Self-employment

 

Self-employment is an option for workers in many career fields and industries.

Gig Employment:

The Department of Labor United States defines a gig as a single project or task for which a worker is hired, often through a digital marketplace, to work on demand.

Freelance:

Freelancing simply means you offer your unique skills or talent on a pay-for-service basis, outside of a regular employer-employee relationship. Common freelance options include:

• Web design
• Writing
• Repair work (specializing in jewelry, furniture, vehicles, or other areas)
• Landscaping
• Accounting 
• Photography 
• Personal training/fitness coaching

Start your own business: 

Some freelancers are running their own business, and even employing others to help them conduct their business. But here, we’re talking about running a business that has a physical location and/or employs others to make or sell goods or provide services.

BENEFITS OF SELF EMPLOYMENT

• OPPORTUNITY TO DO WHAT YOU ARE INCLINED FOR  
• MORE FLEXIBILITY BENEFITS OF SELF EMPLOYMENT 
• Expenses

OPPORTUNITY TO DO WHAT YOU ARE INCLINED FOR: 

IT can be easier to tailor self-employment directly to your own interests, skills, and values than it is to match those qualities as an employee.

More flexibility:

You can have more say over your hours, location, and working conditions such as dress code, break times, environment, etc.

Expenses: 

There are some work-related expenses you can often cut when you’re self-employed: you’ll often spend less on your commute and your wardrobe, and you can usually save more tax-free for retirement as well as deduct additional business expenses (but read about taxes in the below list of challenges too!)

CHALLENGES TO SELF-EMPLOYMENT:

• Self approach
• Taxes
• Increased risk
• Steps to develop Self Confidence

Is Self Employed better than employed?

It's much better than being on your own as when you're self-employed there is no one to look after you if you can't find work Job security and satisfaction. 

In self-employment it's hard to progress and you're only as good as your last job, whereas now I am part of the growth of a company.

Why it's better to work for yourself

• Working for yourself provides more job security than working as an employee in someone else's business because there is less risk, more control, and greater rewards. 
• You make the business decisions. 
• You diversify your income so your earnings don’t originate from a single source

 Reach out Author @ Er Abdul Basit