7 Advantages Of Being Self-Employed

It can be a really tough dilemma, having to choose between seeking employment and starting something of your own. Thoughts of the rigor of starting a business and having to shoulder the tireless work of building the business often scares people from making it a choice. It is easier and more convenient to submit resumes and appear at interviews. But this option too has its deterrents.

The alarming rate of unemployment in the country makes every job opening a fierce competition between applicants. Applicants that sometimes turn out to be overqualified for the job, but the seething frustration of having failed numerous times to secure a job from previous job seeking ventures makes them settle for the available job. At that point they would have thought half bread is better than none.

It is often discovered while on such faute de mieux job that there is a missing element. Some employees in that situation complain of lack of passion for the job, some grow to feel underpaid, while some others tend to struggle with the demands of the job. Employees don’t usually find any of these situations comfortable. It leads them to look for a way out and the way out in many cases, brings them back to initial dilemma, getting another job or starting up a business.

Finding oneself in a reoccurring space of job related complications can really be frustrating, asides from the pity figure one appears to be to friends and acquaintances; it drains happiness out of such individual. This is perhaps the reason starting a business is a better option, if that dream job is not available. Although entrepreneurship is usually tough at the nascent stage of the business, it pays off eventually. Research has shown that 36% of people that start businesses earn more than they would be have earned as an employee. Some other benefits of being self-employed are:

  • You are the boss

One of the reasons people make the entrepreneurship move is to get freedom from a difficult work condition. Starting up a job of your own spares you of the complications of working with a difficult boss. When you’re self-employed, you no longer have a “higher-up” governing your every move. You control how your work is done, which is a contributing factor to general job satisfaction.

  • You choose your clients or customers

As an employee, you are bound to attend to anybody that shows up for business at your employer’s place, whether or not you like the person or the nature of the deal. But being an employer affords you the opportunity to choose your clients and determine the type of business relationship shared with other companies. You choose who you provide services to.

  • You are more valued

As a freelancer, you’re allowed a wider space to work i.e. you can get a job done with more freedom than working as a staff-in employee. This also contributes to overall job satisfaction.

Another satisfying benefit of being a freelancer is that you get credit for your own work. Also as you make reach-out efforts, you’ve even started to earn some name recognition, not just among your long-time clients, but from complete strangers as well.

  • You set your own schedule

Whether you have preference for a fixed schedule, or you prefer to mix it up with flexible long hours; as your own boss, you get to choose the option of work scheduling you deem suitable for work.

  • You choose the work condition

Being the owner of the job affords you the option to choose the work condition, i.e. determining the condition of work area, the staff character, the availability of equipment and instruments. Also it could also be found beneficial to determine how early the needed instruments are made available.

  • It allows you diversify

Being self-employed gives you the allowance to attempt new business adoptions. For instance, diversification in business which is related to business growth, is much easier exercised at the intended time, when you own the business and not that the power of decision making is shared or not in possession.

Also being self-employed does less to restrict the extent of your business diversification. You, as an employer, are allowed a relatively free-hand in business decision making.

  • You earn more money

According to the statistics on bidsketch, on the average freelancers earn 45% more than those who are traditionally employed.

Also, as an employer you can make certain deductions from business expenses that employees cannot, thereby keeping more of what is earned.

 

This article was written by Ibironke Oluwatobi. He tweets via: @ibironketweets

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