“…If I hire a freelancer instead of an independent contractor, will I save money?”
You’ve heard the buzz about how freelance work is on the upswing, but you’re not sure if you should incorporate it or if you already are. You’ve heard the terms guerrilla marketing, author services, and valet abilities. But you don’t understand how they relate to your company.
You’ve got questions, and we’ve got answers.
If you want to understand freelance vs independent contractor and how they differ, you’ve come to the right place.
Read on to learn more about the differences between them.
The Key Differences Between Freelancers and Independent Contractors
What is a freelancer? What is an independent contractor?
The key difference between freelance vs independent contractor is that freelancers are self-employed individuals who work for themselves. Independent contractors are usually hired by companies to work on specific projects.
Independent contractors are typically considered to be in business, while freelancers are not. Another one is that independent contractors are usually paid by the hour, while freelancers are often paid by the project.
Another difference between the two is that independent contractors are usually required to have their own insurance. But freelancers are not. And finally, independent contractors are often required to sign a contract with the company they are working for. On the other hand, freelancers are not.
The Pros and Cons
There are many pros and cons to hiring either a freelancer or an independent contractor. One key difference between the two is that freelancers are usually brought on for shorter-term projects. Independent contractors are usually brought on for longer-term projects.
Pros of hiring a freelancer include that they may be less expensive than an independent contractor. They also are often more flexible with their schedules.
Cons of hiring a freelancer include that they may have less experience than an independent contractor. They are not bound by a contract, so they could potentially back out of the project at any time.
Pros of hiring an independent contractor include that they are often more experienced than a freelancer. They are bound by a contract, so they are more likely to complete the project.
The cons of hiring an independent contractor include that they may be more expensive than a freelancer. They are often less flexible with their schedules.
Factors to Consider When Hiring Freelance and Independent Contractors
There are many factors to consider when hiring freelance and independent contractor.
The most important factor to consider is the type of work you need to be done. If you need a one-time job done, then hiring a freelance worker may be the best option. However, if you need ongoing work done, then hiring an independent contractor may be the best option.
Other factors to consider include the amount of money you are willing to pay, the amount of time you need the work done, and the level of experience you need.
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Freelance vs Independent Contractor
There are pros and cons to both freelance and independent contractor work. It’s essential to consider your own needs and situation before deciding which one to pursue. Whatever you decide, make sure you do your research and understand the requirements and expectations of the role.
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