The Pros And Cons Of Self-Employment

For many individuals, the question of working with a company or becoming self-employed is a long and painful comparison of pros and cons or everything you can lose and gain in self-employment. Self-employment is the first step of professional independence. It isn’t completely similar to becoming an entrepreneur, where your company is a separate entity. When you are self-employed, there is no company. It’s you and the client. Consequently, this makes administrative, financial and creative matters extremely personal. Check out for more information.

You Can Struggle Financially

Let’s be honest from the start. Embracing self-employment can be synonymous with financial struggles at first, as it is difficult to guarantee regular work. And there is no way around it: when you don’t work, you are not paid. Consequently, you may find yourself accumulating personal debts at times, whether to deal with unexpected expenses or to try to get by while you are waiting to find your next client. If this is the case, consolidated loans is a way to manage your debt loans by organizing one regular repayment option. Additionally, it may be a good idea to plan financially in advance so that you can avoid long periods with no business.

You Have No Colleague

While working on your own avoids a lot of the stressed office environment, it also means that you are more likely to suffer from loneliness. Indeed, self-employment is a lonely choice of career, and even though you are working with clients, you will find yourself often working from home, which can feel like a form of isolation. Certain personalities are better suited for home-based working, but in the end, you will need to develop a strong strategy to keep yourself interacting with other people.

You Do Everything

Self-employed individuals need to manage everything in their work. This means that you are responsible for finding the clients, winning their business, producing the solution, and invoicing the client. Additionally, you will also need to manage your clients and maintain a polite and regular relationship with them – as this is key for future projects – as well as be in charge of your taxes. There is a lot to learn and a lot to do for one single person.

You Are Your Own Boss

However, as you are responsible for everything, you are also your own boss. This means that you can choose when and where you work, you can choose what to wear when you work, and much more. More importantly, if you’ve had a difficult relationship with your manager in the past, you will appreciate being the one in charge.

You Are In A Happier Place

In the end, self-employment offers a form of independence and self-control over your life that you can’t find anywhere else. Successful freelancers are quick to say that the financial struggles are worth the freedom that you enjoy. Everybody agrees that self-employment is a happier place than the office.

You Can Be Creative

If you are a creative individual, which is the case for over 40% of self-employed professionals, freelancing offers the possibility to explore your creativity further than any workplace would allow. Writers, crafters, graphic designers and other artists have embraced the creative potential of self-employment: A world of creations without limit.

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