{"id":2289,"date":"2019-12-04T11:01:53","date_gmt":"2019-12-04T05:31:53","guid":{"rendered":"https:\/\/rzpwp.blog\/?p=2289"},"modified":"2025-02-26T10:53:54","modified_gmt":"2025-02-26T05:23:54","slug":"individual-business-and-freelancers","status":"publish","type":"post","link":"https:\/\/razorpay.com\/blog\/individual-business-and-freelancers\/","title":{"rendered":"The Easiest Way for Freelancers to Accept Payments Online"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">The definition of a dream job is not what it was a few years ago. Gone are the days when a \u201cdream job\u201d was working in a nice office or a well-established company. Today, the so-called dream job is to freelance. It\u2019s to do one\u2019s own thing and work on one\u2019s own terms.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It\u2019s not surprising then that the Indian workforce is swapping the security of a 9-to-5 job for the flexibility of <a href=\"https:\/\/razorpay.com\/learn\/what-is-freelancing\/\">freelancing<\/a>. Millennials and Indian workers facing significant lifestyle changes such as motherhood or adapting to newer lifestyle choices like working remotely have started to adopt more flexible and empowering ways to work.\u00a0<\/span><\/p>\n<p><em><strong>Here are some statistics that paint a clear picture &#8211;\u00a0<\/strong><\/em><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">It is predicted that freelancers will contribute to 50% of the nation\u2019s workforce volumes by 2025<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The Indian freelance market size is estimated to touch USD 25 billion by 2025<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">60% of Indian freelancers are under the age of 30 years today<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">On average, Indian freelancers work up to almost 40 hours a week; 160 hours a month<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The average income of freelancers across India is Rs 20 lakh per annum; 23% of them make over Rs 40 lakh per annum<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">However, despite the fast growth and healthy predictions for the future, the reality is that freelancers and individual businesses within this ecosystem are facing numerous challenges.\u00a0<\/span><\/p>\n<p><em>To find out how much GST is due for your goods or services, simply use Razorpay online <a href=\"https:\/\/razorpay.com\/gst-calculator\/\">GST calculator<\/a>. You can also use our <a href=\"https:\/\/razorpay.com\/gst-number-search\/\">GST Search<\/a> tool to check and verify the GST details of any taxpayer or company.<\/em><\/p>\n<h2><span style=\"font-weight: 400;\">Problems freelancers face<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">While talking to our existing merchants as well as the potential ones, it came as a surprise to see the kind of hassles these users were facing and the need to build a unique solution for them. Here are the top problems that the individual businesses face on a day-to-day basis:<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">1. Lack of knowledge around GST\u00a0\u00a0<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">To some, it seems that GST is just for registered businesses but nothing could be farther from the truth. Individual businesses and freelancers also come under GST laws. This raises the demand for freelancers to create GST-compliant invoices.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Freelancers are usually required to raise GST-ready invoices for their customers and their lack of knowledge in creating these invoices becomes a real challenge in the way they accept money.<\/span><\/p>\n<p>Related Read: <a href=\"https:\/\/razorpay.com\/learn\/gst-registration-guide-freelancers\/\">GST For Freelancers: Registration Process, Rates and Calculations<\/a><\/p>\n<h3><span style=\"font-weight: 400;\">2. Irregular &amp; late payments<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">For freelancers, payment cycles are always irregular and this can create an unpredictable financial crunch. To make things worse, freelancers often have to deal with <a href=\"https:\/\/razorpay.com\/docs\/payments\/payments\/late-authorization\/\">late payments<\/a> and in some rare cases, clients renege on payment commitments. In fact, studies show that 58% of freelancers have experienced not getting paid at all for their work. They end up spending inordinate amounts of time following up with clients for unpaid dues.\u00a0<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">3. Inability to showcase their brand<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Branding isn\u2019t just for large organizations or registered businesses. Branding is the secret sauce that aids in the success of a business of any size. And for freelancers, this becomes more important than ever.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">While most freelancers have a basic social media presence, they lack the technical know-how to be able to amplify their digital brand presence through websites and customized landing pages.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This creates a significant difference in the perceived value that a freelancer brings to the table compared to a registered business.\u00a0<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">4. Absence of seamless digital payment solutions<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The most common way for freelancers to accept money today is through cash or bank transfers. In both cases, management and reconciliation becomes a big headache, this problem is especially more pronounced for individual businesses that have large customer bases or handle significant volumes. Think of a homepreneur who sells homemade pickles around town &#8211; reconciling payments received could take up a significant part of their time, which could be better spent on growing their business.