The gig economy has seen a meteoric rise to “normalcy” in recent years, with some sources estimating that the majority (50.9%) of the U.S. workforce will be freelancing by 2027 if gig work continues to grow at its current rate.
Who are the hirers embracing the movement and helping to drive this rapid growth?
According to a study by LinkedIn, small businesses are responsible for an estimated 40 percent of all hiring activity across the wider gig economy, with mid-market companies and enterprises accounting for 35 percent and 25 percent, respectively.
Additionally, 93 percent of contractors and freelancers said they are likely to consider working at a small business. It’s a match made in heaven!
Small businesses are hiring gig workers for countless types of jobs and projects, from copywriting and design to technical functions like web development and—our personal favorite—accounting.
The traditional models of accounting (such as working with an outside firm or hiring full-time internal staff for your business) still exist, but taking advantage of freelance accounting professionals can offer major flexibility for those who seek it. Here are 6 benefits of working with a gig accountant.
1. You’re hiring an expert.
When small business owners choose to work with freelancers, they are able to hire experts for the areas they may not know as much about. Accounting and finance require extensive knowledge, experience, and even certifications, so hiring outside help for these functions is a great way to ensure your business stays compliant and profitable.
Plus, many gig workers are highly specialized within their field, so if you need someone with deep knowledge of a very specific niche, you’ll definitely be able to find your ideal match.
2. Pay only for the labor you need.
Perhaps you aren’t at the point where you need to hire someone full-time, or you’d just prefer to work with a professional on a contract basis. Whatever your needs are, hiring a freelance accounting, tax, or finance pro means you’re only paying for exactly what you need, and you can adjust the engagement as things change over time.
3. Freelancers are often happier than employees.
A study by McKinsey found that gig workers who do freelance work by choice report being happier than in the traditional 9-5 role. While it’s not guaranteed that any freelancer you work with will be a glass-half-full kind of person, there is a very good chance that you’ll encounter professionals who are passionate about their work and excited to take you on as a client.
4. The gig economy is established, and many small businesses have engaged with freelancers successfully.
While it may have felt risky to hire freelancers of any kind back when the gig economy was the “hot new thing” —especially those who have access to your financial records—this should no longer be the case. LinkedIn’s May 2018 workforce report found that 70% of small businesses have hired a freelancer in the past, more than half of these in the past 3 months; and 81% of these businesses plan to hire freelancers in the future.
5. They bring value only human advisors can provide.
The prevalence of accounting software and online options have led many small business owners to adopt a DIY attitude toward accounting. While these options can be great tools for record-keeping and other functions, no online program will ever be able to match the value and personal touch provided by a real person.
Whether you ever meet your gig accountant in person doesn’t necessarily matter (unless that’s a deal breaker for you). Many gig workers, and accountants in general, are embracing remote work through “cloud accounting,” so their engagements with you can happen mostly or entirely online. With this option, you still have the convenience of handling your accounting function online with the added benefit of a human advisor looking out for you and your bottom line.
6. You don’t have to find someone alone.
It can be overwhelming to start looking for a freelancer to help your business. Should you ask around for personal recommendations, start Googling, or use a gig work website? There are plenty of options, but the most important thing is to ensure you can read about your chosen professional’s reputation before hiring them.
Our CountingWorks marketplace site makes it easy for you to search for gig accounting and tax professionals based on your specific needs. Our MatchMe service will help you find five-star-rated professionals that are experts in their niche and can help take your business to the next level. Plus, you can see if a professional is “verified” — meaning we take care of the background screening for you.
The gig economy is expanding rapidly and offers incredible opportunities for small businesses to engage with experts across many functions. Whether you choose to hire a freelance graphic designer or a gig accountant, your small business will be better off for having enlisted external help.
Ready to hire a freelance accounting, tax, or finance professional? Try out our MatchMe feature to get matched with verified, five-star-rated pros today.
About Lauren Detweiler
I am equal parts marketer, traveler, and writer, and I've been doing all three for as long as I can remember. I have spent most of my time since graduating university traveling and working remotely in Africa and Europe. My passion lies in conveying the right messaging to the right people, and being a part of the CountingWorks and TaxBuzz team means I get to do that not only for our company, but for clients across the country as well.
