disadvantages of self employment essay

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IELTS Model Essay: Self Employment

This week’s IELTS model essay is one of my favourite tasks! It’s on the topic of self employment:

Nowadays many people choose to be self-employed, rather than to work for a company or organisation. Why might this be the case? What could be the disadvantages of being self-employed?

Cambridge IELTS Academic 14 Test 4

In effect, this is an ‘advantages – disadvantages’ essay in disguise! The first question ‘why might be the case’ is really asking you for the advantages of self-employment. People choose to be self-employed because there are advantages.

So I think the question could be worded like this:

Nowadays many people choose to be self-employed, rather than to work for a company or organisation. What could be the advantages and disadvantages of being self-employed?

If you find it difficult to generate ideas for this task , you can simply search online for “advantages and disadvantages of self employment”. You will get lots of ideas! Here are some interesting articles:

https://www.nutcache.com/blog/self-employed-worker-advantages-disadvantages/
https://freelancinghacks.com/advantages-and-disadvantages-of-being-self-employed/

It’s probably a good idea to include some comparisons between self-employment and working for a company, because the topic isn’t only about self-employment: it includes the phrase “ rather than to work for a company or organisation” . So some comparative language is useful, and will increase your range of vocabulary too.

Reasons why (advantages)

Potentially higher earnings

may only get a small annual pay increase
self-employment: working harder can mean big financial rewards
don’t have to do what your boss tells you to do
e.g. make your own decisions
more flexibility with working hours / work

Disadvantages

Greater risk

no guaranteed income in self employment
employed people get regular pay
problem if you have mortgage
difficult to take holidays, may have to work weekends / evenings
working for someone else usually has fixed hours, finish by 5pm

This essay is quite long, so I decided to split my essay into four body paragraphs . This will make it easier for my reader to see the structure of my essay.

There seems to be a growing trend of people around the world choosing to be self-employed rather than to work for a company. This essay will consider the reasons for this as well as the drawbacks of working for yourself.

One of the main attractions of self-employment is the opportunity for higher earnings than you might receive when working for a company. In the latter, salaries are determined by your boss and increases are often limited, regardless of how hard you work. If you work hard as a self-employed person, the financial rewards are potentially unlimited, especially with online businesses. For example, using social media advertising can allow a solopreneur to rapidly increase sales.

But money is, for many people, not the main incentive of working for oneself. Instead, it’s the sense of autonomy you receive. You no longer have to do what your line manager tells you to do; instead, you can make your own decisions. This allows you to enjoy greater flexibility over things like working hours and the kind of work you do.

However, there are drawbacks to self employment. Firstly, there might be considerable financial risk. There is no guarantee of income, unlike those who receive regular pay cheques from their boss, and it’s not unusual to see new small businesses fail due to a lack of money. This is quite daunting for people who have regular expenses such as a mortgage, and so many people prefer the safety afforded to them by working for someone else.

Additionally, working for yourself will usually entail working long hours, sometimes at weekends and in the evening, leaving little time for the kind of recreation time enjoyed by workers who simply stop work at around 5pm. Furthermore, it may be difficult to take holidays if you work for yourself, so the work-life balance for self-employed people can be a problem.

In short, self-employment isn’t for everyone. There are clear drawbacks related to money and time, but for many people, the attraction of greater success and satisfaction is worth the risk.

(341 words)

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IELTS Advantages and Disadvantages Essay

This essay provides a plan and model response for an advantages and disadvantages essay in your writing paper.

Essay question:

Nowadays many people choose to be self-employed, rather than to work for a company or organisation.

Why might this be the case?

What could be the disadvantages of being self-employed?

My initial ideas:

Advantages-

You can create your own schedule
You can dictate your own pay
You can travel with work
You can experience a wider variety of work
You’re in control
You can expand and personalise your skill set and knowledge base

Disadvantages-

It may not be consistently financially successful
There may be periods of unemployment
You are responsible for your income
You are competing with many others
It may feel lonely

Essay structure

Introduction

Paraphrase the question

Outline main ideas

State opinion (if required)

Main body paragraph 1- Advantage

Topic sentence- example

Explanation- explain the benefits/advantages

Consequence- state the result

Main body paragraph 2- Disadvantage

Explanation- explain the problems/disadvantages

Summarise key points

Loop back to beginning

Many people nowadays are opting to work for themselves, rather than for a company. There is a more palpable shift towards self-employment and a greater detachment from more traditional working structures. This essay will demonstrate how self-employment can lead to financial freedom and more flexibility of one’s output, but it will also show how financial freedom can be risky and the idea of creative flexibility can be illusionary. Whilst acknowledging the drawbacks, this essay will argue how the advantages of self-employment outweigh the disadvantages.

One clear benefit of working for one’s self, is the possibility of financial freedom and creative autonomy. By being self-employed, one has the room to create your own salary. Rather than being hemmed in by a fixed monthly amount, a person working for themselves can exceed this and create a salary that is reflective of their work and one that does not impede them by wider company policy. Although some people can see pay rises, this is seldom seen in many industries and despite the extra hours people work, their pay quickly hits a ceiling. Whereas, self-employment means you are not determined by someone else’s view of what you should be paid. As well as this, someone who is self-employed has more creative control. This is highly important as being passionate about what you do should be a key characteristic with any job. By having more creative control, we can determine what we produce and the effect we want it to have. Therefore, we are in control and can enjoy the work we ultimately decide to produce.

On the other hand, there are obvious disadvantages to being self-employed. Firstly, it can involve some financial risk where each month does not necessarily look financially the same. There may be dips and troughs where the individual is learning less than the previous month. This could seep into other aspects of their life and make certain things difficult, such as paying bills. Secondly, having to be constantly creative can be more difficult than perceived and its reality not as utopian as it may seem. For example, if someone is starting their own business or creating a course, the sole creative output rests on their shoulders and this can be difficult to routinely produce, rather than having a brief to fill which is passed down from a senior or fellow colleague.

In conclusion, whilst there are disadvantages to being self-employed, I believe the potential possibilities and benefits of being self-employed outweigh working for a company. Whilst working for a company is preferred by some, the working world is shifting to a model that is more innovative, creative and less reliant on the traditional ways of work.

word count- 446

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16 Advantages and Disadvantages of Self-Employment

Self-employment has become increasingly popular in recent times, as more people are choosing to become self-employed and work for themselves.

This article will explore the many advantages and disadvantages of self-employment, and shed light on what it means to be self-employed.

Redaction Team
September 22, 2023
Entrepreneurial Ecosystem , Entrepreneurship

Advantages of Self-Employment

Autonomy and Control : Self-employed individuals have full control over their work, including the ability to make decisions about the business, its direction, and how work is performed.
Flexibility : Self-employment often allows for greater flexibility in terms of work hours and location. You can set your own schedule and work from home or other preferred locations.
Income Potential : Self-employed individuals have the potential to earn more money, as they can directly benefit from their efforts, expertise, and business growth.
Variety of Work : Many self-employed people have the opportunity to work on diverse projects, which can keep the work interesting and challenging.
Tax Benefits : Self-employed individuals may have access to tax benefits and deductions that are not available to traditional employees, potentially reducing their overall tax liability.
Personal Fulfillment : Self-employment allows individuals to pursue their passions and interests, which can lead to greater personal fulfillment and satisfaction with their work.
Creativity : Entrepreneurs and freelancers often have the freedom to be creative and innovative in their work, developing unique products or services.
Building Equity : If you own a business, you have the opportunity to build equity in your company, which can be a valuable asset over time.

Disadvantages of Self-Employment

Financial Risk : Self-employment can be financially risky, as income can be irregular and unpredictable. There may also be significant upfront costs to start a business.
Lack of Benefits : Unlike traditional employees, self-employed individuals typically do not receive benefits such as health insurance, retirement plans, or paid time off unless they arrange for these independently.
Administrative Burden : Self-employment often involves administrative tasks like bookkeeping, tax filing, and business management, which can be time-consuming and challenging.
Isolation : Working independently can lead to feelings of isolation and loneliness, especially for those who miss the social interaction found in traditional workplaces.
Inconsistent Income : The income of self-employed individuals can vary greatly from month to month or year to year, making it difficult to budget and plan for the future.
Lack of Job Security : Self-employed individuals do not have the job security that comes with traditional employment, as they are dependent on their ability to generate income.
Limited Benefits : Access to benefits like health insurance and retirement plans may be more expensive and limited for self-employed individuals compared to those offered by employers.
Work-Life Balance : Achieving a work-life balance can be challenging for self-employed individuals, as they may find it difficult to switch off from work or set clear boundaries.

