The peak of the 2008 recession led to a spike in the gig economy. Since then, the economy has been flourishing. Now, the 4th industrial revolution is another occasion to speak of the gig economy and whether it’s promoting entrepreneurship. The article below is about this and a reliable business cash advance bad credit.
Gig Economy Amid COVID-19: Business Cash Advance Bad Credit
One of the effects of the gig economy has to do with gig-work opportunities. These can promote entrepreneurship and enable people to launch their own businesses, as a recent study by Washington University shows.
Based on recent data in the field, there’s been a 5% rise in the registration of new businesses and the loans offered by the SBA (Small Business Administration) to starters. In recent years, and especially amid COVID-19, the number of people using gig economy platforms has grown significantly. The economy is now more dependent upon gig workers than ever before.
Because of COVID-19, thousands of people have entered the gig economy, and this is quite natural given the virus-related lockdowns. So, it’s no wonder that the freelance platform Upwork has witnessed 50% more signups. What about your business? Have you got access to the necessary working capital to keep your business running?
In fact, this can be more than possible if you work with a respectable alternative business financing provider in your field. A trustworthy alternative online lender in the U.S. is the fastest source you need for getting additional capital such as a business cash advance bad credit for your company.
Gig Economy & Entrepreneurship
According to the University of Chicago, the gig economy employment helps with entrepreneurship and allows for starting your own business.
New businesses can be formed by enabling potential entrepreneurs to supplement their income during hard times typical of many starters during the 1st years. If an entrepreneur launches a new business and doesn’t succeed, gig work can provide him/her with a foundation to stand on.
To sum up, on the one hand, the gig economy can boost entrepreneurship and jobs that enable people to be more flexible with work/life balance, as well as help them supplement their incomes thanks to the skills, abilities, and talents they have. On the other hand, it can also result in inconsistent income, less stability and less protection.
Author Bio: Michael Hollis is a Detroit native who now lives in Los Angeles. He is an account executive who has helped hundreds of business owners with their business cash advance bad credit solutions. He’s experimented with various occupations: computer programming, dog-training, scientificating… But his favorite job is the one he’s now doing full time — providing business funding for hard working business owners across the country.