Self-employment: Why do it?

Self-employment: Why do it?
Why become self-employed?
In some sectors, such as the media, the Bar and the creative and performing arts,
self-employment is a standard way of working. For others, it is a lifestyle choice,
achievable by:
• setting up a business, either on a full-time basis or alongside a part-time job;
• working as a freelancer or contractor;
• buying into a franchise.
Whatever your choice, there are pros and cons.
The benefits
• Earn more money. Self-employed people generate their own income and profits.
• Freedom to do projects that you enjoy, move in different directions and take new
• Use a particular talent such as a technical aptitude or creative skill.
• Be your own boss.
• Choose your hours of work.
• Take charge of your future. Working for someone else makes you vulnerable to
redundancy, closures or mergers.
• Work from home or operate out of your own separate premises or move around
different locations as a contractor.
• Free yourself from the stresses of the conventional workplace - office politics, targets,
meetings and constant demands.
• Live off your wits and your own efforts rather than depending on an employer.
• Receive extra tax benefits

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