Increasing amounts of us are becoming more attracted to the idea of self-employment as a direct result of the credit crunch and the delicate economy.
4.3 million people were registered as self-employed by the end of 2013 and an increase of half a million people since the recession began in 2008.
The recession saw an extremely high number of people lose their job as a direct consequence of the credit crunch. The number of employed individuals has fallen since 2008 – 2014 and taking a step towards working for themselves and becoming self employed.
The Pro’s of Being Self-Employed
The independence and flexibility of working for yourself can be extremely attractive to people.
You can take holiday time whenever you wish, start early or late, finished early and have longer evenings – you can see why it can appeal to many.
However, self-employed people generally work a lot more hours than those in employment to bring in the income and to earn enough to cover bills or to earn enough to take holiday time away.
The Con’s of Being Self-Employed
When starting out as self-employed, you may have to consider working for free in order to build up a client base depending on your business type.
You may also need to spend money before making any. For example, if you are a builder, you will have to pay out for the materials and cost of hiring staff and equipment before being paid for the finished job.
You will also need to consider costs of advertising, creating boards, adverts in local newspapers and possibly a website.
Benefit From Advice
If your new business involves creating a logo for business cards, advertising and web design it is wise to protect yourself and register your business trademark and place TM or the ® symbol after your logo.
If your business requires you employing a small or large team of people then employment lawyers and solicitors in Kent, London and other large counties and cities can provide legal advice, assist with drafting employment contracts, creating handbooks for staff and laying out the key rules and regulations required by law.