Selfemploymentcouldbringmanyadvantages.Oneoftheadvantagesofbeingself-employedisthattheprofitthebusinessmakesbelongstotheowner.Iftheself-employedpersonsucceedsinbusiness,hehasthechancetoearnagreatdealofmoney.Theprofitearnedistherewardfortheowner’seffort,abilityandcreativity.Thus,asecondadvantageisthataperson’sintelligenceandabilitieshaveadirecteffectontheearnings.Athirdadvantageofbeingself-employedisthatapersoncancontrolhisworkinghours.Whilenotallself-employedpeoplearecompletelyfree,mostofthemhavemorecontroloverthisareathanthesalariedpeople.
However,beingself-employedisnotwithoutproblems.First,beingone’sownbossplacestheresponsibilitydirectlyonthatindividualshoulders.Everyonehassomeweaknessesinacertainaspects.Theseweaknesseswillaffecthowsuccessfulaself-employedpersonis.Second,thoughtheself-employedcanearnconsiderableprofitswithasuccessfulbusiness,lossescanforcethemoutofbusinessandsometimes,placethemindebt.Athirddisadvantageconcernsincomesecurity.Self-employedpeoplehavenoguaranteedwage.Theirearningscanvarygreatly,dependingonbusinessconditions.Salariedpeople,however,cangenerallycountoncontinuedearnings.
Inaddition,salariedpeopleoftenenjoyfringebenefitsthatmeangreaterpeaceofmind.Oneofthesebenefitsmaybeinsurancepaidforbytheemployerthatcontinuestheemployee’ssalaryintheeventofsicknessoraccidentwhilemanyself-employedpeopledonothavesuchprotection.
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