Importance of Self-Employment

Self-employment or self-employed means working for one's self rather than for an employer. People should be aware of the many advantages of being self-employed. And the society today should conduct various seminars and programs to educate the youngsters today why they need to be self-employed, their advantages, what kind of steps should be taken to achieve as a self-employed or how they need to proceed. Since many educated and learned youths are increasing and there are only a few limited vacancy jobs or posts are available in the Government or public sectors, thereby the rate of unemployed youths increases tremendously in our society today. This increase in unemployment can lead to the increase in the rate of murders, thieves,extortion and even bribery and corruptions in our world today. We shouldn't forget that "Money is the root of all evils". So the unemployment can lead us to poverty and thus many different crimes may begin or come into being in our society and thus finally it may turn into a place of hell. So we need to be aware and take the precautions that may arise due to the rise of unemployment in the society.

But before we decide to be self-employed we too need to know and have some kind of knowledge regarding what and how to begin with. Firstly, we should think and choose something that we love to do and know about it. The more closely a proposed business matches the work we’re doing right now, the greater the chance of success. For instance, if we love gardening, think and choose to do something related to that or if we love writing, it will be better to choose something related to that. But we should ideally have some experience, or be willing to put in a lot of efforts learning at first. If we’re already good at something,and we love doing it, then we’re off to a great start.The next important thing is, we should figure out what we have to offer,and how it will be different from what’s already out there. How will we meet people’s needs in a new way? Who needs our service or product? How will we reach them?

What if a business interests us but we have no related experience or skills? In that case, it will be wise to begin the business as a sideline or work for someone else in the business as a part time employee, until we gain the needed understanding,experience, skill set and contacts.we can start and build our business as a side venture until we’re ready to go full time. Maybe we never go full time, but we’ll have it as a second income and as a place to do the things we never could on our full time job. Sometimes having a side business makes our full time job more tolerable because it gives us what our job can’t and, helps us to maintain and provide our family's necessities comfortably.

We should also understand that until we have a steady cashflow coming in, we don’t have to spend our precious start-up cash unless it’s absolutely necessary. Our business should put cash into our pocket, so before we invest money into it, we need to be clear on how we’re going to pull that cash back out again.And it’s also a mistake to be too stingy with our cash. We shouldn't let our frugality get in the way of efficiency. It's better to take advantage of skilled person who can do certain tasks more efficiently than we can and buy decent equipment when it’s clear that we’ll get our money’s worth and be more productive.

But sometimes we may face some kind of difficulties and confusions at the initial stage, and may even land up with alot of depression, don't know where to go or what to do when it comes to the edge of failure or fall in our work. But we need to remember that Failure is not the end of our business but it’s just the beginning. Failure is not a reason to get depressed and to quit. It’s a learning opportunity. We need to know that Failure is a stepping stone to our success.We should always be learning, always improving, not because we’re not satisfied with what we have done, but because if we stop learning, we’ll stop having fun. There should always be new challenges, new things to explore, new skills to learn, new ways to grow.It’s about loving what we do, about working hard to build something we’re proud of, about pouring our heart and soul into something rather than giving it to someone else. Make no mistake about it: We’ll work hard, or we won’t succeed.

When we are one of the employer in the private sector, we're on someone else’s payroll, we’re also beholden to them. Our employer can change our work assignments, our seating assignment, our title, our pay, or even eliminate our job. In any of these instances, we may have little or no say in the decision making process especially if we’re about to be fired.But being self-employed gives us a strong measure of control over all of that. And also I think self-employment is less stressful because we enjoy more control. When we have the freedom to say no, we can more easily control our stress. Self-employment can also be very low stress if we decide to make it so. We can even turn our office into a relaxing place to work if we really want to and can even set our own hours. If we notice the onset of stress, we can take time off to relax. No one can force us to do anything we don’t want to do.

When we retire from our job, we can't guarantee that we can or have stored or saved enough sufficient amount of money that can fed us or last for the rest of our life, in the worst case it is important to consider all this if there's no one to look after us.The best remedy to that problem is to have a business of our own, one we can work at for as long as we live, with no threat of being fired by our employer as is the case with jobs. If it’s our business, we won’t ever need to retire from it and it can provide for us for many years past traditional retirement age.If we need to make extra cash quickly, that’s very tough to do as an employee. We should understand that self-employment is not that much riskier than getting a job. Instead employees take the biggest risk of all. We learn how risky it will be when we unexpectedly hear the words, “we’re letting you go” or "You're fired"

Of course it's true that there’s no security on being self-employed but there's also no limits either in earning.When we’re self-employed, we can earn as much as our time, talent, and effort will allow. There is no limit as long as we continue to grow and expand our business and our abilities. May be self-employment can seem complicated because there’s a lot to learn in the beginning, such as accounting, taxes, payroll, legal issues, insurance, etc.  It does take a while to learn the basics, but most of it is not particularly difficult.  Just get ourselves a good book on the subject, and we’ll be off to a great start. We shouldn't let the initial learning curve get us down. We only need to learn this info once and only for our first business. If we start a second business later, we’ll be up and running much more quickly and easily.

Many self-employed people work longer hours than employees. Some enjoy their work so much they want to put in long hours. Some set up their businesses in such a way that their physical presence is necessary for income generation. Either way it’s a choice though because we’re the one who decides how to set things up.But there’s no law of self-employment that says we have to start a business that only generates income while we’re working. If we start a business like this, we’re really just creating a job for ourselves.

Therefore, the need of this hour is to create awareness about the importance of self-employment in the present society in view of the increasing unemployment in the country. This can be implemented by conducting Self-Employment Promotion Programs. The main objective of this programs are :
1. To create awareness among job seekers about the employment market situation and job opportunities.
2. To motivate the job seekers to take-up self-employment ventures.
3. To assist them in obtaining necessary inputs required for setting of self-employment ventures from different sources.
4. To maintain co-ordination with various agencies for promotion of Self-Employment.
5. To provide necessary follow-up assistance to the Self-Employment Youth for sustaining them in their market.

 Let us choose and do the right thing in the right way at the right time and live happily.