Benefits of being self employed

There are many benefits of being self employed and these often entice people to make the jump from being employed (or even unemployed) to being self employed.

One main benefit of being self employed is the freedom available to you when working for yourself; you can make your own decisions regarding your working day, the actions you take without worrying about a disapproving boss and the direction your business takes. This freedom means with some types of businesses you can work for as little or as long as you want whenever you like, even during the night if you are most productive at this time. This obviously is not always possible depending on the type of business you may need to be customer facing during the day.

Once your business grows you have the opportunity of employing others to do your role, therefore reducing your working hours whilst still receiving an income. When being employed no matter how much work you do you will only ever receive your salary or hourly rate.

Motivation often appears when self employed, when you know if you don’t work you won’t be paid you will quickly become motivated to not just do the necessary work but to increase it, improve it and grow your business and profits. This often leads to many growth opportunities and feelings of achievement which would not necessarily be available to you if you are employed and working for others.

Fulfillment is another benefit of being self employed, when you have grown your business into a success you will feel a sense of fulfilling your goals and achieving your ambitions. Each time you make progress with your business such as finding a new client, contract or make a new sale or invention your sense of achievement will encourage you to carry on, work harder, grow your business and achieve more. This continuous growth will lead to huge levels of satisfaction.

The main benefit of being self employed is being the only beneficiary of all of your hard word, it is often disheartening to work hard all day for an employer which they then benefit from and you never receive any benefit or acknowledgement for your achievement.

Some would consider the legal and financial side of running a business or becoming self employed too stressful and would therefore be put off from moving further towards their dream however, it is possible to employ or contract other companies or individuals such as accountants, bookkeepers and lawyers, all of which can help you with things such as tax and contracting employees.