Advantages of Being Self-Employed

One of the biggest advantages of self-employment is the freedom it provides. When you are self-employed, you have the autonomy to make your own decisions and chart your own course. You are the business owner, and you have the final say in everything. This level of control and independence can be incredibly empowering.

Another benefit of self-employment is the flexibility it offers. Most self-employed individuals have the option to work from home or set their own working hours. This means you can create a schedule that suits your lifestyle and enables you to work when you are most productive. Whether you are a morning person or a night owl, being self-employed allows you to work at your own pace.

In addition to flexibility, self-employment can also provide job satisfaction. When you are self-employed, you have the opportunity to work on projects that truly interest you and align with your passions. You are not bound by the demands of a traditional 9-to-5 job and can pursue work that fulfills you on a deeper level.

Self-employment also allows you to take advantage of various tax deductions and benefits. As a self-employed worker, you can deduct business expenses such as office supplies, equipment, and even a portion of your home if you have a dedicated workspace. These deductions can significantly reduce your tax burden and ultimately save you money.

Disadvantages of Being Self-Employed

While there are many advantages to self-employment, it is important to acknowledge the disadvantages as well. One of the main challenges faced by self-employed individuals is the long hours they often have to work. When you are your own boss, there is no set schedule or clocking out at the end of the day. You are responsible for the success of your business, which often requires putting in extra hours.

Another disadvantage of self-employment is the lack of stability and security compared to being a salaried employee. As a self-employed individual, your income can fluctuate greatly from month to month, and there is no guarantee of a steady paycheck. This uncertainty can be stressful and requires careful financial planning and budgeting.

Self-employment also requires a certain level of entrepreneurial spirit and business acumen. You need to have a solid business plan in place and understand how to market your services effectively. Without these skills, it can be challenging to attract clients and generate consistent income.

It is also worth mentioning that self-employment can be isolating, especially for freelancers who work alone. The lack of social interaction and camaraderie that comes with being part of a team can be a lonely experience for some individuals.

Conclusion of Advantages and Disadvantages of Self Employment

In conclusion, self-employment offers numerous advantages and disadvantages. It provides freedom, flexibility, and the ability to work on projects that you are truly passionate about. However, it also requires hard work, long hours, and financial uncertainty. Before deciding to become self-employed, it is important to carefully consider these pros and cons and evaluate whether self-employment is the right path for you.

From Hobbyist to Entrepreneur How to Turn Your Passion Projects into Profit

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The Pros and Cons to Being Self Employed: Unveiling the Truth

In the realm of professional life, the allure of self-employment often carries an irresistible charm. The promise of autonomy, flexible work schedules and the ability to pursue one's passion while earning a living is tantalising to say the least. However, like all things, self-employment is a double-edged sword. It also brings with it an element of uncertainty, potential financial risks and the absence of traditional employment benefits and support systems.

This article serves as a comprehensive exploration of the complex landscape of self-employment, shedding light on its various facets. We delve deep into the benefits of self-employment, illuminating the aspects that make it an appealing choice for many. Simultaneously, we uncover the harsh realities and challenges that often remain hidden behind the glamourous veil of self-employment.

Whether you're a budding entrepreneur teetering on the edge of taking the plunge, a freelancer seeking to understand your choice better or a curious reader, this balanced overview of self-employment is for you. Unravel the pros and cons, benefits and potential drawbacks that come with this mode of work to equip yourself with a holistic understanding. It's time to explore the terrain of self-employment in all its glory and complexity.

Advantages of Self-Employment

1. Freedom and Flexibility

The cornerstone of self-employment's appeal lies in the unmatched freedom and flexibility it affords. As a self-employed professional, you wield full control over your work hours and strategic decisions, giving you the liberty to structure your day as you see fit. This flexibility can promote a healthier work-life balance, allowing you to blend your personal and professional commitments seamlessly. Whether it's taking mid-day breaks, working from your favourite cafe, or aligning your work hours with your peak productivity periods - the reins are firmly in your hands. The ability to dictate your own terms is an undeniable advantage of self-employment.

2. Direct Impact and Ownership

In the sphere of self-employment, your effort's direct impact on your venture is clearly visible. Unlike in a traditional employment setting where individual contributions are often lost in the larger corporate mechanism, self-employment allows you to experience first-hand the results of your hard work. The immediate connection between your actions and their impact fosters a strong sense of ownership, enhancing personal fulfilment. Whether it's a successful marketing strategy or a profitable deal, every triumph feels more personal, rewarding, and motivates you to strive for higher peaks. This sense of direct ownership and impact is a distinctive advantage of self-employment.

3. Unlimited Earning Potential

Self-employment opens up the doorway to unlimited earning potential, unbounded by the constraints of traditional employment. Unlike a fixed salary job where your earnings are often capped by industry standards and job roles, being self-employed means your income is directly tied to your ambition, hard work and business success. There are no ceilings to what you can earn; the more you put into your business, the more you can potentially make. This prospect of unlimited earning potential is one of the most attractive aspects of self-employment, offering a unique opportunity to shape your financial destiny.

Benefits for Self-Employed

What are the benefits enjoyed by self-employed professionals?

1. Tax Advantages

Self-employment in India offers certain tax advantages that can optimise your financial management. As a self-employed individual, you are eligible to deduct legitimate business expenses from your taxable income. These expenses could range from office rent and equipment costs to travel related to your business operations. Additionally, specific sections of the Income Tax Act, such as Section 80C and Section 10, provide deductions and exemptions that could further lower your tax liability. However, the exact benefits can vary based on your business and its structure, making it advisable to consult with a chartered accountant or tax expert.

2. Skill Development

One of the understated benefits of self-employment in India lies in the breadth of skills you acquire and develop. As a self-employed individual, you often wear multiple hats, which requires a wide range of skills extending beyond your core expertise. Whether it's learning about financial management, marketing strategies, negotiation tactics or customer service, self-employment fosters a culture of continuous learning. This skill diversification not only enhances your professional growth but also builds resilience, making you adaptable to various situations. Consequently, self-employment serves as a dynamic platform for comprehensive skill development.

Disadvantages of Self-Employment

1. Financial Risk and Instability

Being self-employed often goes hand-in-hand with financial uncertainty and risk. Unlike traditional employment which typically guarantees a steady monthly income, earnings from self-employment can fluctuate drastically, depending on the market and your business performance. This can make budgeting and financial planning quite challenging. Additionally, you may have to make significant initial investments to set up your business, adding to the financial risk. Also, during lean periods, without the safety net of a regular salary, financial instability can cause stress and impact your overall stability. These factors mark one of the key challenges in self-employment.

2. Lack of Benefits

A significant drawback of self-employment in India is the lack of traditional employment benefits. Unlike salaried employees who are entitled to structured benefits such as provident fund contributions, health insurance and paid leave, self-employed individuals often lack such structured support. Although the government has initiated certain schemes for the self-employed, these may not offer the same level of coverage as corporate benefits. The absence of a guaranteed income during illness or holiday periods, coupled with the need to manage your own retirement savings, adds a layer of financial insecurity and risk to the realm of self-employment.

3. Increased Responsibility and Workload

The autonomy that comes with self-employment also introduces a heavier burden of responsibility and an increased workload. As a self-employed individual, you are accountable for all aspects of your business - from strategic planning and client acquisition to administrative tasks and financial management. This wide array of responsibilities often translates into long hours and high-pressure situations, which can potentially lead to burnout. The absence of a dedicated team to share the workload can also make time off more difficult to arrange. Thus, the increased responsibility and workload stand as considerable challenges in self-employment.

There are both pros and cons to being self-employed. While the freedom, flexibility, and unlimited earning potential can be enticing, it's important to consider the financial risk, lack of traditional benefits, and increased responsibility.

