Baptiste Michaud, Manon Andrevon, and Sacha Leboube, students at Esdes Business School, have created one of the episodes of the school's podcast: 'Digital Conscience'.
In their episode, they invite you to explore the world of freelancing through the testimony of Florent Milan, a young entrepreneur who ventured into freelancing after his studies. Goals, expectations, doubts, and motivations: he shares his project with us!
Freelancing, or independent work, is gaining increasing popularity in the modern world. With the evolution of digital technologies and changes in the mindset of workers and employers, this form of work offers new perspectives and challenges. This article aims to pedagogically explore the concept of freelancing, its advantages, disadvantages, and its impact on the modern economy.
What is freelancing?
Freelancing refers to a form of self-employment where a person conducts their professional activity independently, without being engaged long-term by a specific employer. Freelancers offer their services to companies or individuals based on contracts or one-off projects. According to 2021 data from INSEE (National Institute of Statistics and Economic Studies), the number of micro-entrepreneurs, a status often adopted by freelancers, had exceeded 1.7 million in France. This represents a significant portion of the French workforce.
Freelancing: advantages and positive aspects
Becoming a freelancer offers several advantages that attract many professionals to this form of independent work. Here are the main benefits:
- Flexibility: Freelancers have the freedom to choose their working hours and adapt them according to their personal needs and preferences. This flexibility allows for a better work-life balance.
- Autonomy in project choice: As a freelancer, you have the power to select the projects that interest you the most and that match your skills and passions.
- Control over workload: You can decide the amount of work you take on, allowing you to manage your workload according to your capacities and income goals.
- Possibility to diversify income: Working with multiple clients or on different projects can lead to a diversification of income sources, thus reducing dependence on a single employer.
- Reduction of commuting costs and time: Working from home or in a local coworking space can significantly reduce the time and costs associated with daily commutes.
- Continuous professional development: Freelancing often involves constantly learning and adapting to new tools, technologies, and sectors, contributing to continuous professional growth.
- Networking and collaborations: Freelancing offers numerous opportunities for networking and collaboration with professionals from various sectors, which can open doors to new opportunities.
- Financial control: Although income can fluctuate, freelancers have control over their pricing and can potentially earn more than in a traditional salaried job, especially after establishing a solid reputation and a loyal client network.
- Savings on work-related expenses: By working from home, you can save on work-related costs, such as professional attire, meals out, etc.
It is important to note that these advantages can vary depending on your industry, experience, and how you manage your freelance activity. Success as a freelancer requires discipline, good management, and a solid business development strategy.
The Disadvantages of freelancing
As you can see, becoming a freelancer offers many opportunities, but it also comes with certain disadvantages and challenges that are important to consider before starting:
- Income instability: Freelancers do not benefit from a fixed monthly salary. Their income depends on the amount of work they can secure and deliver, which can lead to financial instability, especially at the beginning or during slow periods.
- Lack of social benefits: Unlike employees with traditional contracts, freelancers must handle their own health insurance, retirement, and generally do not have paid leave or unemployment insurance (unless they opt for specific solutions).
- Administrative responsibilities: Freelancers must manage their own accounting, invoices, tax, and social declarations. This can be complex and time-consuming, especially without prior knowledge.
- Continuous work to find clients: A freelancer must dedicate a significant portion of their time to finding new clients and projects, which can be stressful and uncertain.
- Professional isolation: Working as a freelancer can sometimes be isolating, especially if you work from home. The absence of colleagues and a traditional work environment can affect collaboration, motivation, and even social well-being.
- Work-life balance: Although freelancing offers some flexibility, it can be difficult to disconnect from work, especially when your personal and professional spaces overlap.
- Pressure and stress: The pressure to deliver quality results, meet deadlines, and manage multiple projects or clients simultaneously can be a significant source of stress.
- Vulnerability to market changes: Freelancers can be particularly vulnerable to economic fluctuations, market trend changes, or the emergence of new technologies.
Although these challenges may seem daunting, many are manageable with good planning, effective management, and a solid support network. It is crucial for potential freelancers to carefully evaluate these disadvantages against the advantages of independent work before making a decision.
Does freelancing have an economic impact?
Freelancing plays a significant role in the French economy, marked by continuous growth in the number of independent workers. It brings flexibility and adaptability to the labor market, meeting both the needs of companies for specialized skills on one-off projects and the aspirations of professionals for greater autonomy and a better work-life balance. While freelancing stimulates innovation and contributes to economic dynamism, it also poses challenges in terms of social security and financial stability for workers. These aspects are currently at the heart of policies aimed at improving the condition of freelancers in France.
Want to listen to this episode of the 'Digital Conscience' podcast? Head over to Spotify! Digital Conscience is a podcast imagined by the 5th-year students of the Marketing & Digital Business master's cycle of the Master in Management Program at Esdes, produced by the CheeseNaan agency and Esdes Business School.