For many budding entrepreneurs, founding a successful small business is a lifelong dream. Unfortunately, getting an entrepreneurial venture off the ground isn’t always easy and can sometimes take years to become profitable. Thankfully, just like there’s been innovation in education over the last several years, there has also been innovation in the business landscape.

Given the uncertain and costly nature of starting a small business, many small business CEOs are turning to the gig economy to assist them on their entrepreneurial journey. Understanding the modern connection between small business CEOs and the gig economy is key to gaining a deeper, more nuanced perspective on today’s business landscape.

Here is the rise of the gig economy and its empowerment of small business CEOs in the new economic landscape.

Why the Gig Economy Is Good for Small Businesses

Though they may seem unrelated, the gig economy and small businesses are more connected than many assume. In fact, not only is the gig economy helping scores of professional’s command extra income, but it’s also helping small business CEOs pursue their dreams.

Here are some ways that the gig economy is good for small businesses.

Providing Small Business CEOs With Opportunities to Earn an Income

When starting or running a small business, it’s common for CEOs and founders to forego a wage — opting instead to pour earnings back into the business venture. While this is definitely a smart way to grow a business and set it up for success in the future, it also means that small business CEOs are left without a livable income.

Fortunately, the gig economy has presented itself as a ripe antidote for this age-old problem. Rather than having to rely solely on savings to support themselves, small business CEOs can now capitalize on their skills and take on freelance, contract, or gig work. This allows them to earn an income separate from their entrepreneurial ventures while still putting time and effort into growing their business.

Some common gig roles that small business CEOs can have include:

• Freelance writing: Given the nature of freelance writing, it’s a job that’s conducive to both remote and gig work. Oftentimes, it can also be done asynchronously, making it a great, flexible choice for small business CEOs to fit into their busy schedules.
• Web design: For the more creative and tech-savvy entrepreneurs out there, freelance web design is a great way to earn some extra income.
• Graphic design: Graphic design is a great gig role that small business CEOs can engage in on an asynchronous basis. This is a great gig role as it can also act as a creative outlet for small business founders to decompress.
• Food delivery: As many have noticed, food delivery has become an incredibly popular phenomenon in our modern world. As such, gigs in this realm are often widely available and don’t require professional experience, making them a great choice for many small business CEOs in need of an immediate gig.

Providing Small Business CEOs with Flexible Staffing Options

For many small business owners, staffing can be an incredibly difficult challenge. Oftentimes, this stems from the fact that hiring employees can be expensive and difficult. Fortunately, the gig economy is helping to change this by offering small business CEOs new ways to hire employees.

Specifically, the gig economy is providing small businesses an opportunity to hire employees on a gig basis, helping avoid unnecessary costs associated with hiring full-time and part-time employees. As such, many small businesses have a chance to save money without having to forego the help of workers.

In addition to helping small businesses save costs, the gig economy is also making it easier for small business CEOs to find employees. This is because online spaces dedicated to connecting employers with freelancers have proliferated over the last several years. As such, finding freelancers is easier today than it ever has been before.

Finally, for small online businesses looking to save on overhead by foregoing an office, the gig economy makes it easier than ever to hire freelancers remotely. This means that small business CEOs now easily have access to skilled freelancers who are used to working remotely and don’t need to be provided with an office, supplies, or a WiFi connection.

The Gig Economy Is Helping Small Businesses Thrive

Though it may not seem obvious at first glance, the gig economy is empowering small business CEOs to pursue their dreams, grow their businesses, and find success. Specifically, the gig economy provides small business founders and CEOs with opportunities to find gig work to sustain themselves and gig employees to help their businesses operate.

As time goes on and the gig economy evolves, new benefits to the small business landscape will likely arise and CEOs everywhere will be taking advantage of gig-related opportunities.