If you're considering self-employment, it's crucial to undertake thorough research and potentially seek advice from professionals such as accountants or business advisors. Despite the challenges, self-employment can be an incredibly rewarding career path for those willing to embrace the journey.

Frequently Asked Questions

1. how do i register as self-employed in india.

In India, the registration process for self-employment varies based on the type of business you're conducting. For sole proprietors, you may need to obtain a Shop and Establishment licence from your local municipal authority. For service providers, a GST registration is mandatory if your annual turnover exceeds ₹20 lakhs. Always check with a business advisor to ensure you've met all legal requirements.

2. What Can I Deduct as a Self-Employed Individual?

As a self-employed individual in India, you can deduct business expenses from your income to lower your tax liability. This may include travel expenses, office rent, utility bills, and equipment costs directly related to your work. For specific deductions applicable to your business, it's best to consult with a chartered accountant.

3. Can a Self-Employed Person Get a Home Loan?

Yes, self-employed individuals can obtain home loans in India, but the process can be more stringent than for salaried individuals. Lenders typically require at least three years of income tax returns, business stability proof, and a good credit score. Loan terms and interest rates may also vary based on your income stability and the nature of your business.

4. What Are the Social Security Contributions for Self-Employed Individuals?

In India, social security provisions for self-employed individuals are not as robust as for salaried employees. However, the government does provide some schemes like the Pradhan Mantri Shram Yogi Maan-dhan (PMSYM) for small scale workers and labourers, and the National Pension Scheme (NPS) which is open to all Indian citizens, including self-employed individuals.

5. Do Self-Employed Individuals Get Paid Holidays?

Self-employed individuals in India do not receive paid holidays as this concept is typically associated with traditional employment. As a self-employed person, you have the flexibility to determine your own work schedule, but any time off work directly affects your earnings.

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Nowadays More People Choose to be Self-Employed Sample Essays

Updated On Dec 08, 2023

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This article contains Nowadays More People Choose to be Self-Employed sample essays.

Given below is a real IELTS Writing Part 2 Essay question. We have provided sample essays as well as an essay outline so that you can practice writing your own!

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Learn how to write the perfect IELTS Direct Question essay for Band 9 score with the guide below!

Read the sample essay for Nowadays many people choose to be self-employed, rather than work for a company. Why might this be the case? What could be the disadvantages of being self-employed?

Direct Question Essay

Introduction

Sentence 1: Defining why people opt for self-employment.

Sentence 2: State the disadvantage in one sentence.

Paragraph 1: The primary reason that encourages the youth to opt for self-employment is the freedom that comes with it.

Paragraph 2: Being one’s own boss can be exhausting and stressful as they have to make extra efforts to keep their work going.

Restate main points.

Sample Essay

Today, an increasing number of individuals choose to work for themselves, rather than working for corporate industries or MNCs. I believe that individuals choose to start their own business because of the corporate world’s little work/life balance or the imposition of rules and regulations. Although there are several perks of being self-employed, a few things about self-employment can cause a lot of stress to an individual.

The primary reason that encourages the youth to opt for self-employment is the freedom that comes with it. If a person is self-employed, he has the liberty to choose his working hours and plan his schedule. Further, a self-employed business can earn a hefty sum of money for an individual, securing the future. But people (employees) doing a corporate job receive only the given salary, which makes it difficult to balance their work and life. Initially, these employees are required to work for eight hours a day, but when the competition increases gradually and becomes fierce, they’ve to work hard and for longer hours to stay ahead of the company’s competitors. Further, if an employee doesn’t perform well or if the employer feels that the employee isn’t worthy enough, they can be expelled from the company. Moreover, the employee is bound by the rules and regulations laid down by the company or the employer. Not everyone appreciates being bound by the rules.

However, being one’s own boss can be exhausting and stressful. A self-employed individual should be disciplined enough not to skip deadlines. By missing out on important targets and deadlines, the individual may undergo financial losses, and he must solely bear all the consequences, as a result of which the guaranteed paycheck at the end of the month is lost. Moreover, it takes several years for self-employed professionals to establish themselves in their respective fields. Therefore, there’s no guarantee that a self-employed individual will earn enough to live a comfortable life until then. Thus, there’ll be a huge difference in their daily routine, adversely affecting their mental and physical health.

To recapitulate, I think working for oneself is definitely beneficial as it enables them to work on flexible schedules with their own terms and conditions. But eventually, they may fail if they don’t meet set targets. Therefore, an individual should be aware of the pros and cons of self-employment before venturing into one.

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Band 9 Sample Essay

There is a significant splurge in the number of youngsters choosing the path of business rather than being restricted into the shackles of a cubicle and working 9-6 for a company. On top of that, an extensive range of putative and victorious businessmen are supporting these young entrepreneurs and helping them financially by funding their ideas. I believe that this concept comes with both merits and demerits and that one should be cautious when making this decision.

It is effortlessly evident that there are many reasons behind this rising trend of startup companies. To commence with, youngsters are finding it arduous to get a job as per their liking and preference. Individuals who wish to work in an acclaimed organisation or get a well-paid job must have high academic qualifications or years of work experience. Such requirements are somehow disqualifying a larger section of the job hunters. And then, there are people who desire to get riches in a shorter time period. To exemplify, a business can earn a hefty sum of amount if the idea is unique and targeted to the right type of consumer.

If looked at it from the different perspective, there are varying drawbacks as well. First and foremost, being self-employed doesn’t come with a guaranteed comfortable and luxurious life. When working in a company, there is a guaranteed amount that gets credited to the bank account at the end of the month. Another significant disadvantage that cannot be overlooked is that self-employed people, to make their companies successful, work throughout and the day and sometimes late in the night as well. This practice not just keeps them away from their friends and family but impacts their overall health as well. Hence, it creates an imbalance in their professional and personal lives.

To recapitulate, working independently is surely advantageous for youngsters as it allows them to work on their own terms and conditions. However, there are obvious disadvantages as well that must be considered before entrepreneurship is chosen.

Meaning: something extra you get, in addition to a salary, in exchange for working. Eg: One of the perks of being a programmer is that you get access to the 24×7 seamless WiFi.

Meaning: freedom Eg: In the absence of the teacher, the students got the liberty to peep outside the classroom.

Corporate job

Meaning: a job where an individual is working in a corporate organisation or a large company. Eg : Rose turned down her corporate job offer to only start a clothing store in the market.

Meaning: having or displaying an intense or ferocious aggressiveness. Eg : Mary’s father was fiercely attacked by the tiger in the forest.

Meaning: force (someone) to leave a place Eg : Due to his bad attitude, the security guard was expelled from the company.

Meaning: having a moral or legal duty to do something. Eg: Children were bound to follow the rules and regulations in the school.

Being one’s own boss

Meaning: have full control of a business or enterprise Eg: Jack’s friends were jealous of him as he became his own boss.

Recapitulate

Meaning: summarize and state again the main points of. Eg: Rose was asked to recapitulate the presentation.

Meaning: very tired Eg: John was exhausted after a journey of 8 hours.

Meaning: undertake a risky or daring journey or course of action. Eg: Joshua decided to venture in the dark.

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Janice Thompson

Soon after graduating with a Master’s in Literature from Southern Arkansas University, she joined an institute as an English language trainer. She has had innumerous student interactions and has produced a couple of research papers on English language teaching. She soon found that non-native speakers struggled to meet the English language requirements set by foreign universities. It was when she decided to jump ship into IELTS training. From then on, she has been mentoring IELTS aspirants. She joined IELTSMaterial about a year ago, and her contributions have been exceptional. Her essay ideas and vocabulary have taken many students to a band 9.

