Career Advice

The Pros and Cons of Choosing Self-Employment Now

Hire Bulletin 14 July, 2021

At some point in your life, you might get the urge to move into the realm of self-employment. Maybe you're experiencing that urge right now. These are some of the pros and cons of working for yourself rather than another provider:

The Pros of Self-Employment

One of the main benefits of self-employment is that you manage yourself. You set your work schedule, and you decide whether you want to perform certain tasks. You can also choose to refuse to serve a customer who is disrespectful. Alternatively, you can choose to go above and beyond the normal call of duty for some of your customers. Self-employment offers a great deal of flexibility in terms of pay rate, scheduling, and environment.

The Cons of Self-Employment

One downside of being self-employed is that you may be responsible for paying for your health insurance and other benefits. Secondly, you may not have access to programs such as unemployment compensation. That might make it more difficult for you to bounce back financially if you can't find work in your field or when crises strike. You will also have a lot more responsibility in terms of reporting taxes and such.

Is Self-Employment for You?

Self-employment might be right for you if you're an independent person or an entrepreneurial spirit who has felt restricted from advancement opportunities. You may want to consider self-employment if you want to have more control over your earnings as well. You can consider doing some self-employment tasks on the side as you transition from one way of working to the other. You can even try a hybrid type of employment if it makes you feel more comfortable.

Take the time to consider the good and the bad when it comes to self-employment. When you're done weighing them, you can make a choice that's best for your own happiness and wellness.