Self employment
Self employment
What is it?
You are your own employer. You set up the business and run it. You have the initial idea, you get the finance to set it up and you make all the important decisions.
Suitable for you?
This is a great option if:
- You have a good idea for your own business
- Like the idea of being your own boss
- Have loads of energy and drive
- Are willing to take risks
Pros and Cons
The buck stops with you; you need to be prepared to make difficult decisions and carry them through.
- Decisions are yours to make
- You need lots of energy, commitment and drive
- You need to be fully aware of all the risks involved
- The rewards can be great if the business is successful
- A third of new businesses fail within three years
- You may work very long hours