Post your Comments

Mehrasa-Elahian

Posted on Oct 16, 2023

In this modern world, an increasing number of people choose to be their own boss and, work individually. I assume this trend has risen due to the perspective they have about working in a company or a firm, or maybe idealizing the concept self-employing. The point is, we should be aware of both down and up sides of it. For this purpose, I am going to discuss in the further paragraphs. Firstly, being self-employed can be an appropriate choice for introverted people who cannot communicate with large groups and prefer to be isolated in a room while listening to a music. For instance, a friend of mine, couldn’t fit in the company she worked in and felt irritated while surrounded by so many colleagues. In addition to this, being you own boss means your schedule depends on you, and you have the opportunity to utilize all your time and energy the way you enjoy. Moving on to the negative aspects, the most important disadvantage is your balance in life may get ruined. You have no boundaries between the quality time with your family and other occupational meetings. Furthermore, you can be sure on your income, because the company is compelled to give you the salary at the end of each month but in this case, it is all up to you and, you may have no earnings in a month and no one is responsible for this but you. In conclusion, self-employment has pros and cons and, it can be an authentic choice for some. Yet, we have to be cautious about its drawbacks if we want to opt for this type of working.

IELTS Expert

Posted on Nov 29, 2023

Overall Band: 5

There are frequent lapses in the appropriacy of word choice and a lack of flexibility is apparent in frequent simplifications and repetitions. Grammatical errors are frequent and cause some difficulty for the reader.

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Genrcall-luis

Posted on Sep 2, 2023

Recently, while numerous people have had to fight so hard to achieve a great platform as a job, others pursue being self-employed to take control of their work schedules or have a higher income. However, financial risk and burnout are two significant drawbacks of entrepreneurship. To commence with, freedom and flexibility in working schedules might be the factor of this phenomenon. Due to the desire for greater control and adaptation of work hours to personal needs and balance work-life commitments. To illustrate, a freelancer can take care of his business in the morning and do other jobs in the afternoon than those employees who have to blind their lives with the work schedules because of the long working hours. Furthermore, by being self-employed, you have the possibility of higher earnings, especially if a venture becomes successful. However, being one’s own boss can be risky and exhausting. Firstly, irregular income patterns and personal financial risk, as business success or failure, directly influence the individual’s income and economic well-being. Moreover, burnout will appear daily, resulting from prolonged work stress and long work hours to build and maintain their business, especially when the business finances witness a terrible change. For example, Elon Musk, CEO of Tesla and Space X, had to spend 100 hours a week to operate his own business. In conclusion, the choice of self-employed offers various advantages like flexible schedules and more opportunities for a higher income. Still, it comes with potential financial risk and an overload in responsibility and working hours. Individuals considering self-employed should carefully weigh these factors to make informed decisions.

kavita Timbadia

Band 6 – The test taker has an effective command of the language despite some inaccuracies, inappropriate usage and misunderstandings. They can use and understand fairly complex language, particularly in familiar situations. For more practice material you can visit IELTSMaterial Store : https://store.ieltsmaterial.com/

Posted on May 28, 2022

In recent times, many individuals preferred their own businesses as compared to working for private companies or corporations. To my opinion, people opt for self businesses so as to earn a good amount of money with comparatively a flexible schedule with their own terms and conditions rather than being paid a fixed salary every month. To begin with, the main reason which allured people to start up and engage in their own businesses is the probability of making quite good financial gains. Individuals workings with companies are generally paid a fixed remuneration every month with little or no increments. The decision regarding salary increments totally lies with the company or organization. The other reason for establishing self businesses includes flexible schedules and working hours. People can work as per their availability without any force from anyone as they are not answerable to any higher authorities as in private salaried jobs. Overall people feel more happy and satisfied if they are their own boss and working style. Their could be certain disadvantages also for being self employed sometimes. Firts of all, being self employed is a risky job. All the losses has to bear by the individual himself or between the partners of the business. People may have huge financial losses if not working with the guidelines or not keeping themselves updated as per market trends. It become necessary for the individuals to become pefect all the time to prevent or avoid any mistakes. It sometimes may become stressful to handle the entire company single handed. To recapitulate, working for their own business may be financially good for a person but it comes with many responsibilities and accountabilities. If not met with guidelines may results into huge losses which could be the biggest disadvantges of self employment.

Posted on May 30, 2022

Band Score – 5.5

Concentrate on the correct usage of articles, prepositions, verb forms and punctuation.

Pay attention to spellings and word order in a sentence.

Use C2 level of words.

NISY JOHN PANICKER

Posted on Jan 10, 2022

The traditional culture of boss-worker is of less demand among present generation. Many individuals tend to be self-employed instead of working under another person. The freedom to make decisions and no strict rules at the work place makes individuals stand-alone. Though there are benefits, being self-employed has drawbacks as well. While being self-employed, people are free to make their own decisions and need not wait for another person’s approval in accomplishing their tasks. One clear example is, when they wish to have an off from the work or wants to go for a trip, they could simply take leave without getting any consent from anywhere. Furthermore, they prefer to have working conditions where no strict rules are imposed, for example, a dress code or a systematic working time, on them. A more flexible schedule is ensured by being self-employed. However, they are likely to get no employee benefits such as holiday pay and sick pay which are some of the benefits obtained by people while working for a company or an organization.. Also, they may face issues like increased responsibility and pressure as this individual is the prime authority for the whole running of the working system. They can’t rely on anyone else in case of a trouble or loss and makes them the sole bearer in every situation they face. In conclusion, while there are many plus points in being self-employed, these people tend to working much harder than they ever did for an employer, which makes them vulnerable to overwork and it’s consequence burnout.

Band score: 5.5

Concentrate on the usage of articles, verb forms and the difference between the contraction and the possessive of the word “it”

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Self-employed worker: advantages and disadvantages

Do you want to become self-employed? Do you want to weigh the pros and cons before working for yourself? Let’s be honest: it’s not easy, being self-employed. After consulting our list of advantages and disadvantages, you will be better prepared to face this reality.

Advantage #1: Savings on some expenses

When you work from home, you will save on some of the expenses that might have occurred at the office. So, instead of spending a fortune on work clothes, you can work in your pyjamas! Or, instead of depositing your change into a coffee machine, you can use your coffee maker at home!

Another important point is that some business expenses may be tax deductible . For example, did you know that it is possible to deduct business trip expenses (transport, accommodation, meals)? Do not hesitate to write down all your expenses and discuss them with your accountant!

Disadvantage #1: Unstable income

Although you may be able to save money by working for yourself, you cannot guarantee that your income will stay the same. Unless you have good contacts before you start, the first years of self-employment are often difficult. Without experience or contacts, prospecting new customers is laborious.

Fortunately, through perseverance, you will find clients and earn a modest income. However, you are not immune to late payments, which can affect your expenses. One of the solutions to prevent hardships is to build a financial cushion. And to accept instability.

Advantage #2: A more flexible schedule

One of the pleasures of becoming self-employed is being able to choose the hours when you work. Do you feel more productive in the morning? Organise your work according to your strengths and plan the most demanding tasks during this part of the day.

And if you need a break, no need to ask permission from your boss! You can schedule an appointment with your dentist in the middle of the afternoon and return to work later. As long as you can finish your assignments, nothing prevents you from taking a day off to rest.

Disdvantage #2: Difficulty picking up work

Earlier, we talked about income instability. If, on the contrary, you pick up a lot of assignments, it can be difficult to refuse new opportunities. After all, we do not know what the future holds, and this insecurity is quite understandable.

Another difficulty is being able to establish a boundary between your work and your personal life. Even if you love your job, it’s important to make time for yourself and your loved ones. Otherwise, you risk burnout, and your love of the job will suffer.

Advantage #3: The end of the rush hour

A study conducted in the Laval and North Shore region showed that the number of hours lost in the evening traffic jams doubled between 2014 and 2018. Imagine all the work you could do by reducing your travel time! Or imagine what you could do during this free time: go for a walk, prepare the evening meal, help your children with their homework, etc. In any case, you will feel less like you are racing against time. Result: your quality of life can only improve.

Disadvantage #3: Isolation

Working for yourself improves your quality of life. After all, you are your boss, and you decide on your schedule. On the other hand, you often have to work alone. Even if your job involves a lot of communication with your customers, you would not want to share your professional setbacks with them.

Fortunately, there are solutions to counter the isolation of the self-employed. For example, social networks provide many groups where you can share with your colleagues, which could also lead to face-to-face meetings. Shared workspaces (or co-working) are also avenues to consider. However, some of the cost, making them less accessible to those who cannot afford it.

