Sometimes everyone dreams of being their own boss, don’t we? Often it can seem like it is more than easy to work as a self-employed person, but you should know all the advantages and disadvantages, especially if you are working in the beauty industry. Would this career suit you more if you were working from home or from the salon? Keep on reading to find out.
Self-employed pros:
- You can earn more per hour than as an employee
- Freelancers in the UK make around £50,000 a year, which is more than the minimum income
- You manage your own time
- You choose who you work with
- Manage your own time
- You can work anywhere in the world
- You work from home, meaning you save time & money for transportation
- Travel whenever you feel like
Self-employed cons:
- You have to keep track and keep accurate records of everything you earn throughout the year to fill out an annual self-assessment tax return form
- Need to be really slick and patient when it comes to organizing your free time
- You need to set-up your own private pensions, funds for maternity leaves etc
- Mortage complications – you will have to prove you’ve had a steady income in the last three years
Being employed pros:
- Paid holidays, as well as sick pay and maternity leave
- Workplace pension
- Steady working hours
- You work with colleagues (great if you prefer dynamic surroundings)
- You probably work the weekends off
- Pay tax automatically through PAYE
Being employed cons:
- You can’t choose or arrange your free time
- Your job isn’t as secure since you have constant competition, as well as a supervisor
- Always being monitored
Check out our available courses at CPBA: Click here.