Small Business Labs

The Positive Mental Health Effects of Self-Employment

Small Business Labs

A recent academic study found that self-employed gig workers in the UK score higher across a range of psychological well-being measures than workers in the mainstream economy.

2019 179

Freelancers and Solopreneurs are Increasingly Exporters

Small Business Labs

Despite trade wars, tariffs, and the erection of other barriers to cross-border commerce, independent workers, freelancers and solopreneurs are increasingly finding customers outside U.S. borders.

2019 264

The Rise of Independent Worker Teams: Fiverr's Studios and Upwork's Agency Experience

Small Business Labs

Fiverr this week announced a new service offering called "Studios" This service gives freelancers the ability to easily join forces to sell and tackle larger and more complex client assignments than a freelancer could do on their own.

2019 204

The Number of Nonemployer Businesses Continues to Grow

Small Business Labs

According to the  U.S. Census, the number of   nonemployer businesses in 2017 increased to 25,701,671, up 3.6% from 2016.    Nonemployers are businesses that have an owner, but don't have paid traditional full or part-time employees (W2 employees).

2019 228

Small Businesses Worried About Corporate Concentration - and Especially Amazon

Small Business Labs

The Institute for Local Self-Reliance recently released its 2019 Independent Business Survey. The key finding is small independent businesses see large corporations - and especially Amazon - as their main competitive threat.    They also feel government policies have not helped.

2019 167

23% of Traditional Full-Time Job Holders Plan to Switch to Gig Work

Small Business Labs

According to MetLife's 2019 U.S. Employee Benefits Study, 23% of Americans with full-time traditional jobs intend to switch to gig work over the next 5 years. Another 14% say they are considering it. 

2019 271

WeWork Files to Go Public

Small Business Labs

WeWork released its S-1 this week, which is the legal document a company files prior to going public.    WeWork going public is a bit of a watershed moment for the coworking industry. It's the first of the new wave of coworking spaces to do so.

Filing 153

The BBC's List of 101 Things You Need to Know About the Future of Work

Small Business Labs

The BBC's The 101 people, ideas and things changing how we work today really does cover 101 different trends, shifts, people and things impacting the future of work. The long list includes a brief description of each item.

2019 151

What Freelancers Want From Their Clients

Small Business Labs

As we pointed out earlier this week , firms of all sizes and types are increasing their use of freelancers and other forms of non-employee labor. 

2019 257

The Great Risk Shift - and Economic Insecurity - Continues

Small Business Labs

"Risk shift" is the trend towards economic and other risks - and the responsibility for risk management - being shifted from institutions to individuals. 

2019 220

More Small Businesses Turning to Online Lenders for Financing

Small Business Labs

The Federal Reserve recently released its 2019 Small Business Credit Survey.    A key finding is the use of online lending sources by small businesses is rapidly expanding. 

2019 235

GCUC 2019 - Coworking's Surge Continues

Small Business Labs

The 2019 U.S. version of the Global Coworking Unconference Conference Series (GCUC) happened last week in Denver. Over 500 attendees showed up to discuss the state of the coworking industry and learn from one another.

2019 234

40% of Americans Say They Struggle to Pay Bills

Small Business Labs

The Washington Post's ‘This doesn’t look like the best economy ever’: 40% of Americans say they still struggle to pay bills covers the fact that despite a strong job market and a 10 year long economic recovery, a lot of Americans still struggle financially.

2019 181

Community Lenders Creating Community Spaces - Credit Unions are Opening Coworking Spaces

Small Business Labs

CreditUnions.com's article 3 Ways to Connect Through Coworking Spaces provides an excellent example of how coworking is spreading across industry verticals and niche markets. The article highlights 3 credit unions that have opened coworking spaces.

2019 234

Purpose and a Paycheck and the New Retirement

Small Business Labs

Purpose and a Paycheck is a new book from Chris Farrell, a leading expert on retirement and workforce issues facing people over the age of 50. 

The Recent Flurry of Gig Economy Studies

Small Business Labs

It's been a busy couple of weeks for gig economy studies. Below is a list of 4 of the recently released studies.

2019 179

More Freelancers Feeling Secure

Small Business Labs

MBO Partners released their 2019 State of Independence study this week. This is the 9th year of this ongoing study, which provides an in-depth look at American's independent workers (freelancers, independent contractors, self-employed, etc.).

2019 186

"The Venture Capitalizaton of Belonging"

Small Business Labs

Fast Company's Social clubs died out in America. Now, venture capital is bringing them back provides an interesting look at the changing landscape of American social clubs. The article starts by pointing out the long decline in the membership of traditional clubs. Key quote: "Over the last few decades, sociologists and political scientists have found that American clubs of all stripes–from youth service clubs to bowling leagues–have experienced steep declines in their memberships.

2019 195

BCG on the New Freelancers

Small Business Labs

Last week the Big 3 strategy consulting firm BCG released THE NEW FREELANCERS: TAPPING TALENT IN THE GIG ECONOMY , a study on "those who find temporary work through digital labor-sharing platforms."

2019 246

Most Small Businesses Still Have Less Than $400,000 in Annual Revenue.

Small Business Labs

According to data from the U.S, Census 2016 Annual Survey of Entrepreneurs (the most recent data available), the median U.S. employer small business (those with paid traditional employees) generated less than $400k in revenue in 2016.

2019 185

The Democratization of Wealth Work

Small Business Labs

The Brookings Institute's Who’s employed by the lifestyles of the rich and famous? covers the growth of the personal care and services jobs, which has been one of the fastest growing job segments over the past decade.

