Disadvantages To Self Employment You Didn’t Know About

Disadvantages To Self Employment

 

 

Being self employed is a great lifestyle. I have worked for so many employers before, but never liked the idea of having to follow some one else’s orders. With this said, I now am a full time blogger and I enjoy what I do for a living. Below is a list of disadvantages to self employment based on my personal experience.

 

Disadvantages To Self Employment

 

 

Health Concerns

If you are self employed and work from home, you might not be eating well. The reason is because you will be so stressed, which is normal, You may find yourself snacking more often, and maybe drinking lots of soft drinks and etc. Be prepared to have an eating schedule to help you with your eating habits. Having said that, some people may gain weight and others may lose. So maintaining a good health may be a disadvantage to some people.

 

 

Wage Employment Vs Self Employment

Wage employment is whereby an individual working for an employer and gets paid a salary or wage biweekly or monthly. On the other hand, self employment is whereby an individual works for him or her self. They are their own boss. With all this said, when you work for someone, you will get paid each month or biweekly. However, when you are self employed, there are times where you might make less each month, especially when you are new to self employment.

 

 

Risk Of Failure

The risk of failing is a huge disadvantage to self employment. The reason I say this is because new businesses have the tendency to fail in their first years. If you want to learn how to avoid major issues when starting self employment, simply click here.

 

 

Disadvantages To Self Employment

 

 

Making Mistakes

When self employed, you will not have someone that will train you and show you how it is supposed to be done, just as is at a normal day to day job. You are basically “Self taught”. So when you work for someone else, and you make a mistake, they will bail you and teach you for next time.

 

 

Long Hours

If you don’t already know this, but when starting your own business, you need to devote so many hours into your business, especially at the beginning. This may take up some of your personal life. You may also not have a vacation for the first while.

 

Start Up Investment

Because you are newly starting your self employment business, your income may fluctuate at the beginning. So you will need to have some money saved up to live off of, in case you are short on money. And not to mention, if you are working and thinking about quitting your day to day job, ensure you don’t quit until you are at least making half of what you were earning from your day to day job.

 

 

Bigger Responsibility

Because you are in charge, it means you now need to pay attention to every little detail. Being self employed means you are now responsible for record keeping, payroll and income tax documents, and etc. A great go-to-guide for banishing your book keeping nightmares can be found here.

 

 

Thanks for visiting my site. If you have any questions or concerns about any of the content, please leave your comment below and I would be more than happy to connect.

 

 

RELATED:

Is It Better To Have An Office Or WFH When Self-Employed?

How to Start and Operate Your Own Home-Based Business By Ondine Rarey

 

 

December 20, 2017

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