Being self employed means owning your own venture and running it. On one hand, it might look awesomely amazing, temptingly easy, extremely lucrative and an overall flawless plan. But, on the other hand, there is more to it than what meets the eye. Like every good thing in life, there are a few negative points attached to the self-employment as well. The advantages and disadvantages are related to this career choice.
Firstly, all the important disadvantages of self-employment can be summed as one big piece of bad news: nobody is taking care of self employed. There is no big daddy to turn to. The self employed are alone and responsible for themselves and often for a lot of others too. Moreover, they are not paid for sick days and they must pay for their own health insurance. There is no child care subsidy. It is not sure that every employee has this kind of coverage and benefits but no self employed has them. If self employed cannot work or there is no work for them they do not get paid. They also cannot apply for unemployment benefits.
However, the same thing that makes self-employment scary is what makes it attractive and adventurous. Nobody is taking care of self employed, but instead of looking on that as bad news, it becomes as good news: it means that the self-employed are in charge. They are responsible for themselves and often for others too. There is no big daddy to tell them what to do, how to do it and when to do it. Nor can they be fired. They have more control of their time and life. So, if they want to work until three in the morning all week to take four days off to go skiing – they can. If they want to start day late so they can have breakfast with friends or family – they can. If they are not feeling well and they want to stay home – they can. If they have great idea – they can try it. One of the less obvious advantages is the possibility of more money for the same work.