Studies have shown that people becoming self-employed have higher job satisfaction than those who work for a large company and/or for a boss.[3]

Becoming Self-employment creates unique opportunities e.g. extra income, time flexibility, enjoying a new way of living and doing work you are passionate about. All with the added benefit of being your own boss.

Further studies prove that an increasing amount of people are either self-employed, or in the process of becoming self-employed. [1][2][4][5][6]

Other studies show a common trend in long-term self-employment. These studies also suggest that the flow into self-employment is counter-cyclical, while the flow from self-employment is pro-cyclical.

The worldwide unemployment rate is on the increase. Several countries are in crisis, with the youth being affected the most. [9][10][11]

Lydia Gayton’s book – called “The Future” – states that the unemployment issue will get progressively worse in future. [8]

A rise in unemployment means less job security – the latter was an integral part of the workplace during the previous century. This is not the case anymore. Lydia argues that this uncertainty will lead to much bigger problems in future.

It’s quite clear that governments and/or big business will be unable to solve these problems. Governments can only provide a framework for people who wish to create their own  employment opportunities, to become self-employed and/or to start a small business. The possibility exists in certain countries, but it is not yet that ubiquitous.

People who are on the road to becoming self-employed are not only being driven by job scarcity, job opportunities and/or other factors related to the job market, but also by the development of new technology. The latter creates exclusive opportunities for people who are interested in becoming self-employed – it allows them to start their very own home-based business.

Technology makes it easier to start a business, because the focus is on skill sets and capital. The development of the internet, combined with technological advances in communication, 3D printers, medicine and manufacturing, has created new opportunities for the self-employed.

New home-based job types that didn’t exist in the past are being created e.g. freelancing and outsourcing.

The change in consumer trends – to find something unique and handmade – gave rise to the arts and crafts industry, which mostly consists of home-based businesses run by the self-employed.

The fluctuating job market leads to an important question: why is self-employment not growing faster?

There are several reasons for this

People are struggling with the paradox of working for somebody else. If you are employed in a company and have a boss, you do not have job security. You can lose their job any day. Although you are sure that you will get a salary at the end of the month. Somebody who is self-employed cannot lose his job, he has job security, he is his own boss. He is unsure about his income, or salary at the end of the month. So there is a uncertainty in both these situations. Everybody must analise his/her biggest risk or uncertainty with regards to income and having a job.

You may need a mind shift becoming self-employed

A mind shift, and/or a change in attitude, is required to understand this paradox. Some people refuse to make this shift.

Many people are reluctant to make “the jump” from secure to unsecured income. They don’t want to take the risk. This ideology is clearly influenced by the negative experiences of other people who failed to succeed in making “the jump”

We want to help you consider the issues involve in becoming self-employed in this section 

We’ll cover most of the issues you are struggling with such as:

  • What to consider when becoming self-employed
  • Self-employment ideas to help you make the right decisions

Self-Employed definition for different purposes

The self-employed definition varies. It is mainly defined in dictionaries, for business purposes and for legal reasons. Some of these definitions can be seen here.Earning income directly from one’s own business, trade, or profession rather than as a specified salary or wages from an employer.

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Consider these Advantages of Being Self-Employed

There are many advantages of being self-employed, self fulfillment and happiness are of the most commonly held and yet some of the most elusive dreams that people hold to in the modern world. Whether it is financial freedom, professional independence, or just early retirement, it boils down to being happy. Unfortunately, for most people, the idea remains a dream as they fail to find ways and means of making it a reality.

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Realize the potential Disadvantages of Being Self-Employed

Realize the potential disadvantages of being self-employed before you make the decision. Learn more to help you making an informed decision.The common perception amongst people is that being self employed means freedom from most professional and personal worries that others have to cope with. In a nutshell, people think that a businessman has a significantly easier life than a person who works for someone else.

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Most Common Risks of Self Employment

Becoming self-employed can be very rewarding. However, at the same time, it is a decision fraught with risks that need to be countered and balanced carefully. The reason for this is that there are many disadvantages of being self-employed. Here are some disadvantages or risks of being self-employed that you should try to avoid.

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How To Become Self-Employed

It is no easy task to become self-employed. On the contrary, it can be very daunting, but rewarding. Even so, there are countless people in the world who want to learn how to become self-employed. The rewards of learning how to be self-employed are many. Self- employment opportunities abound in the world and all you need to do is to recognise them. If you know how to become self employed then using those opportunities will not be a problem.

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[1] Telegraph London: http://www.telegraph.co.uk/news/uknews/9344366/Self-employment-hits-20-year-high-as-people-try

[2] The Independent:  http://www.independent.co.uk/news/uk/politics/report-450000-recently-selfemployed-brits-would-rather-just-have-a-normal-job-9262913.html

[3] University of Kent:  http://www.kent.ac.uk/careers/selfemployment.htm

[4] The Guardian: http://www.theguardian.com/society/2014/may/06/self-employment-uk-job-figures-analysis

[5] Fin24: http://www.fin24.com/Entrepreneurs/News/10-of-SA-workforce-now-self-employed-20130408

[6] Self-Employment as an Alternative to Unemployment by Ellen R. Rissman.

[7] Home Based Business: The Hidden Economy by Joanne H Pratt.

[8] The Shift: The Future of work is already here. Make the shift, get the skills you need from the right connections change how you think about work. Written by; Lynda Gratton.

[9] The Guardian: http://www.theguardian.com/world/series/youth-unemployment-crisis

[10] Global Policy Organization: http://www.globalpolicy.org/component/content/article/219/46726.html

[11] Global Finance Magazine: http://www.gfmag.com/global-data/economic-data/worlds-unemployment-ratescom