1. You’re your own boss
When you’re self-employed, you’re your own boss. Yes, to some extent you still have to answer to your clients, but how you manage your business and your day-to-day work schedule is entirely up to you. There’s no higher-ups to give you a hard time, take credit for your work, or needlessly make your life difficult.
2. You can earn more money
The only reason that an employer pays you is because you make them far more money than you actually cost them. The design agencies I used to work for charged my time out at $120-$180 per hour, while I was paid a mere fraction of that. Now, as a freelancer, I don’t charge the same high hourly rate that is charged by agencies, but I do charge a lot more than I was earning when I worked for an agency, which is a win for both myself and my clients. When you’re self-employed you can also claim a lot more expenses on your tax than if you’re working for an employer.
3. You have less expenses
Being self-employed can also save you money too. If you work from home you no longer need to be for fuel, parking or public transport costs to commute to work. Even if you work from an office, you have the freedom to choose the location, so you can work closer to home – saving you both fuel and time. You may be able to cut down or eliminate your expenditure on office clothing. You also have the potential to save money on coffee and take-away food, as it’s a lot easier to make lunches home when you have access to your (hopefully fully stocked) kitchen at lunch time, and it’s a lot easier to find the time to make dinner when you don’t have to commute for an hour to get home. If you’re able to juggle working and kid wrangling, you also have the potential to save on childcare costs.
4. You don’t have to deal with the usual office drama
When you’re self-employed more often than not the only person you have to work with is yourself. This means you no longer have to deal with office gossip, personality clashes, egos, tantrums, or spending your work days with people you just can’t stand.
6. You have the freedom to buy things that you need for your job
Your computer is so painfully slow it’s impairing your ability to do your job? If you work for a typical corporation, the process of obtaining a new computer could means days, weeks or even months of submitting request forms to various departments, only to have your request rejected. But if you work for yourself and you need a new computer, provided you have the finances to pay for it, there is no one to stop you from going out and buying a new one on the spot (and it’s a tax deduction!)
7. You can set your own schedule
Working for a corporation, you’re typically expected to be at your desk from 9-5 regardless of whether that suits you or your work schedule. But when you’re self-employed you have the flexibility to create a schedule that works for you and your clients. Want to work until midnight and spend the morning watching TV in your jammies? No worries!
8. You can choose your clients
Working as an employee, you’re forced to work with whichever clients are sent your way. And if a client is incredibly difficult, rude or offensive, there’s not much you can do about it. But when you’re self-employed, you have the freedom to pick and choose your clients. Sure, when you’re starting out or you’re having a quiet week you might have to take on less-than-ideal clients, but you have the peace of mind of knowing that if/when they become truly horrible, you have the freedom to (politely) fire them.