In the last few years the number of self-employed people in the UK has increased by a staggering ten per cent. The reason for such a big shift is thought to be the recession. Although the economy is now in recovery, people who had seen self-employment as a necessary move in order to survive the harsh market conditions are now finding that in fact there are many benefits.
Working as your own boss is often far more rewarding than working for a company. Other benefits include the following.
1. Being Able to Choose the Hours You Work
This is probably one of the biggest benefits of self-employment – the dream of being able to set your working day around other commitments. Imagine sleeping late if you need to, putting in as few or as many hours as you like and of course taking the odd day off without feeling guilty or that you are letting people down.
This is all possible when you are self-employed. However, it is worth remembering that, unlike when you work for a company, the business will not run itself without you, at least not in the first few years. Therefore it is usually a good idea to be quite strict about working hours and stick to a set pattern. For example, perhaps you might choose not to work 9-5 hours but 12- 8 instead. Once a pattern is established, it becomes easier to be disciplined and stick to it.
2. You Get to Choose Who You Work With
We have all experienced the difficulty of working with someone we don’t really like. Being self-employed eliminates this risk, as you get to choose who you employ. The better you and your colleagues gets long, the more productive the team is likely to be.
3. You Can Pick and Choose Your Clients
Just as with difficult colleagues, difficult clients can make for an unhappy work life too. Being self-employed gives you the freedom to choose not to take on a particular client if you feel they are a risk. Not surprisingly, there will be times when clients are thin on the ground and you can’t be too picky, but at least you can always keep at the back of your mind that in the end it is completely your decision.
4. Be Empowered
It is very rewarding using your skills to make money and work for yourself. You feel in control and empowered. The result is increased confidence, which in time will lead to you becoming better and better at what you do. Running your business will become second nature, as well as enjoyable.
5. Work from Home, Your Own Office or Anywhere You Want
Imagine cutting out the frustration of rush-hour traffic twice a day. Working from home saves you both time and money. Take care, however. Just as with your working hours, working from home can be quite distracting. The best way to counteract this is to dedicate one room in your house as your office and ‘go into work’ at set times every day. If you still find this difficult, consider renting an office locally. This is typically inexpensive (depending upon your needs) and can help you to be more disciplined. Having an office to go to can also help you to ‘switch off’ outside of your working hours, which is something many self-employed people find difficult to do.
In the end, being self-employed allows you to fall into a routine that suits you and your needs. It can be rewarding, both financially and emotionally. If you are considering becoming self-employed, you might like to look into the possibility of secured loans to get you on the ladder, whether with equipment or other necessities. Self-employed loans can also offer a great starting point to get your business off the ground.