Things You Need to Know About Self Employment
Self employment is referred to as a way of working for one's self without being employed by any organization. Self employed people make money and run their business solely or in partnership with others.
Self employment is a form of Entrepreneurship which is based on creativity, determination and business ideas of an individual. Even when the Government,groups, private firms failed to provide work for the unemployed, self employment will always be the second option to survive.
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Self employment can be categorized formal or informal, the formal self employment includes;
1. Livestock or poultry production
7. Buying and Selling
While the informal self employment includes;
1. Furniture and carpentry
4. Fashion Designs
7. Buying and Selling etc
9 Reasons for Self Employment
1. Job Creation : self employment is the answer to the problem of lack of job especially for the youth or unemployed. Self Employment provides jobs since the Government may not provide jobs for everybody.
2. Prevent Crimes : Self employment helps prevent crime but when someone is idle, such person can easily be lured into violence and crimes.
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3 . Development of Small Business : Self employment also helps develop small scale business which also contributes to the Nation GDP, Countries like China, Japan have benefited from the development of small scale Business
4, Provides Income : Self employment provide income and can make you rich after some times which also turns you to an employer of labour.
5. Fulfillment of Goals : Self employment help to fulfil goals as an Entrepreneur or one may be listed as word Billionaire oneday only if one can invest, do business and be self employed.
6 Personal Ego : if you realize you cant work under someone, then you can be self employed to achieve that drive
7. Unemployment : self employed is the bwst option to curb unemployment in which an individual could earn money for a living instaed of looking for work daily.
8. Personal Skills ; You need to be self employed so as to use onses talents to make money and earn a living. One can start a business business with his or her skill and start making some cash. That is one of the reason someone should be Self Employed.
9. Availability of fund : you can start a small business and be self employed if money is available. An idle cash or fund finds its use in self employment. Instaed of the money staying idle, why not start a small scale business and be self employed.
I hope you've learnt few advantages of becoming Self employed and avoid spending time, energy and money looking for work everytime and day. Thanks for reading.