Gig Economy

The Gig Economy is an economic model where labour market flexibility and temporary work commitments are commonplace. The business base of companies in the Gig Economy tends to work on a margin, with less fixed assets.

Over the past couple of years there has been a boom in companies operating in the Gig Economy, growing as the Internet has become a dominant force. Companies are increasingly hiring via online platforms such as Fiverr for independent contractors, consultants and freelancers rather than full-time employees. The Gig Worker can have a flexible lifestyle due to changes in working conditions, being employed via short term or specialised tasks at short notice. For companies, temporary work commitments are more easily fulfilled by the Gig Economy. The Gig Economy is driving a changing relationship away from traditional economic relationships between workers, businesses and clients. There are numerous Gig Companies listed on the U.S. Stock Exchanges, taking a margin, they tend to have smaller Balance Sheets thus requiring less capital.