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.

What is an Actuary?

We should admit that the world is always full of uncertainty, and many of us are worried about the risk of undesirable events. This fact makes the job of actuary more valuable, because what they good at is managing the risk and changing it into an opportunity based on their abundant knowledge on actuarial science. In today’s financial world, actuary is generally becoming an indispensable part, which encourages an increasing number of people to join this area. Here are some basic information about actuary that you should know before jumping into this career: 1.Job Description What actuaries do is to measure the risk of some events, as well as give advice to companies and clients. To be more specific, they figure out the likelihood of future events with the help of plentiful calculation and experience. In order to provide reliable analysis, they must have a deep understanding on both statistics and finance . ...

UnknownMay 18, 2017 at 11:26 AM
Since we learned about self-employment this week, your blog satisfies me because I am curious and want to know more about self-employment. I agree with your opinion that self-employees is risky and you have to do everything on your own, therefore, not everybody can become self-employee. And after reading your blog I feel that I don't fit this type of job :). Besides, I have nothing to dislike your blog. You did a good job, Judy.

GLC2O

Search This Blog