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The cons of self-employment

Dreaming of being your own boss? Know that it’s not all carefree and fun reporting to yourself. Here are some of the cons of being your own boss.

Woman working at home

Sleeping in because you make your own hours. Skipping a shower and sitting at your desk in your flannel PJs while you have your favourite soap opera on in the background. Taking a nap because you just feel like it after lunch. While it’s true that these scenarios all make being your own boss pretty fantastic, there are plenty of downsides that come with owning your own business. Read this list before making the leap and pursuing your entrepreneurial side.

You don’t get sick days

You may not have to account to HR for your vacation days, which is a nice perk, but on the flip side, when you’re not feeling well and take a day off, you don’t get paid. Feeling a bit tired? In an office, you can pretend to work (and still get your paycheque). If you’re self-employed, sure, you could take a nap, but that means you’re not working, and that means your client is not going to pay you.

You are responsible for all office resources

There’s no office supply closet to raid (well, unless you create one and stock it yourself). If your computer keeps freezing, there’s no IT department that can come help you sort out your laptop issues. And if you need to send out a package by courier? No intern’s around to package it up and call FedEx. You play this role too when you work for yourself.

It can be isolating

You may be blessed by not having to deal with all the personalities and office politics at your average office, but working day in and day out from home by yourself can be more taxing than you realize. You may speak to your clients on the phone or meet with them occasionally, but on a day-to-day basis, you will be flying solo. You may find yourself going a little stir-crazy from the lack of interaction and crave human company.

You don’t get health benefits

You could invest in your own individual health insurance plan, but you’ll pay more than when on a company plan. Plus, your benefits will likely be limited. Your days of submitting registered massage therapy receipts for reimbursement are over with an average individual plan. And you miss out on other corporate perks too, like having your gym membership paid for, for example.

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