23 Advantages of Self-Employment

More and more we’re hearing that people are taking the leap into self-employment. While there are a number of disadvantages to self-employment many people cite a number of advantages to self-employment. Here is a list of 23 of those advantages.

• Many people who shift to self-employment state that an increased level of flexibility is the biggest reason why they take the leap. We will call this “life-flexibility.”
• Self-employed people are in control of their own raises. Basically, people are able to pitch or contract work with increasing rates of compensation if they so choose. There is no longer the need to go through a year of work, get reviewed by your supervisor and then see if you get a 3% cost of living raise.
• You have creative control over what you’re doing.
• Self-employed people can create the best job for their personality.
• Self-employed people often mention that they switched to working for themselves because it’s easier to care for their children. If they have a sick toddler, they are able to better manage that situation.
• You have the energy to clean your home more often!
• Depending on the type of business that you’re doing, you can volunteer much more easily.
• Work Life Balance is more easily achieved because you dictate how your day will go.
• The ability to actively network with people who will help further your business.
• Self-employed people can better manage their health and take time out of their day to exercise.
• If your business is virtual, you can work from wherever you’re based in the world-as long as you have a decent internet connection.
• You can help out your aging parents during the day
• You can help a friend during an emergency.
• Diversify income streams. Even in a bricks and mortar business there are numerous ways people are able to grow their business.
• When you are self-employed you can work more, which hopefully equates to earning more money.
• Likewise, you can decide to work less!
• You’re able to do your laundry and actually put it away immediately.
• Tend your garden, or do yard work.
• Go to classes and further your education.
• Better manage the problems that come up during daily life. If you need to have the plumber visit, get cable installed, or any other service that tells customers that there is a 4 hour window for when the service provider will arrive.
• You can go to your child’s school and volunteer.
• You can go to your child’s school when there is a problem.
• You can spend time with your pets.

There a number of disadvantages to working for yourself: cash flow problems, the continuous work of finding business, and the need for self-employed people to manage all of the different pieces of running a business. After looking at this list many people can see why self-employment is appealing to some people.