Deciding to become self-employed is something which should not be taken lightly as this type of work is vastly different to traditional employment and is not suitable for everyone. In this blog, we are going to discuss the main benefits of being self-employed so that you’re best positioned to decide if self-employment is the right fit for you.
- Freedom – Work how you want
In traditional employment, you are expected to do what your employer asks you to do. However, when you’re self-employed you have the ability to work how you like, there is no one who has the final say over you. You also have the option to turn down work, giving you the freedom to focus on the projects that interest you the most.
- Flexibility – Work when you want
Although being self-employed can mean longer days, you have control over your own working hours. This is one of the most alluring factors when it comes to people deciding to set up on their own and go self-employed, as they are looking to seek a more manageable work-life balance. Of course, running your own business means that you’re responsible for all of the admin, which can be, depending on the circumstances, take considerable time.
- Happiness – Higher job satisfaction
As a self-employed individual, you set your own objectives and goals. Achieving your own goals may be harder but the end result can be extremely satisfying and fulfilling when compared with traditional employment. Working for yourself can be very rewarding, as every effort put into your business has the potential to create more earnings, customers and long-term growth.
- Build a team – You choose the people who you work with
Just because you work for yourself, it doesn’t mean that you have to work alone! As a self-employed individual, you could be spending a lot of time working with your clients, not to mention the possibility of expanding your own workforce. Here lies another benefit of self-employment as you can choose who to hire or bring into your business, employing people who match your personality and ways of working.
- Financial advantages
As a self-employed individual, all the profits are yours! You control your rates and how much money needs to be invested into growing your business. However, this does need to be balanced against the benefits you will no longer be getting from traditional employment such as holidays and Sick Pay.
As a self-employed individual, you may also be able to claim specific business-related benefits such as travel and a number of your utility bills if you work from home.
- Location
Being able to choose your own working hours and the location (if you’re lucky enough) you can avoid travelling during peak traffic periods. Less time on the road gives you more time, time that you can spend earning or relaxing.
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