One of the salient characteristics of freelancing is the freedom to set up pricing. However, there are myriad factors at play when setting up pricing rates for your freelance business, which makes it challenging. These factors include the type of services offered, production and operational costs, as well as the duration of the task/services rendered. Further, when determining pricing rates for your freelance business, it is important to factor in crucial factors such as the value of your business, the market price, and the competitors’ pricing. Pricing rates for freelancing are flexible and subject to change as such, it is important to always stay updated regarding any changes in your field that affect pricing. This “Setting Strategic Pricing And Rates For Your Freelance Business” Checklist lists some points to consider when setting up the pricing and rates for your business.