Advantage #4: The freedom to choose your assignments

At the start of your life as a freelancer, you may have to accept more mundane assignments. But whether you need to pay your bills or add to your portfolio, these are all positives. Once you find yourself in a more comfortable situation, you will have the opportunity to choose the assignments that interest you.

With the freedom to choose also comes the freedom to refuse. Why waste your time with a customer who accumulates late payments? Just politely indicate the end of your collaboration, then move on. Are you overwhelmed by your workload and you have requested from a new client? You have the right to refuse. Remember: you are your boss and you have to take care of your business (and yourself).

Disadvantage #4: The loss of a client

The success of a self-employed worker is strongly linked to his efforts. However, there is also some luck behind success. Thus, sometimes your services arrive at the right time for your customers. Unfortunately, despite your efforts, you do risk losing one or more clients during your career.

Several reasons can explain this loss: a decrease in budget, customer bankruptcy, etc. And if by some misfortune, it was your most lucrative client, your financial margin will be reduced. That’s why it is recommended that you continue to prospect new customers, even if you are already experiencing prosperity.

Self-employment: a great challenge!

As you can see, becoming a self-employed person has its advantages and disadvantages. However, if that’s what you really want, it can be worthwhile, provided you are well prepared.

And in order to be well prepared, you must have the right tools at your disposal. Fortunately, the solution online Nutcache provides all the tools you will need. Log in today to try out the full version for 14 days! !

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Advantages and Disadvantages of Self Employment

Looking for advantages and disadvantages of Self Employment?

We have collected some solid points that will help you understand the pros and cons of Self Employment in detail.

But first, let’s understand the topic:

What is Self Employment?

Self-employment is when you work for yourself instead of someone else. You run your own business and make money from it. You’re your own boss, make your own work schedule, and take responsibility for the success or failure of your business.

What are the advantages and disadvantages of Self Employment

The following are the advantages and disadvantages of Self Employment:

Advantages of Self Employment

Control over work schedule – Being self-employed lets you decide your work hours, allowing for flexibility and balance between personal life and work.
Higher earning potential – With no salary cap, self-employment can lead to increased income based on your efforts and business success.
Creative freedom – Self-employment gives you the liberty to express and implement your ideas, fostering innovation and creativity.
No office politics – Without the typical office politics, you can focus solely on your work and business goals, reducing unnecessary stress.
Personal satisfaction from business growth – Seeing your business grow and succeed due to your efforts brings immense personal satisfaction and a sense of accomplishment.

Also check:

Essay on Self Employment
Paragraph on Self Employment

Disadvantages of Self Employment

No guaranteed income – When you’re self-employed, you might not have a fixed income every month. This can make budgeting and planning your expenses difficult.
Higher stress levels – Being your own boss can lead to increased stress. You have to manage everything yourself, which can be overwhelming.
Long working hours – Self-employment often means working longer hours than a typical 9-5 job. You might find yourself working evenings, weekends, and holidays.
No employer benefits – Unlike employees, self-employed individuals don’t receive perks like health insurance or retirement contributions from an employer. This can lead to additional costs.
Responsibility for all decisions – As a self-employed person, you’re solely responsible for every decision related to your business. This can be a huge burden, especially when things go wrong.
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If you have a related query, feel free to let us know in the comments below.

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Self-Employment Sample Answer [Two-Part IELTS Question]

Posted by David S. Wills | Mar 3, 2020 | Model Essays | 4

I recently encountered an IELTS writing task 2 question that was quite interesting. On the surface, it seemed as though it was an advantages and disadvantages question ; however, it was in fact a two-part question .

In this brief article, I’m going to show you the question, discuss it a little, and then give you my sample answer. If you just want the sample answer, you can skip to the bottom of the page. 😉

Self-Employment Question

Here is the question that was talking about:

Nowadays many people choose to be self-employed, rather than to work for a company or organization. Why might this be the case? What could be the disadvantages of being self-employed?

Looking at the structure, you can see that there is a sentence that introduces the topic, then two separate questions. This is how we know it is really a two-part question . For this sort of question, you need to answer both parts, so I would recommend a 4 paragraph essay structure.

Of course, you do need to be careful about the second question. It asks you to talk about some disadvantages . This does not mean that you need to list advantages and disadvantages! It’s not that sort of question.

How to Answer the Question

I find that two-part questions are honestly quite easy to structure. You should write something like this:

Introduction – outline the topic and say what your essay will do.
Body paragraph 1 – answer the 1st question
Body paragraph 2 – answer the 2nd question
Conclusion – summarize what you have said so far

Of course, you need to understand the question fully before you begin. First of all, you need to understand the key issue, which is:

self-employment vs regular employment

That’s right. You need to think about these two issues, with most of your thought exploring the former (self-employment). Part one of the question asks you:

Why might this be the case?

That means, why do people now choose to be self-employed?

Here are some ideas:

there are more opportunities
technology makes it easier
regular workplaces are oppressive
there are fewer jobs
you can work from anywhere

There are lots more ideas, but those are a few good ones.

You also need to view the opposite side of the issue for the second question:

What could be the disadvantages of being self-employed?

Here, you might mention one or two of the following:

lack of benefits/healthcare
unstable income
harder to get time off

Again, there are many more things you could talk about.

Sample Answer

Below, I will post my sample answer to this question:

It is quite common nowadays for people to be self-employed, rather than working for a company or organization. This essay will look into the reasons for that change, and then discuss some of the disadvantages of being self-employed. In the information era, it is quite possible for people to work at home on their computer. The internet has opened up all sorts of possibilities in terms of making money, and so people may work as freelancers or start their own company. It has never been easier to do this because in the past working for yourself required renting an office or shop, whereas now you can simply set up a website or social media profile. People typically prefer this because it allows them a great deal of freedom. A person who prefers nights and loathes waking up early might choose to conduct their business at night, whereas someone who likes to travel might work from a laptop while visiting different places. Of course, there are some disadvantages to being unemployed. This sort of employment lacks the security of a traditional job. In most countries, workers are protected by laws that guarantee them certain rights. However, with no employer and no workplace, these laws do not apply. Similarly, traditional jobs provide pension plans and health insurance, but when you work for yourself you have to provide these yourself, and they are not cheap. In fact, most self-employed people simply forego these things and take the risk as a part of their comparatively free life. In conclusion, being self-employed allows people a far greater degree of freedom in their life, but there are several significant drawbacks that mean this sort of work is not suitable for everyone.

Notes on Sample Answer

This answer would get a band 9 because it achieves the maximum criteria in each of the four areas covered by the marking rubric :

task achievement
coherence and cohesion
lexical resource
grammatical range and accuracy

Basically, I have answered all parts of the question fully and with enough detail and support. I have also structured my ideas logically and linked my paragraphs and sentences appropriately. My vocabulary is great, with no words misused or misspelled. As for grammar, I have used a range of sentences and made no errors. That last part is key! Some people think that you need to have lots of difficult structures, but it doesn’t matter about that if you make too many mistakes. In the end, it is a lack of errors that will get you a high band score.

About The Author

David S. Wills

David S. Wills is the author of Scientologist! William S. Burroughs and the 'Weird Cult' and the founder/editor of Beatdom literary journal. He lives and works in rural Cambodia and loves to travel. He has worked as an IELTS tutor since 2010, has completed both TEFL and CELTA courses, and has a certificate from Cambridge for Teaching Writing. David has worked in many different countries, and for several years designed a writing course for the University of Worcester. In 2018, he wrote the popular IELTS handbook, Grammar for IELTS Writing and he has since written two other books about IELTS. His other IELTS website is called IELTS Teaching.

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I am an IELTS teacher and Head of English at Minds Training Centre. I have been teaching IELTS for 25 years. I have one issue with your conclusion. The guidelines I follow are that it contains an evaluation and recommendation. This is what I teach my students. You have written a summary.

But there is nothing about recommendations in the question.

are there some disadvantages to being unemployed or self employed?

there are some disadvantages to being self employed I think.

