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Top 5 benefits of being self-employed

13th Mar 2013
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Self-employment in the UK has risen by 10%, as a direct result of the recession. More people than ever before are working on their own terms, and while they may not have thought it was the most ideal situation at the time, chances are they’re now seeing quite a few perks.

Being self-employed can bring with it a number of benefits, as working for yourself can often be much more rewarding than working for a larger company. If you’re thinking about taking the plunge, remember that working for yourself means you get to ….

1.Set your own work hours

This is probably the most talked about benefit associated with being self-employed. Everyone loves the idea of sleeping late, working whenever you want to, and having the occasional day off when you feel like it.

While all this is certainly possible, if you want to build your business up it might be better to set yourself strict working hours. You can still choose when you work – you might prefer to work from 1pm to 9pm rather than 9am to 5pm, for example, but you can often get better results by sticking to a set working pattern.

2.Choose your colleagues

Have you ever worked with people you don’t get on with that well? One of the benefits of working for yourself is that you get to choose who you work with, which can improve your productivity a long way.

3.And pick your clients

If you don’t like the sound of a client, whether you think they might be a little risky or you’d simply rather not do business with them, it’s your choice whether you work with them or not. Of course, sometimes you can’t be that picky, but if you feel the need to, you can always turn down a client.

4.Feel empowered

Earning your own wage and making money due to your skills can be incredibly rewarding, and you’ll often feel empowered thanks to it. You can build up your confidence and become more and more skilled in your niche, so you’ll be able to run your business with the greatest of ease after a while.

5.Work from home

And finally, one of the biggest benefits is that you’ll get to work from home. The idea of rolling out of bed and going to work in your pyjamas appeals to a lot of people, but just like setting your own work hours, it can sometimes be a little difficult to concentrate if you don’t dress the part.

You might find that working from home throws up a lot of distractions, in which case it would pay to either devote one room in your house to your work (by creating an office), or you could rent out a studio from which you can work. It’s up to you and after a while, you’re sure to get the hang of what’s best for you and the business.

Being self-employed can be incredibly rewarding, although there are sure to be a few hurdles you need to get over during your new employment. For instance, many people find the tax side of self-employment quite difficult. If you find you struggle with this, you can always contact a contractor accountant to help you with the various forms and files you need to send out.

Do you work from home and, if so, what are the biggest benefits for you?

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By abacusacc
14th Mar 2013 19:08

Self employed

The next question is sole trader v Limited

 

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