2019 141

Deloitte on the Future of Work

Small Business Labs

Deloitte has become, in our opinion, one of the key go-to sources of information and analysis on the future of work. Their recent article Redefining work, workforces, and workplaces is a good example. In a relatively short article, it nicely synthesizes and explains "multiple converging trends and how they are already fundamentally changing all aspects of work."

2019 199

Modern Homesteading and the Trend Towards Greater Independence

Small Business Labs

The trend towards desiring greater levels independence - and the autonomy, control and flexibility that comes with it - takes many forms. 

2019 234

SafetyPIN: Building Trust in the Gig Economy (and elsewhere)

Small Business Labs

SafetyPIN Technologies is a startup that has created a background check system and trust badge that lets people see at a glance if someone they met online - or elsewhere - is safe to meet offline.

2019 135

Podcasting Entering the Mainstream

Small Business Labs

In case you hadn't heard, podcasting is booming.    According to The Infinite Dial 2019 , an annual survey conducted by Edison Research and Triton Digital, more than half of all adult Americans have listened to one.

2019 207

The Most Common Professions of Skilled Freelancers Working for Businesses

Small Business Labs

We're often asked what the most popular professions are for freelancers and independent workers. This is not as easy a question to answer as it seems. Independent workers serve all industries, work with both businesses and consumers and participate in pretty much every job type and profession.

2019 215

Coworking is Disruptive Innovation

Small Business Labs

The term disruptive innovation was coined by Harvard professor Clayton Christensen and popularized by his classic 1997 book  The Innovator’s Dilemma.

2018 247

Why Independent Work and Coworking Increase Mental and Physical Well-Being

Small Business Labs

McKinsey's  The overlooked essentials of employee well-being focuses on how companies can improve the well-being of their employees.

2018 256

A Look at Non-Employer Businesses from the SBA

Small Business Labs

The U.S. Small Business Administration's (SBA) Office of Advocacy recently released A Look at Non-Employer Businesses , a one-page summary of key data on non-employers businesses. "Non-employer"

2018 245

What Independent Consultants Want

Small Business Labs

The Forbes article Breaking The Faustian Pact: What Motivates Professionals In A Gig Economy World? covers a study comparing the motivations of independent consultants with consultants working at big consulting firms. As the article chart below shows (click to enlarge), there are big differences.

2019 194

Coworking Doesn't Need a New Name, But the Office Space Industry Does

Small Business Labs

There's a mini controversy going on around whether or not coworking needs a new name.    The recent Allwork article Why Coworking Needs a New Definition covers the new name side.

2018 242

Connecting Artisan Makers With Retailers and Customers a Rapidly Growing Industry

Small Business Labs

Two companies that connect artisan makers with retailers and customers announced large funding rounds last week. The wholesale marketplace Faire raised $100 million while the wholesale and licensing business Minted said they raised $208 million.

2018 236

The Growth of Side Gigs

Small Business Labs

That side gigs - part-time or occasional work to supplement income - have become more common is hardly new news. Nor are the reasons behind the growing number of Americans with side gigs.

2019 146

Comparing the Risk Profiles of Independent Workers vs. Traditional Job Holders

Small Business Labs

One of the clear findings from the MBO Partners State of Independence study series is that, on average, independent workers (freelancers, independent contractors, the self-employed, etc.) and those with traditional jobs have different risk profiles. 

2019 151

Academic Studies Show Gig Economy Larger Than Government Data Suggests

Small Business Labs

Several papers related to the gig economy presented last week at the American Economic Association annual meeting caught our eye. 

2019 227

Study Says Over Half of Older Workers Suffer Involuntary Job Loss

Small Business Labs

ProPublica's If You’re Over 50, Chances Are the Decision to Leave a Job Won’t be Yours covers a fascinating study looking at the job paths of workers aged 50 or older. The study used data from the University of Michigan Health and Retirement Study.

2019 226

Freelancers Increasing Their Use of Online Marketplaces to Find Work

Small Business Labs

One of the biggest shifts uncovered by the MBO Partners State of Independence study series is the increased use of online marketplaces to find work by freelancers and other independent workers.

2019 163

Results from the European Freelancers Study

Small Business Labs

The European online talent marketplace Malt and the European Forum for Independent Professionals recently released Freelancing in Europe , a study based on a survey of close to 1,000 European freelancers.    The results are generally consistent with studies of U.S. freelancers.

2019 207

Bain Consulting on Predicting the Next Tech Disruption

Small Business Labs

Predicting the Next Tech Disruption from Big 3 Strategy Consulting firm Bain and Company discusses 4 forecasting tools (shown below) Bain uses to predict when disruptive technologies will be widely adopted.

2019 141

Facebook Announces Libra, a New Cryptocurrency

Small Business Labs

Last week Facebook announced Libra , a new cryptocurrency. It's designed for use in transactions and as an easy and cheap way to transfer money. 

2019 158

Accountants Save Small Businesses Time, Money and Stress at Tax Time

Small Business Labs

According to a recent Intuit survey , about 60% of small businesses with fewer than 20 employees use outside accountants to help them with their taxes.    And as the study chart below shows, this saves the vast majority of them time, money and stress.

2019 213

The Rise of "Wealth Work"

Small Business Labs

Quartz's Life coaches are the new personal trainer highlights a trend we've been tracking since 2008 , the growth of personal services.    These are what noted labor economist David Autor calls "wealth work"   A good example is the growth are personal trainers.

2019 199

32 Million Americans Say They Will Start a Business in 2019. Most Won't.

Small Business Labs

According to a recent Job Creators Network Foundation survey , "Sixteen-percent of Americans say they are likely to start a new business in 2019." "   This works out to about 32 million Americans. Most won't. 

2019 217