The software business world is changing and it is now common to observe people who prefer freelancing over a regular 40 hour per week job due to rapid growth and flexibility offered by freelancing. Although there is an unmatched degree of freedom and independence that a freelancer enjoys but on the other hand it may not be much attractive for a regular 9 to 6 job employee who enjoys consistency and settlement throughout his or her career.
The world of freelancing has its own advantages but it is definitely not perfect and has many pitfalls. The biggest risk for a freelancer is the frequency of work which day by day is diminishing due to high competition and the increasing unemployment rate which produces more and more desperate people that offer to make the job done in a much lesser amount. There is also a high probability of fraud as well, as according to the statistics gathered by MastersDegree, the majority (80%) of the freelancers have not been paid by their employers at some point in time after completing their task.
Folks at MastersDegree.net have created a very useful infographic that depicts all the major pitfalls of freelancing. If you happen to be a freelancer or are planning to become one then you might find this extremely handy!