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Freelancer vs Independent Contractor: What's the Difference?
When it comes to working independently, there are many different titles that people might use to describe themselves, including freelancer and independent contractor. While the terms are often used interchangeably, there are some key differences between the two.
What is a Freelancer?
A freelancer is typically an individual who is self-employed and offers their services to clients on a project-by-project basis. Freelancers may work in a variety of industries, including writing, design, and programming. They are often hired for a specific project and paid a set fee upon completion.
What is an Independent Contractor?
An independent contractor is a self-employed individual who provides goods or services to another party under the terms of a contract. Independent contractors may work in a variety of fields, including construction, accounting, and consulting. They are typically paid by the hour or by the project, and they are responsible for paying their own taxes.
Key Differences
While there is some overlap between the two, there are some key differences between freelancers and independent contractors. One of the biggest differences is the nature of the work that they do. Freelancers typically provide services, while independent contractors may provide goods as well as services.
Another key difference is the way that they are paid. Freelancers are often paid a set fee upon completion of a project, while independent contractors may be paid by the hour or by the project. Freelancers may also be responsible for their own taxes, while independent contractors are always responsible for paying their own taxes.
Lancr - The Ultimate Solution for Freelancers and Agencies
Lancr is a platform that allows freelancers and agencies to connect and work together more efficiently. With Lancr, agencies can save 75% on fees and two hours a week paying their freelancers. We make it easy to pay your freelancers with smart payment routing and easy-to-use time tracking and approvals. By using Lancr, you can save time and money while still getting high-quality work from skilled freelancers.
Conclusion
Whether you're a freelancer or an independent contractor, there are many benefits to working independently. With the rise of platforms like Lancr, it's easier than ever to connect with clients and find new opportunities for work. By understanding the differences between these two types of workers, you can make the best decision for your career and your financial goals.
What’s a Rich Text element? 1
The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.
What’s a Rich Text element? 2
The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.
What’s a Rich Text element? 3
The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.
What’s a Rich Text element? 4
The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.
What’s a Rich Text element? 5
The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.
What’s a Rich Text element? 6
The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.
Why is ESG data expensive?
The costs of collecting, analyzing and storing data are not cheap. And unlike financial data, there is no standardized process for determining ESG scores.The complexity of ESG data and the lack of standardization in the process for assessing environmental, social and governance factors also makes it difficult to compare companies on these metrics. Regulators are trying to make ESG information more transparent by mandating that companies disclose them alongside their financials, but this is still materializing globally. Traditional providers such as MSCI or Refinitiv employ armies of analysts to get this data from corporate disclosures (if it exists) and then normalize that data and provide it back to you. This is a very expenive process, with lots of quality control, and importantly - because this data is not disclosed very frequently (companies typically disclose ESG related data annually), there is less incentive to have a continuous subscription to a ESG data feed, along with risk of information leakage. All of this results in very expensive, and limited annual contracts.
Why is ESG data expensive? 6
- The costs of collecting
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- The costs of collecting ation in the process for assessing environmental, social and governance factors also makes it difficult to compare companies on these metrics. Regulators are trying to make ESG information more transparen
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What’s a Rich Text element? 5
- The costs of collecting
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- The costs of collecting
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