Self-employment as a career option
Self-employment is a term used to describe people who work for themselves. The person who is self-employed are their own boss as they have set up their own business and are making money from that business.
There are many advantages to being self-employed. A self-employed person will:
be their own boss and make all their own decisions for the business.
keep the profits for themselves and therefore will work hard to earn more profit.
have flexible working hours and therefore can take holidays/time off when it suits themselves.
have great job satisfaction as they take delight in watching their business grow and working at something they feel passionately about.
be able to try out new ideas and see them grow and develop through the business.
However there are many disadvantages to being self-employed. In some cases,
self-employment can involve very long working hours and so a person may find they have very little time for their family and miss out on social occasions.
the owner may not be an expert in all areas of the business and so they may make bad decisions that could lose the business money.
there may be difficulty with cash-flow in the business which could affect the owner’s personal finances.
income from self-employment may not be the same every month, therefore there may be times in the year when the self-employed person has very little income.
the self-employed person may be too inexperienced to take on the responsibility of all that a business entails and so by making too many mistakes, the business may never really get off the ground.