receive unemployment protection, sick leave or even paid leave. It is possible for freelancers to take out professional insurance to fill some of these gaps.

2. Versatility

We’ve mentioned it: versatility when one is free is both an attraction for some and a limitation for others. Running a business alone can be difficult. You will have to do time-consuming or sometimes futile tasks. For some, accounting or invoicing are dangerous administrative tasks. Others are less comfortable with the business aspect of business management: promotion, sales, negotiation, etc.

Tools can help you. We’re thinking of accounting or invoicing software specifically for freelancers, but also looking at platforms for freelancers, which can be a good starting point.

3. Loneliness

Being freelance means working alone. Feeling lonely and isolated can take a toll on some freelancers. You are the only one making the decisions and therefore you have a significant level of responsibility.

What professions can you practice as a freelancer?

There are many types of professions suitable for freelancing. Specifically, you can become a freelancer if you:

• In the technical field: Developer, Web Integrator, Data Scientist, SEO Consultant;
• in the creative field: designer, graphic designer, photographer, illustrator;
• In Communications: Community Manager, Journalist, Web Editor, Consultant, PR;
• In Marketing: Web Marketer, Acquisition Manager, Consultant;
• In support functions: Commercial Assistant, Administrative Assistant.

This list is certainly not exhaustive. Web and digital businesses have a strong presence, but freelance professions are not limited to that.

Which position to choose to work as a freelancer?

Like trades, there are many legal situations that may be appropriate for freelance work.

The position of the micro-entrepreneur is often privileged. It brings many advantages: micro enterprises are quick to set up, easy to manage and cheap. Many freelancers begin under this situation before moving on to the more complex legal form when their activity is well started.

Other methods often chosen are EI, SASU or EURL. Overall, they are therefore more suitable for freelancers who are already established or with strong growth prospects.

The choice of legal status is an element to be carefully considered when you want to work as a freelancer. It is also based on various social and financial elements that need to be studied carefully, but it is also based on your professional and personal situation.

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