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">A holistic solution for freelancers to accept online payments<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">We are more excited than ever to announce the launch of our much-awaited product &#8211; <a href=\"https:\/\/razorpay.com\/freelancer-unregistered-business\/\" target=\"_blank\" rel=\"noopener noreferrer\">Razorpay for individual Businesses<\/a>. Whether you are a freelancer, teacher, boutique owner or a professional, now accepting payments is going to be easier than ever. We promise!<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Our research of the freelancer universe-spanning our existing customer base, social media and platforms such as Product Hunt has unearthed insights that we have channelled into our new product offering.\u00a0<\/span><\/p>\n<p><em><strong>Presented below are the key elements of our new product &#8211;\u00a0<\/strong><\/em><\/p>\n<h3><span style=\"font-weight: 400;\">1. Payment Links for quicker settlements<\/span><\/h3>\n<ul>\n<li><span style=\"font-weight: 400;\">Say hello to accepting payments via WhatsApp, email, Instagram, Facebook, SMS &amp; more<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Send quick payment reminders and accept recurring payments<\/span><\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-2296 aligncenter\" src=\"http:\/\/blog.razorpay.in\/wp-content\/uploads\/2019\/12\/inside-1-300x157.png\" alt=\"accept payments via social media\" width=\"630\" height=\"330\" srcset=\"https:\/\/blog.razorpay.in\/wp-content\/uploads\/2019\/12\/inside-1-300x157.png 300w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2019\/12\/inside-1-1024x537.png 1024w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2019\/12\/inside-1-768x403.png 768w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2019\/12\/inside-1.png 1200w\" sizes=\"auto, (max-width: 630px) 100vw, 630px\" \/><\/p>\n<h3><span style=\"font-weight: 400;\">2. An instant personalised page for better conversions<\/span><\/h3>\n<ul>\n<li><span style=\"font-weight: 400;\">Create a storefront with zero-coding and start selling, even if you do not have an app or a website<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Add this <a href=\"https:\/\/razorpay.com\/payment-pages\/\">Payment Page<\/a> to your Facebook, Instagram or any other social media page and <a href=\"https:\/\/razorpay.com\/\">accept online payments<\/a> instantly<\/span><\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-2298 aligncenter\" src=\"http:\/\/blog.razorpay.in\/wp-content\/uploads\/2019\/12\/inside-3-300x157.png\" alt=\"create a payment page\" width=\"631\" height=\"330\" srcset=\"https:\/\/blog.razorpay.in\/wp-content\/uploads\/2019\/12\/inside-3-300x157.png 300w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2019\/12\/inside-3-1024x537.png 1024w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2019\/12\/inside-3-768x403.png 768w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2019\/12\/inside-3.png 1200w\" sizes=\"auto, (max-width: 631px) 100vw, 631px\" \/><\/p>\n<h3><span style=\"font-weight: 400;\">3. One-stop solution for easy GST-ation<\/span><\/h3>\n<ul>\n<li><span style=\"font-weight: 400;\">Just add GST, discounts and shipping details to a single invoice and the calculation will be done automatically for you<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Send these invoices through any channel and get paid via credit\/debit cards, netbanking, UPI &amp; wallets\u00a0<\/span><\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-2299 aligncenter\" src=\"http:\/\/blog.razorpay.in\/wp-content\/uploads\/2019\/12\/inside-4-300x157.png\" alt=\"GST invoicing\" width=\"649\" height=\"340\" srcset=\"https:\/\/blog.razorpay.in\/wp-content\/uploads\/2019\/12\/inside-4-300x157.png 300w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2019\/12\/inside-4-1024x537.png 1024w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2019\/12\/inside-4-768x403.png 768w, https:\/\/blog.razorpay.in\/wp-content\/uploads\/2019\/12\/inside-4.png 1200w\" sizes=\"auto, (max-width: 649px) 100vw, 649px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Does this look like a tool designed for you? Sign up today and get started in a matter of minutes.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">At Razorpay, all we do leads to a single aim: asking our customers to leave their payment worries to us while they plan and unlock growth for their business. With this launch, we are looking to empower the gig economy to work better, faster and more efficiently.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Freelancing is no cakewalk and we\u2019re here to help you ride over the bumps with ease.<\/span><\/p>\n<p><a href=\"https:\/\/razorpay.com\/freelancer-unregistered-business\/\" target=\"_blank\" rel=\"noopener noreferrer\">Get started with Razorpay today!<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Whether you are a freelancer, teacher, boutique owner or a professional, accepting payments is going to be easier than ever with Razorpay.<\/p>\n","protected":false},"author":33,"featured_media":2293,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[26],"tags":[51],"class_list":{"0":"post-2289","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-payments","8":"tag-payments"},"_links":{"self":[{"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/posts\/2289","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/comments?post=2289"}],"version-history":[{"count":1,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/posts\/2289\/revisions"}],"predecessor-version":[{"id":20948,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/posts\/2289\/revisions\/20948"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/media\/2293"}],"wp:attachment":[{"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/media?parent=2289"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/categories?post=2289"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/tags?post=2289"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}