Published On: Fri, Nov 13th, 2020

The Pros and Cons of Being Self-Employed

The life of a self-employed person can seem appealing to many people. Perhaps you have spent years working for other people and are tired of having little to no say in your daily tasks. Perhaps you are intrigued by the flexibility of being self-employed. Perhaps you are simply ready for a change and looking for a new challenge.

Self-Employed

Whatever your reasons for being interested in self-employment, it is useful to have some idea of what to expect before you quit your job and make a commitment to the lifestyle! In this guide, we will explore some of the pros and cons of being self-employed.

The Pros

Flexible Schedule

One of the main advantages of self-employment is being able to work the hours and days that suit you. This can make it particularly well-suited to those with family commitments. However, depending on the industry that you are in, you may still have to keep to standard office hours or work on weekends and holidays in order to make profit.

Flexible Work

Feel like changing the way you work, the place you work in, or even the entire industry that your business is in? If you are self-employed there can be nothing stopping you from making these decisions.

No Boss

Dissatisfaction with superiors and employers is a common workplace problem that can affect all areas of life. When you are self-employed, the only boss of you is you!

The Cons

Many “Bosses”

While self-employed people technically have no “boss”, this doesn’t mean they have no-one telling them what to do! Every client can have different demands and having numerous clients can mean balancing many tasks simultaneously and having to organize your schedule very carefully. The upside is that if you don’t like working for a client, you can simply decline further work from them in the future.

Trouble with Work-Life Balance

When you are solely in charge of your business, this can mean spending more time “on the clock”. You may not be able to ignore issues and simply let someone else fix them. This can lead to feeling obliged to answer emails or do work in what is supposed to be your free time.

Lack of Income Stability

The lack of sick pay, bonuses, and other benefits can mean that self-employment is less financially stable than a salaried position with another company. As you won’t have a set wage, your income can vary drastically month-to-month. You will also have to market your business effectively yourself; although you can visit www.clickintelligence.co.uk for help with digital marketing.

Is Self-Employment Right for Me?

Not everybody will have the same experiences with self-employment. The specific field that you work in will also hugely affect how suited you are to the lifestyle. Before you decide whether self-employment is the right choice for you or not, it is useful to know that you enjoy and have skills in the specific field you will be working in.

Ultimately, nobody can make the decision except you! However, if you are curious about becoming self-employed, it can help to dip your toes in to test the water before diving in completely. There are plenty of businesses that you can start with little to no financial investment, in which case there may not be much to lose by giving it a go.

Another popular option if you are unsure is to work part-time at one job and use the remaining time to work on your side hustle to see how profitable it can be, so you don’t put all of your eggs into one basket!