Top Reasons to Switch to Self-Employment

Are you tired of trying to meet deadlines? Does acquiring new clients while managing various tasks make you feel stressed? If so, you need to start looking for self employed jobs. Being self-employed reduces stress and task management problems consistent with being an employee. It also opens up the opportunity to be your boss and do things at your own pace.

If you are hesitant about resigning from an office job to pursue your freedom, you are at the right place. In this guide, we shall look at several reasons why self-employment is the best decision you can make. 

What Is Self-Employment?

Before we delve into a list of the multiple reasons that make self-employment so great, it is a good idea to touch upon what self-employment is:

• Self-employed individuals do not get paid a consistent salary or monthly wage
• They do not have employment rights or defined responsibilities
• A self-employed person can also be simultaneously employed if they choose to be a business owner/freelancer in their free time after completing job hours

Examples of Self-Employed Jobs

A few self-employed jobs include:

• Life coach
• Make-up artist
• Actor
• Acupuncturist
• Barrister
• Chiropractor
• Dentist
• Accounting
• Financial adviser
• Illustrator
• Interior and spatial designer
• Musician
• Photographer
• Private tutor
• Sports coach
• Web designer
• Content writer
• Technician

Types of Self-Employment

Freelancers

Freelancers may or may not work on ongoing projects. They usually work with several clients at one time. Examples include graphic designers, content writers, and photographers. Most freelancers land jobs using online freelancing sites, job portals, and social media.

Small Business Owners

Small businesses may be those that ship products or offer online services. Owners run a small business similar to a large-scale physical business with several processes and systems. Examples include tiny cafes and e-commerce sites.

Independent Contractors

Independent contractors provide a certain service after a verbal or written agreement or contract has been signed. The timeline is also defined beforehand. While some contractors work for one particular company, others are independent and responsible for their own expenses and taxes.

Examples include web developers, project managers, and realtors.

Why Consider Self-Employment?

You Are the Boss

Being your own boss is the greatest advantage of self-employment and also the most attractive. Opting for a self-employed job means that you are not answerable to anyone. You do not have an angry boss or nosy colleagues that you constantly need to compete with or become answerable.

Switching to self-employment means you are the head and your own competition. You can decide your deadlines, pace, and timelines as you desire. 

Increased Profit Ratio

Freelancers make 45% more money than those who are regularly employed. This is because it is possible to reduce expenses while freelancing while being an employee does not allow that freedom.

Self-employed means having your desired location, whether a home or office, defining your expenses for electricity/gas, and cutting down commuting times and costs.

Eating take-out during lunchtime or paying for child care while you are away at work are also some expenses that you can eradicate if you freelance or run a business from the comfort of your home.

Acquire a Better Skillset

Monotony is the enemy of talent and learning. Sitting all day at a desk doing a boring job in an office does not enhance your creativity and ability to learn or allow you to experience new things.

However, self-employment allows you to break free from this monotonous cycle by letting you explore new things and possibilities.

You will no longer need to read manuals provided by your boss or follow the same instructions day in and day out. Instead, you can choose to evolve and grow in the following ways:

• You can learn new skills
• You can opt for online classes and workshops
• You can directly talk to and deal with clients to improve your negotiating skills
• You can learn how to use various software you previously did not know to make your work easier
• Work on an innovative idea or product
• Hire people to work for you

Less Drama

The chance to get rid of office politics surely leaves time for more productivity. Working alone or remotely allows you to work without interruptions, communication issues, and unnecessary competition.

You can listen to music while you work, take breaks without being called out, and can clean/manage your work area on your terms.

You Own Your Workplace

Not only can you pick your location while being self-employed, but you can also choose the kind of workstation you need or the amount of area you prefer.

You can pick your preferred type of desk, decor, colors, chair, plants, and lighting. Just like you are the boss of office design, you also get to decide what equipment and tools you need, how many you need, and when it is time for replacements.

You Pick Your Clients and Schedule

Self-employment means you can choose the customers you want to work with. You can decide based on whether you will be able to meet their requirements, if the pay is enough and whether the client is easy-going.

You can turn down clients who pay less or demand too much of your time. You get to define your schedule and how much time you wish to spend on your job.

Disadvantages of Self-Employment?

There are a few disadvantages that come with being self-employed:

• No pay or incentives for vacations and sick days
• Your regular day could be possibly longer than an office day
• You are responsible for taxes, insurance, pension, and profit/loss
• Self-employment may make you feel lonely if you are social
• Starting a business from scratch or with low investment might be a challenge
• Financial conditions will not stay constant and will change regularly

Endnote

The COVID-19 pandemic promoted self-employment to a great extent. It also clarified that you can secure your future in case of any outbreaks, wars, or other socioeconomic issues by being self-employed. The recovery of the global economy and an increase in self-employment awareness will help you pave your path.