Making the decision to become self-employed can be pretty daunting. Whether you’ve been working as a part of a company for a period of time, or are a young and enthusiastic individual with a great business idea, eager to venture out into the world, deciding whether or not self-employment is right for you isn’t easy. The concept of self-employment is both exciting and risky.
Many people shy away from self-employment because of the dangers and risks associated with going self-employed. Although going self-employed is a potentially risky step, it’s important to remind ourselves of the benefits of self-employment, and why so many people take the plunge.
What Are the Benefits of Being Self-Employed?
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Taking Control
Arguably the biggest motivating factor in becoming self-employed is the power and enjoyment that comes with being in control of all aspects of your business. Many people who have worked for a company as an employee may get tired of being told what to do, especially if they do not have a close working relationship with their superiors. When you’re your own boss, you decide what happens within your company, you choose the target audience, you pick the look, style and culture associated with the brand that you want to create. You also get to choose the location and hours that you work. Two huge factors when it comes to making the transition into self-employment.
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Job Security
The risks associated with self-employment are far greater in the beginning, as they’re more likely to have an influence. As time goes on, however, and your business starts to grow bigger, so does your job security. Unlike traditional employment where your boss has the ability to let you go at any time when you work for yourself, you’ll never have to worry about getting sacked. The knowledge that you are in full control over your future can be a big motivator in running your own business.
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Utilising Your Skills
One of the biggest and most rewarding benefits of being self-employed is the ability to showcase your best and most effective skills. As you are creating your business from scratch, you get to decide what the focus of your work is. You get to tailor your company around your passion and area of expertise. This is hugely inspiring for anyone thinking about leaving traditional work as many individuals find themselves limited to the parameters of their position, unable to utilise their best and most effective skills, which can make many people feel like they aren’t being used to their full potential.
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Greater Earning Potential
In regular employment, you are stuck within your agreed salary. In most cases, this can get increased on an annual basis or involve yearly bonuses, but generally, there is a cap on your earning potential when working in a certain career. When working for yourself, you have a much higher chance of earning a greater amount of money. This may take time to achieve, but when your business reaches the point of profitability, your earning potential grows significantly. You may even reach a point where you have the ability the expand and upscale your business to help it grow further and increase your earning potential even more.
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A Sense of Pride
The ultimate advantage of self-employment is the sense of pride that can be achieved. Seeing your business grow from a start-up to a potential national level organisation or franchise is a hugely satisfying feeling. Most of the time, however, you do not need to reach those sorts of levels to feel a sense of accomplishment. It’s the small milestones that mean the most. As your business starts to grow, you gain a greater feeling of being established and with continued success and more correct decisions, you have the ability to create a business that can involve members of your family or can be passed down to your children. A business that leaves a legacy is something that is worth more than anything.
These are just a number of the many advantages of self-employment, all of which are achievable with the help of Access Training Academies. We have an extensive range of courses available, across a variety of industries that you are able to complete in order to get fully qualified and kick-start your journey into self-employment. Click below to view our full range of courses and gain both the experience and credentials you need to become your own boss.
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Last updated 5th July 2022
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