With approximately 1000 percent growth in participation in the gig economy between October 2012 and September 2015, it’s safe to say that this new type of entrepreneurship has had a serious impact on the economy and has redefined what many consider a typical “job.” The modern-day entrepreneur no longer needs large capital investment, multiple employees and inflexible work hours for their new business ventures. In the gig economy, they have multiple options with low start-up costs and lower risks – and more time for personal commitments.
But how exactly does the old way of entrepreneurship stack up with new gig economy offerings? See below for a comparison between the “traditional” route and some of its more modern counterparts, including direct-selling, ride-sharing, and home-sharing.
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Infographic courtesy of Amway.