Singapore, a country that is known for its free market, has been ranked third in the world. Many companies from countries around the world have been drawn to Singapore due to the business-friendly environment and many opportunities associated with it. In addition, Singapore’s economic growth rate is one of the fastest in the world at 5% annually.
Singapore also offers some of the highest salaries in Asia while keeping an equally comfortable cost of living index. With low tax rates and high standards of life quality, more people are being drawn into coming into Singapore every year. In fact, there are so many coming in that unemployment rates have been on a steady decline.
Although Singapore offers some of the best opportunities in Asia, it is also one of the most difficult countries to start a business. This is due to policies and red tape associated with starting up a new business which adds cost and complexity to the process. In addition, high costs coupled with high taxation may lead new businesses into a situation where they end up running at a loss for extended periods of time before they can get their break-even points from sales revenue.
In spite of many challenges faced by people who want to run their own businesses, there is still an option for them – freelancing jobs. Freelancers make use of today’s latest technological innovations, the internet, to run their businesses. This way, they don’t have to worry about paying for office spaces or equipment that are required by traditional business models.
How to find freelance jobs in Singapore
1. Searching for the right profitable jobs to work on
The first thing that a freelancer needs to do is to find the right kind of job that is worth his time. In Singapore, there are many people who need assistants or consultants for their projects and assignments, this is where Singapore freelancing jobs becomes handy
2. Creating a strong profile
In order for a freelancer to be successful in his business, he must create an effective online profile that will show his capabilities as well as the types of services that he offers. This way, potential clients can contact him with ease instead of having to search through hundreds of profiles just to find one.
3. Filling out project applications
Once you have created a profile, it’s time to apply for projects in which you are interested. In order to make your profile stand out from the rest, it’s a good idea for freelancers to present themselves as experts in their respective fields. This is an effective way of getting noticed by potential employers who will probably contact you to provide more details about what they need before engaging you in a project that pays good money.
As mentioned, although Singapore offers some of the best employment opportunities in Asia, the same cannot be said for its business environment. What this means is that despite all of Singapore’s positive attributes, it still has one of the most difficult business environments to set up a new venture today. Luckily though, there are other options available for people who want to work for themselves without having to worry about office spaces or equipment expenses required by many traditional businesses.
Singapore freelancing jobs are here to stay, especially with the latest technological advancements being made every day, which makes working from home easier than ever before. All you have to do is create an effective online profile highlighting your capabilities as well as the types of services that you can offer potential clients looking for experts in their respective fields.
Pros and cons of freelancing
One of those topics that tend to divide people is freelancing. Some people view it as their ideal career. These people are committed to participating and carrying out their plans. Although they will never get paid as much as in a corporate position, others think it’s too demanding and stressful. If someone told them they would make twice as much at their current work, they would not even try it.
The truth is, as is frequently the case, somewhere in the middle. Freelancing can be tough and stressful, but it can also be freeing and gratifying.
We will look at some of the main benefits and drawbacks of working as a freelancer.
Pros
Flexibility
You have the freedom to work or not. Alternatively, if you want to, you can work from home or on a beach! No one will confront you if you choose to work while wearing slippers. Since you are now your own employer, no one can make decisions for you anymore. But that’s just surface-level information.
As a freelancer, you also have the freedom to select the jobs you want to work on. You can also tell a snarky consumer to leave. Of course, you are free to create projects and put changes into place in the manner you see fit, not the way some idiot in higher management decides.
Control over projects
You can choose the clients you work with and the tasks you take on as a freelancer. This gives you the freedom to select initiatives that fit your interests and abilities and to reject those that do not.
Potential for higher pay
When working as an employee, one of the most depressing experiences is putting in all the effort for a project and then receiving your regular little pay. Even worse, your supervisor receives a sizable bonus for “delivering” it, and the business sells it for a fortune.
Any money made from your work is yours to retain as a freelancer.
If you acquire a significant job, the proceeds will entirely go into your bank account rather than bonuses for higher management. Of course, once the tax office has done its customary looting; however, this is obvious.
Opportunities for growth
Many different experiences and possibilities for growth can be had through freelancing. You can work on various project types and with clients from various industries, which can aid in the development of new abilities and the expansion of your portfolio.
Independence
A level of independence that can be challenging to acquire as an employee is offered by freelancing. It can be liberating to be in charge and to make your own decisions.
Cons
Uncertainty
It may become extremely stressful very fast when every decision directly impacts you and your freelancing business, without the safety net of a giant corporation to help contain any negative impact.
Do you find it stressful that your supervisor told you to “have that business plan completed by tomorrow morning”? When compared to the anxiety you experience while creating your own company plans and project proposals for significant clients, it is nothing. Oh, and this idea of future planning? It is now your obligation since you do not have a CEO and upper management to take care of it for you anymore.
Isolation
Since you might not have a physical office or regular coworkers to engage with, freelancing can be lonely.
Lack of benefits
Benefits such as health insurance paid time off, or a retirement plan are often not provided to freelancers. This can lead to increased financial strain.
Responsibility
Being your own boss has many challenges. The burden of depositing funds into your bank account at the end of each month used to fall on your former boss, but now it is entirely your obligation. And while it’s true that you don’t have a boss anymore, you can slack off all you want, but doing so will cost you in the long run.
You see, even though you don’t have a boss, you still have other obligations that are more demanding: your clients.
And while you could evict the most obnoxious or nasty of them, you will probably think twice about it if you rely on their business to pay your rent or mortgage.
Also, freelancers are in charge of funding all of their own company costs, including supplies, software, and hardware.
Competition
The freelance market is extremely competitive, and it can be challenging to differentiate yourself from the competition and land new clients.
Some people will genuinely want to compensate you. But by the time you complete the project, the money is gone (usually because something more urgent came up). Some people will purposefully try to dupe you right away.