Do you fit self-employment?

   With the rapid development of service industry in Canada, the idea of self-employment is becoming more and more popular. Lots of talented people are attracted by its freedom or high salary; however, self-employment is not prefect and it doesn’t fit all kinds of people. Here are some advantage and disadvantages of self-employment. Are you the one who fits this type of job?

Advantages

> Flexible Working Time&Place

    There is no fixed work hour for a self-employed people, which means you can work whenever you want. However, once you sign a contract with your client, you must provide the service you promised on time. 
    In addition, with the development of Internet and IT industry, most of our job can be done on computer, so you are allowed to simply do the business at home instead of going to office every day. 
> Be Your Own Boss
    As a self-employed people, you don’t have any employers, so there is no people to decide and judge your work. Therefore, you have the freedom to utilize your skills. While you still need to satisfy your customer; actually, the relationship between you and your client is much closer in the case of self-employment, because you have more chance to meet and talk to them face to face.

Disadvantages 

> High Risk 
    You have to face all the risk of business by yourself if you are self-employed. For example, you need to pay all interests for liabilities as well as all operating expenses. 
    Moreover, you have to accept any losses when your business doesn’t work well. This is one of the most important reason why new self-employed people cannot extend their business easily. 

> Complex Taxation
    The taxation management for self-employed people is very complicated. The first thing you need to do is to keep the expense and revenue record of business separate from your personal account. 
   Unfortunately, since you are the only person in your company, you don’t have a particular accounting department, which means you need to do all transaction management by yourself.