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Nine (9) Advantages And Disadvantages Of Being Self Employed

Post author: Edeh Samuel Chukwuemeka ACMC
Post published: March 7, 2024
Post category: Financial Tips / Scholarly Articles
Post comments: 1 Comment

Advantages and Disadvantages Of Being Self Employed: Self employment could definitely be a profiting way to make a living, regardless of the fact that it could be tasking and a lot demanding as one get to handle or let every important decision about the business go through them, it could as well be profiting. When one is self employed, he or she is said to be their own boss as he does not answer to anyone with regards to his job.

Recommended: How to become a successful entrepreneur

Table of Contents

Meaning of Employment

Employment means the state of having a job or the state in which a person is employed and in most cases, the job in question is a paid job. In its general sense is the relationship which exists between two individual, which most times, it’s on a term of contract where the work being done is paid for, the person who is an employer, pays the employee. However the mode of payment may come in different methods which could be in the form of monthly salary, annual salary, hourly or weekly wage.

Meaning of Self Employment

To be self employed, one has to work solely as a sole proprietor or contractor, the person need not necessarily work alone as he would have others working under him, rather he would be the sole owner of the business. Instead of working in a company or establishment and being paid salaries, being self employed, offers one the opportunity of paying his own salary and also bearing any risk emanating from the business.

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Advantages (Merits) of Self Employment

Being self employed opens doors to many advantages which other form of business may deny. These advantages are :

1. Being Self employed puts you in Control: It’s no doubt that humans love being in control, therefore being self employed offers us the opportunity to be in control. Being self employed provides you with absolute opportunity to be in control in every aspect of the business, it allows you to structure the work environment you wish to have. Instead of following rules or having some rules being forced down on you against your wish, you get to make your own rules.

2. Creates an opportunity to be more passionate about what you do : The magic of self employment is that it allows you to engage in work which interests you, you get to do what you love doing and not what another wants you to do. Instead of presenting your idea to an employer who has no interest in your them and have he or she turn it down, you get to pitch the idea to yourself and execute it the way you please.

Advantages and disadvantages of being employed vs being self-employed

Also see: How to start a business with small capital and be successful

3. Work schedule : Isn’t it fun that you get to create your own work schedule; you get to decide where or when not to work, you get to work at your own pace? Being self employed helps grants you the opportunity to create your work schedule, however, while starting the business, the schedule would be a though one as one would get to work many hours and sometimes weekend all in the bid to build the business but once the business is strong enough, there would be stability which would allow you create a stable work schedule.

4. Team Meetings : In our respective work place, we get to endure sitting through unproductive hours of team meeting, we get to listen to our boss and co workers waste the time which if put into work would have increased productivity, but here we are, listening to long chatters as time goes by.

Being self employed would avoid this time killer as you get to plan about the business yourself, allocating time to yourself while doing it in other to be more efficient.

Also see: Most profitable skills to learn in 2022

5. Control over time management : Independent time as a person who is self employed means that you have more control over your how you spend your time which gives you more control over time management. You get to fix your schedule into allowing you to do other things like; going for the book club meetings, going to the gym and the rest of the extra work activity you wish to do.

Advantages and disadvantages of employment

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6. You choose your coworkers: Throughout your career as an employee, you will work with both those you like and those you despise the most. You are not given the option to pick your coworkers as an employee. It’s difficult if you don’t like your coworkers.

benefits of self-employment to the economy

However, when you run your own business, that is not the case. You get to decide who to hire and fire, and you can assemble a team that complements your personality and objectives.

Also see: Most Fun Jobs In The World

7. You determine your work environment: The benefit of being self-employed is that you can work wherever you want. You could either choose to work from home or locate a professional office space.

Another option is to set up your company so that you can work remotely. For those who want to travel frequently without it affecting their jobs, this option is particularly appealing.

Also see: Differences Between A Barrister And a Lawyer

8. You get the potential financial rewards: Yes, as an employee, you will be compensated for working extra hours. But you’ll rarely receive a cut of the money made from that work.

What are the problems of self employment?

In contrast, when you work for yourself, you get to see the financial benefits of your labor. Yes, there is always risk involved in starting a business, but if you do it right, the benefits far outweigh the risks.

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9. No Dress code: One benefit of working as a freelancer is that you don’t have to dress in a suit and tie. The same is true for women who work. If you don’t like wearing formal attire, you’d be content to work from home in your jammies or from a different location while wearing colourful clothes that express who you are.

Only when you are attending a meeting with your clients would you need to be dressed as a corporate employee.

Also see: Best online universities to attend in the world

Disadvantages (Demerits) of Self Employment

1. Paying more taxes : If you a self employed, you would realize that all that glitters are not really gold. This is in the sense that being self employed comes at a price. When it comes to paying bills, especially taxes, you would have to bare it alone. You pay more taxes as an employer than an employee, and no one would come to your aid as all the risk is on the owner of the business.

What are the main advantages and disadvantages of being freelance

2. No stable income : Yes, one would be able to save up money by just working for him but this does not guarantee a stable income. You would be bearing the entire risk of the business on your shoulder which would lead to spending more and sometimes earning less especially if it is a start up business.

Unless you have good financial stability before starting, the first few years of starting up a business would defiantly be fund consuming as lots and lots of expenses would be made. Fortunately, you may be able to find customers and clients within a short period of time and this would help stabilize your income to a reasonable extent.

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3. There would be difficulty picking work : Being able to choose your own work schedule has been discussed in the advantages, however, this may be difficult to do as you may find it hard to settle for work at a particular time and not having to do other things.

One may find it difficult to establish a healthy boundary between their work schedule and their personal life. However, work may consume all the time one has, living him with little or no time for his personal life. Also at start ups, you don’t get to have paid leaves as you do not have the time to go on leaves and need all the money you have got for your business.

4. Isolation : Working for yourself sure does make you the boss but this does not excludes the fact that it leaves you in isolation. This is because you often get to work alone excluding you from the company of your friends. It’s no doubt that you have to get in contact with customers whom you would interact with but you won’t be going around telling them about your personal issues.

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5. Losing a client : Rating a self employed worker is by the success of his work, he or she tries as much as possible to please his or her client but this does not exclude the fact that no matter how one tries, you would lose one or more client during your career. So many reasons could explain the reason for a loss of a client and sometimes, it’s simply no fault of your own.

Being self employed is a tedious task one would say. At the early stage of this self employment, it is work upon work, you strive to get your things together, paying bills, attending to new customers, sacrificing the company of your friends and a whole lot more, but I tell you, once you have done your work well at the beginning, you stand to enjoy the benefits of self employment.

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6. Difficulties in separating your personal life from your professional one: The daily duties you perform when you work for yourself are typically less predictable, which might lead to more stress than when you work for an employer. Your stress levels may also increase if you are required to do numerous tasks that are unrelated to your area of expertise and are solely responsible for their success or failure.

What are the pros and cons of being self-employed?

By being as structured as you can and having a distinct plan for your immediate and long-term goals, you can reduce stress. The strain of working for yourself can be difficult to handle psychologically, but having a strategy can offer you a sense of purpose.

7. Hard work and the time it takes to build a business: Operating a business on your own is quite labor-intensive. This is especially challenging during the formative years, which are also rarely fruitful. It may feel like an endless amount of work is put into the firm to get it to a point of financial feasibility.

employment vs self-employment advantages

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Business entrepreneurs frequently underestimate the amount of work necessary to establish cash flow, which leads to many failures in the first two years of operation. Without a solid cash flow, no company can continue to operate. Many people have had to shift their business approach to survive, frequently to something entirely different. And regrettably, many companies have eluded the government’s safety net and received no funding to ensure their survival.

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8. Variable Income: There is no guarantee that you will consistently make a certain amount each month, for example. You can experience incredibly profitable days or months, as well as those where you make nothing since you have nothing to do. You should prepare for and budget for the variable pay that comes with being a freelancer. You need to be ready for the month when there will be little to no payment.

Working for yourself may allow you to save money, but you cannot certain that your income will remain the same. The first years of self-employment are sometimes challenging unless you have solid contacts before you start. Searching for new clients can be time-consuming without experience or connections. Fortunately, with some perseverance, you will acquire customers and make some living. You are not, however, exempt from late payments, which can have an impact on your expenses. Building a financial buffer is one way to avoid difficulties. And be ready to face the uncertainties.

