A short blog about the advantages and disadvantages of running a business and being employed…
|Running your own business||Being employed|
|Buck stops with you for everything||Responsibility is shared – how much depends on the company!|
|You’re more in control||Someone else controls to some degree one third of your life.|
|You only get paid for the time you work||Holiday pay, sick pay, pillow days, bank holidays all paid for in varying degrees|
|It’s easier to be passionate about your own business||Often people feel stuck when employed|
|Flexibility – in theory you decide the hours you work and the amount you charge / earn||Someone else decides when you work and how much you’re worth|
|In practice often business owners work much longer hours and don’t take the time off they should||Lots of legislation to enable employees to work sensible hours – in theory|
|You get paid when your clients pay you||Weekly / Monthly pay|
|You’re unlikely to make yourself redundant or sack yourself.||These days employment isn’t as secure as it once was. You can be made redundant, dismissed, need to leave because of outside circumstances….|
|The ability to change direction, move with the times and work to your strengths||Often you’re held back by bureaucracy, budgets and managers perceptions|
|More job satisfaction||Can be at the mercy of managers and their mood swings|
|You can decide the clients you work for meaning a nicer working environment||You work with whoever you have to|
|Less travelling if you work from home – which has lots of added time, health and carbon-footprint benefits.||Unless you can work from home in your job (which is becoming more common) the average travelling time is around an hour each way|
|You’re at the mercy of your cashflow||No cashflow to worry about|
|Lots of different hats to wear – you need to be up to date with finance, sales, marketing, operations techniques etc.||Generally you’ll have your job and that’s it.|
|You can advance at your own pace – get more training etc.||Training will depend on the company.|
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