Wethos Virtual Studios Announces Competition for Freelancers to Win $10,000 to Start Their Businesses
NASHVILLE, Tenn., February 14, 2022 (Newswire.com) - Wethos Virtual Studios, the leading platform for freelancers to team up and transform their one-person shops into full-service studios, has announced a new competition for freelance entrepreneurs getting their businesses off the ground. The competition, which launches on February 1, will award $10,000 to three entrepreneurs hoping to start their own business. Freelance founders that would like to grow their already existing business will also be eligible. Submissions will remain open until Monday, Feb. 28, 2022, and winners will be announced Wednesday, March 16.
"Hundreds of aspiring small business owners have submitted to the campaign, this is a reflection of the new normal we are living in. The pandemic gave professionals a chance to work differently, and calls to return to the office are driving even more people to an independent lifestyle that gives them freedom and flexibility over their time," says Rachel Renock, CEO and co-founder of Wethos Virtual Studios.
When compared with historical data, COVID-era quitting is almost 50% higher than expected and greater than ever before, with a mass exodus of 4.5 million employees leaving their jobs each month. An extra 1.4 million people were either laid off from their jobs or fired, and an additional 377,000 experienced some other form of separation from their jobs in November.
To submit the pitch, candidates will answer the following questions:
- What's your biggest hurdle to becoming an entrepreneur? *Or if you already are an entrepreneur, what's your biggest challenge?
- What's your greatest aspiration for your business?
- Share a link of something you're proud of developing, creating, delivering, or collaborating on
- How would you use $10,000 to start or scale your studio?
This is a national campaign, but New York and Atlanta residents will be more tempted to break up with corporate during their commute. Between wild postings in both cities, a takeover of the New York Waterway bus, and towering signage in downtown Atlanta, Wethos is making a statement all month long to encourage creatives to find the confidence to begin or continue their entrepreneurial journey.
In September 2021, Wethos announced a new $8M round of funding led by Third Prime, with participation from new investors Javelin, Full Circle, F7 Ventures, Clocktower, and Revolution's Rise of the Rest Seed Fund. Currently, there are 23,000 freelancers using the platform in 14 months, with 200 new users signing up a day, which have generated over $54M in projects by leveraging Wethos' tools.
"So we solved our own problem: first with software for our own business and—following the exceptional growth of the freelance market due to the pandemic," said Wethos COO and co-founder, Claire Humphreys, "This competition will help three new business owners master the challenge of starting a new company and avoid the mishaps we had experienced."
More information, including the submission form, can be found on the Wethos website; submissions are open Monday, Feb. 28, 2022.
Winners announced Wednesday, March 16.
About Rachel Renock and Claire Humphreys
Rachel Renock is the co-founder and CEO and Claire Humphreys is the co-founder and COO of Wethos. As former advertising executives working across big brands like Covergirl, Toyota and Hershey, they both quit their agency job at 25 in pursuit of more meaningful work. Rachel and Claire teamed up to build technology that helped them scale their own freelance studio to $1.4M in revenue in just 18-months, software that's now known as a Wethos Virtual Studios. Since its founding in 2016, the Wethos founders have raised over $12M in VC funding and has been featured in Forbes, TechCrunch, Business Insider and the New York Times in pursuit of her mission to put more money into the pockets of independents everywhere.