9. Having to do everything yourself: It’s crucial to focus on increasing revenue while keeping costs to a minimum while starting a firm. As a result, you frequently end up in charge of everything, including administration, sales, marketing, and so forth. A significant portion of this can be outsourced, but only if there is enough money or a desire to do so.

When you have always been in charge, letting go might be challenging! There may seem to be an endless list of duties to do, many of which may interfere with the primary goal of your business. If you were to make the wrong decision in your job, you would also have to handle everything yourself. You are responsible for covering all costs.

Edeh Samuel Chukwuemeka, ACMC, is a lawyer and a certified mediator/conciliator in Nigeria. He is also a developer with knowledge in various programming languages. Samuel is determined to leverage his skills in technology, SEO, and legal practice to revolutionize the legal profession worldwide by creating web and mobile applications that simplify legal research. Sam is also passionate about educating and providing valuable information to people.

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Career Advice

Self Employment Advantages and Disadvantages

What is self employment.

Self employment is a practice where the person works for self and not under any employer. Here working for yourself can be in the form of freelancing or owning a business.

Self-employed person is his or her own boss and generates revenue based on the services that they can offer.

They are working as freelancers who help the projects to be executed based on the expertise that they have to offer to the company. The services could range from financial help, technology-related, content writing, recruitment, or any other service that you have expertise in.

It is not the same as owning a business, as a business owner will not participate in the day to day operations of their company whereas a self-employed person will be actively working on all the aspects as they are the sole operators.

Self-Employment Statistics:

Only 56% of Small Business Owners Have a College Degree, Down From Previous Years Click To Tweet – source smallbiztrends
The number of self-employed workers has increased from 3.3 million in 2001 to 4.8 million in 2017, according to the Office for National Statistics (ONS). Click To Tweet – source bbc
In 2017, 18 % of the self-employed in the EU-28 reported having just one client or a dominant client. Click To Tweet – source europa
In the Netherlands in 2017, 31.3% of the self-employed declared that their client(s) had control over their working time. Click To Tweet

Let us now look at some of the merits and demerits of a person who opts self-employment.

Self Employment Advantages Disadvantages

Top Self employment Jobs:

Here are the top 25 self-employed jobs you can start today, which are actually fun by the way.

Uber Driver
English-as-a-Second-Language Tutor
Freelance Writer
Academic Tutor
Stand Up Comedian
Any Kind of Repair Work
Buying and Selling
Video Production
Music Tutor
Social Media Consultant
Career Coach
Mobile Repairs
Professional Speaker
Freelance Web Designer
Home Staging
Voice-over Specialist
Resume Writing Service
Grocery Delivery
Light Hauling

Importance of Self employment:

Though there are many benefits of self-employment, the first thing that comes to our mind is financial security. There are also many other advantages you avail when you are your own boss.

Here are a few points that show the importance of self-employment,

Understanding money’s real value
Knowing that your skills are good enough that others will buy
Option for retirement savings
Expense deduction
High risk, high reward.

Need of Self employment:

Being self-employed is not that easy. Though there are many advantages of becoming your own boss , but on the other side, the responsibilities you need to handle will also be huge.

There are a few traits that you need to possess for becoming self-employed. Some of them are,

Need to be flexible
Need to be a self-motivated initiator
Look out for opportunities and pursue them
Need to plan ahead
Put in a constant and consistent effort

For more information on self-employment, you can refer to this article (pdf file): https://download.nos.org/srsec319new/319EL25.pdf

Advantages and Disadvantages of Self Employment:

Merits or advantages of self employment:.

As an employee, you will always be governed by someone superior to you and would always be commanded around. This can be said as a disadvantage of being an employee.

Self employment is for people who hate to be bossed around and are talented enough to generate salary by selling their expertise independently. Let us look at some of the needs of self employment and the benefits of self-employed.

1. You are your own boss:

Do you hate that some lame person who is not as talented as you are, is governing you?

Do you hate the feeling of being told what to do and how to do all the time?

Well, it is time for you to start your journey from a salaried job to becoming self-employed where you are your own boss . You would be more pleased with what you do and hence lead a content life personally.

It is important to be happy and content with what you do that helps you lead a life with luxury. This is one of the advantages of self-reliance.

2. More opportunities to earn money:

Being self-employed, you can earn more than what you can when you were a salaried person, as the company deductions are not included in your earnings and you get what you receive.

You can start with the basic charges and slowly raise your rates based on the positive reviews that you receive for your work. The opportunities will knock on your door if you can give your clients what they want.

It is important to build good reviews as it puts extra weight on the rates that you are quoting.

3. There is less investment:

You can save a lot of your daily expenses based on the work that you choose. You save on gas as you work from the comfort of your home and thus avoiding the long commutes to your workplace like you used to.

Getting up early for meetings and hence going on expensive lunch outs can also be avoided and you can get to have a healthy and delicious home-cooked food .

Leaving your kid behind with daycare and wondering how your kid’s day has been could be taking an emotional toll on you.

One of the benefits of self employment is that you can divide time for your family and profession without taking anything else for granted and maintain a good work-life balance . You can also save on the expensive daycare expenses that adds on to your daily needs.

4. Variety of projects that you can execute:

When you are working in a corporate firm, your roles and responsibilities are defined and you are asked to work within a framework.

The structure does not allow you to explore other options that are creative and innovative as you need to stick to the designed solution as agreed upon by the seniors and clients.

Being a freelancer you can select new challenging projects pushing yourself to innovate and evolve at every step and hence, giving you job satisfaction .

5. Drama Free environment:

We always love to work in a team as we get the responsibility divided and hence also the work pressure.

But does working remotely and being isolated from everyone sounds really bad?

You would be free from the loudspeakers of your team who are continuously over the phone talking out loud. You would not have to hear to the music during work hours as your colleague plays on them on his or her phone. And your work friends will still be your friends no matter what.

6. No worries about the sick leave:

If you are ill then you don’t have to worry about whether you would be getting your sick leave or not. You can inform your clients regarding the health and take a day off from your work or resume a few hours later.

Also, you no longer have to beg or give long explanations on why you were on leave and prove your point on the fact that you were really ill. You have the liberty to choose your own health insurance based on your needs and not what your company has decided for you.

7. It is your work area:

It is your area and your call on, how you want to decorate it.

You can put up photographs of people or places you like. You can have fengshui items on your desk. Also, you can use dual monitors if you want or go for a single one, it is completely on you.

You can keep a standing desk, sitting desk just go for it. It is your work area and you can decorate it how you want to, not worrying about the company norms and what your colleagues will think.

8. You want new equipment, go get it!

In a workplace to get new equipment for your project, you need to go through a proper channel where you need to apply the requirement in the system and support that requirement with needed documents justifying your request.

Being a freelancer you don’t have to get into this channel of bureaucracy, all you have to do is get up, go to the market and buy the needed equipment for your projects. No worries about the approval process and no more waiting time.

9. No Dress code:

If you are not a shirt, pant and tie kind of a guy then this is one of the advantages for you to work as a freelancer.

The same goes with the female workforce also. You don’t like wearing formals and then you would be happy to work in your pyjamas at the comfort of your home or work in funky outfits that define you when you work from any place other than your home.

The only time you would have to be dressed up as corporate employee would be when you are attending a meeting with your clients.

10. It is your time and hence your schedule:

You know yourself best and would love to have the flexibility of working based on your time rather than the time set by someone else.

If you are not a morning person, then you set your schedule based on when you get back and work with an extra zeal and focus. You can ensure that you are able to connect with everyone on your project rather than missing a meeting because you got up late!

It is your schedule hence, making you more responsible regarding your planned day!

11. You are a valued person now:

When you are working in a corporate setup there are many people that you are competing against in terms of recognition and at times your work and efforts do get ignored because some other guy took the share of your cake.

Being a Freelancer, that will never happen as you would be working on the projects and the clients would appreciate your work giving you the full credit and share of recognition.

Your efforts will not go unnoticed and this will give you an extra boost to work harder for the upcoming projects.

12. You choose your customers:

You can choose for the customer you want to work for and avoid some senior guy sitting on your head forcing you to work on a project that you don’t want to.

