Why work self employed

Being self-employed doesn't mean that you have to do everything yourself. If there are aspects of your business that fall beyond your skill set or comfort level, you have the option of outsourcing work to skilled individuals. Creating a work culture and a way for other people to support themselves financially can also be incredibly rewarding.

Read more: The Advantages of Outsourcing. When you become self-employed, your potential earnings are ultimately determined by your own actions and initiatives. Unlike traditional employment where your income is regulated by a set hourly wage or annual salary, there is no limit on how much you can make at any given time.

You may not be guaranteed an immediate profit, but putting in the effort and making informed and strategic business decisions can help you achieve your desired earnings. Depending on your business, you may find that each day looks different. Traditional work settings often require people to adhere to a routine, which some find overly repetitive.

One of the advantages to self-employment is experiencing more variety in your day-to-day routine. A growing business means adapting, learning and overcoming challenges. For many, the variety is appealing because it generates excitement and creativity. In traditional work environments, you often work with a team of people every day. When you're self-employed, you're responsible for networking and cultivating those relationships on your own.

Networking can bring opportunities to collaborate with other business owners, which can turn into partnerships. Establishing those connections provide opportunities to meet like-minded and experienced individuals who can provide guidance on growing your business.

You also have the chance to establish direct lines of communication with your customers and connect with them in meaningful ways. Fewer free benefits - You will have to pay for your own vacation time, fund your own retirement plans, and buy your own dental, disability and life insurance. Paying taxes - As a self-employed person, you are solely responsible for doing all the paperwork and paying your taxes on time. If you are an independent contractor, you will pay estimated taxes quarterly to pay your Canada Pension Plan contributions and income tax.

From the Ontario Immigration website. Canada Business - Information about taxes, licensing, importing, exporting and much more. Start Up Info-Guide for Newcomers to Canada - If you want to start a business in Ontario, this guide will help you understand the government resources that are available to you. It has information about choosing your business structure, regulations, taxation and more.

But do you really, honestly, miss your co-workers? Even the one who listened to her music sans headphones? What about the guy who loved to talk loudly on his cell phone during his breaks…right next to you? Or how about the gem of a human being who shirked all of their cleaning duties on you?

Your favorite co-workers became your friends and are likely still a part of your life in that capacity. Everyone else?

Good riddance! Freelance writer Jennifer Lawler has been self-employed for so long that she was taken aback when, upon a recent visit to the hospital, she was asked if she needed a note excusing her absence:. Or fill out a stack of meaningless forms. Of course, we have to buy our own health insurance.

Our health coverage is no longer left up to a head honcho choosing the cheapest package. Want dual monitors instead of one? Prefer a standing desk? Knock yourself out. And framed photos of your friends and family? The more the merrier! Decoration regulations try saying that ten times fast! If you are working alone then there would be no social gatherings like that of corporate jobs.

There will be no social contacts or friends that you could make through your workplace. It might get a little lonely after a while and you might begin to miss the charm of working with a huge team and the celebrations that come with it when you reach the milestones in your project.

Working alone might achieve your milestone but celebrating with yourself is not that inviting and exciting! Before getting comfortable working from you, you might want to think about the various distractions that come with it.

If you have children then they are running around and the urge to play with you might distract you off from your work. Your helpers making the noise of cleaning and other activities they do. Your doorbell ringing like an alarm after every hour with some other person trying to get into your way of work can also lead to distractions. You might end up solving your personal issues more than your work issues.

Self employment comes with a boon of you being your own boss. You can get to take calls and clients based on what suits you and you can schedule your work from any place you want, be it your home or a coffee shop.

Till the point you are able to execute your projects, the clients are not bothered where you are! But every system comes with cons also and you need to be aware of them to make you mentally strong whether you want to adapt to this setup of work.

If you love and can manage, then you should go for it and be your own boss! Thursday, November 11, Book a Demo. Sign in. Forgot your password? Get help. Password recovery. How to Write an Elite Executive Resume?

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