The global economy changed over the years. The current time is characterized by a swift technological ecosystem that allows global value chains to benefit from substantial price and quality changes throughout the world. A logical response to this approach is that graduates, small business owners, nomads, travelers, and others see potential in a world of outsourcing, international work and perpetual traveling. Remote work therewith became part of life in the post millennium era.
Location independent work started with IT outsourcing to low income countries and gained further altitude when extensive and prolonged travel and work were combined. Work from home and home based business opportunities always have magnetic powers to parts of society. Digital nomads and perpetual travelers upgraded the freedom of a home based business by utilizing the internet while living abroad and sometimes even traveling from hub to hub. Even though not all of these business opportunities are legit, there are several ways to build a stable business with remote work.
Those seeking remote work can in general choose between local employment, location independent work via existing clients, and of course by using professional marketplaces for freelancers. Those seeking a career in online marketing can also promote or sell third party products. For the novice and those looking into remote work, it must be said that stability comes with motivation, perseverance and obviously appropriate market selection.
Remote work is interesting, but it also has its downsides. Employment and running a business involves compliance with local and often international regulation. This includes mandatory membership of professional associations, local registration and even taxation. Anti-avoidance legislation gets stronger and has an impact on remote work. Following the rules start with an understanding of the underlying legal frameworks. Global trade penetrates different jurisdictions and legal systems. Therefore, personal situations require tailored solutions. As such, remote workers should rely on professional advice to structure their administrative and financial foundation.