If you are not happy with the attitude of a client then you will be responsible as you chose to work with him on a project. The responsibility to choose the right clients is on you as a freelancer and not on anyone else.

Hence, you need to be careful when you are bidding for your project and signing the contract.

Demerits or Disadvantages of Self Employment:

Every setup comes with advantages that we discussed above and also with disadvantages. As an individual, we need to take a call and move on the path of self employment accepting all the pros and cons of the setup.

Let us now look at some of the disadvantages of self-employment.

1. Paying more taxes:

Even if you’re a sole person working as a freelancer you would realize that freedom from the corporate world does come with a price.

You would end up paying a little more taxes than you used to as a corporate employee. You would be responsible for filing your taxes on time.

2. No more paid leaves:

There will be no more paid leaves for you. As a freelancer, if you are working on daily requirements and have taken few days off then there is a possibility of you missing out on those requirements and hence on the monthly payment.

You need to keep in mind that as a freelancer there is nothing called as paid leave.

3. Multitasking all the time:

Since you are working as a freelancer, you will have all the responsibilities of getting the project, executing it and closing it.

You would be responsible from head to toe till you start employing other freelancers or employees to your business.

4. Unsteady Pay:

There is no guarantee that every month you would be getting a minimum of say 1000 bucks. Some days or months you will earn exceptionally well while you can also end up with no payment at all as you had no projects in hand.

You need to be ready to face the unsteady pay structure of being a freelancer and plan your finance accordingly. You need to be prepared for the month where there would be minimal payment or no payment at all.

5. Socially you are isolated:

Being on your own comes at the price of being socially isolated. If you are working alone then there would be no social gatherings like that of corporate jobs. There will be no social contacts or friends that you could make through your workplace.

It might get a little lonely after a while and you might begin to miss the charm of working with a huge team and the celebrations that come with it when you reach the milestones in your project.

Working alone might achieve your milestone but celebrating with yourself is not that inviting and exciting!

6. Distractions at home:

Before getting comfortable working from you, you might want to think about the various distractions that come with it.

If you have children then they are running around and the urge to play with you might distract you off from your work. Your helpers making the noise of cleaning and other activities they do.

Your doorbell ringing like an alarm after every hour with some other person trying to get into your way of work can also lead to distractions. You might end up solving your personal issues more than your work issues.

Conclusion:

Self employment comes with a boon of you being your own boss. You can get to take calls and clients based on what suits you and you can schedule your work from any place you want, be it your home or a coffee shop. Till the point you are able to execute your projects, the clients are not bothered where you are!

But every system comes with cons also and you need to be aware of them to make you mentally strong whether you want to adapt to this setup of work. If you love and can manage, then you should go for it and be your own boss!

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Ielts essay # 1281 - nowadays many people choose to be self-employed, ielts writing task 2/ ielts essay:, nowadays many people choose to be self-employed, rather than to work for a company or organization., why might this be the case what could be the disadvantages of being self-employed.

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Disadvantages of self employment

IELTS essay Disadvantages of self employment

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The Advantages and Disadvantages of Being Self-Employed Essay Example

Pages: 2 (526 words)
Published: January 1, 2018
Type: Essay

Being an entrepreneur has both its advantages and its disadvantages. The advantages of being an entrepreneur are plenty, however being an entrepreneur can definitely take its toll on a family life and yourself as a person. There are many future options for entrepreneurs, but there are several risks involved in the growth of a business. This is why entrepreneurs must be prepared to take risks and endure losses.

One of the most important advantages of being an entrepreneur is the ability to be "your own boss". The entrepreneur decides when he/she is going to work. If they cannot come to work they don't have to worry about losing their job or answering to someone else. However there are also disadvantages of being "your own boss". That person is responsible for the employees, their scheduling and their paycheck

s. They are also involved in all financial aspects of the business, such as payment of bills, payment to suppliers and payment of rent (flea market, mall).

Another advantage of being an entrepreneur is that their incomes are usually in a fairly high range. There are several disadvantages that accompany a high income though. As an entrepreneur, your level of income can be at it's peak one week, then drop to rock bottom the next. The income is not always steady or reliable. It all depends on how business is doing. Also an entrepreneur typically has more overhead expenses than a regular employee. So even with a high income, after expenses some entrepreneurs may not be left with a lot of liquid cash to go home with, unless the entrepreneur can find a way to reduce their overhead costs.

One major disadvantag

of becoming an entrepreneur is the impact it can have on your family life. Particularly when first starting out, there is barely any time for leisure or social activities. In the beginning most entrepreneurs cannot afford to hire employees, therefore they end up taking on the majority of hours themselves. This leaves no time for family or anything else. Being an entrepreneur can be very stressful at first, and really impacts the person's environment. There is a lot of hard work involved, and anyone who would like to start their own business should really be prepared for the amount of stress their going to have to deal with, as well as the hours.

There are several future options for an entrepreneur. Fortunately in the business world there is an unlimited capacity for growth. An example of this is Mr. Singh's growth in the art and framing industry (the interviewee). Even a person who starts out in a flea market can grow to become a gross production manufacturer. However growth can be limited at some points. There are factors such as competition, limited funds or the loss of a supplier that can limit the growth of a business. Business can be very risky, as there are many future options for an entrepreneur, there are also many limitations. This is why business as a secondary career plan, rather than a primary plan, would be more beneficial especially for a student who is just starting out.

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Work Parallel
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Advantages of Self Employment. Control over work schedule - Being self-employed lets you decide your work hours, allowing for flexibility and balance between personal life and work.; Higher earning potential - With no salary cap, self-employment can lead to increased income based on your efforts and business success.; Creative freedom - Self-employment gives you the liberty to express ...
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Let us now look at some of the disadvantages of self-employment. 1. Paying more taxes: Even if you're a sole person working as a freelancer you would realize that freedom from the corporate world does come with a price. You would end up paying a little more taxes than you used to as a corporate employee.
IELTS Essay # 1281
Self-employment also offers the potential for greater financial rewards, as profits are not shared with an employer. However, being self-employed also comes with its own set of challenges. One of the main disadvantages is the lack of job security and benefits such as health insurance and paid time off. Self-employed individuals are also ...
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Disadvantages of self employment. Now a days people are self employed and we can see more number of companies in our society which are emerged with basic goals. The corporate world only welcomes talented personalities which may not employ certain people who are not up to their standards. Some talented people won't like to work under someone who ...
The Advantages and Disadvantages of Being Self-Employed Essay Example
Another advantage of being an entrepreneur is that their incomes are usually in a fairly high range. There are several disadvantages that accompany a high income though. As an entrepreneur, your level of income can be at it's peak one week, then drop to rock bottom the next. The income is not always steady or reliable.

IELTS Model Essay: Self Employment

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16 Advantages and Disadvantages of Self-Employment

Advantages of Self-Employment

Disadvantages of Self-Employment

Advantages of Being Self-Employed

Disadvantages of Being Self-Employed

Conclusion of Advantages and Disadvantages of Self Employment

Privacy Overview

The Pros and Cons to Being Self Employed: Unveiling the Truth

Advantages of Self-Employment

1. Freedom and Flexibility

2. Direct Impact and Ownership

3. Unlimited Earning Potential

Benefits for Self-Employed

1. Tax Advantages

2. Skill Development

Disadvantages of Self-Employment

1. Financial Risk and Instability

2. Lack of Benefits

3. Increased Responsibility and Workload

Frequently Asked Questions

2. What Can I Deduct as a Self-Employed Individual?

3. Can a Self-Employed Person Get a Home Loan?

4. What Are the Social Security Contributions for Self-Employed Individuals?

5. Do Self-Employed Individuals Get Paid Holidays?

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Self-employed worker: advantages and disadvantages

Advantage #1: Savings on some expenses

Disadvantage #1: Unstable income

Advantage #2: A more flexible schedule

Disdvantage #2: Difficulty picking up work

Advantage #3: The end of the rush hour

Disadvantage #3: Isolation

Advantage #4: The freedom to choose your assignments

Disadvantage #4: The loss of a client

Self-employment: a great challenge!

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