More often than not, the internet is flooded with information on reasons why every one should be entrepreneurs. While I do not doubt that it is necessary that more people embrace self employment, it is also necessary for people to have an open mind towards employment and look at the pros and cons of both before delving to start the next Microsoft. The following are reasons why there should be more people in employment than there are now.1 LESS RISK
Granted, it is a a fact that there are risks to being in paid employment, however, you are more likely to retain your job than a business start-up is to thrive in the market.. Statistically speaking, 90 percent of start ups are bound to close in the first five years of existence. In fact, by its very definition, an entrepreneur is one who is willing to take risks.
TIP, think of this-its almost always news when a company lays off a number of workers but it gets no mention when the same number of business start-ups or SMEs close down.
2 DEFINED WORK HOURS
It is an obvious advantage for many employees that their work hour is defined. Usually, right from your employment you are told when you will be needed to work, and often times, you get paid for any extra time spent. For an entrepreneur however, work hours are usually not defined as they have to work around the clock to ensure that the business goes smoothly.
3 DEFINED CAREER PATH
Also, being in paid employment in most cases offers you an opportunity to rise to the top of the ladder. It is expected that if you spend a certain amount of time, or put in extra effort on a job, you ought to get promoted as often as possible till you get to the pinnacle of your career. For a business owner, the career path is not defined, as your rise to the top is solely dependent on how well your business does. If it crashes, you burn with it.
4 DEFINED PAY
Related to the above point is the fact that with your rise to the top of the corporate ladder, your pay is defined as you go along. In most corporate environments, there is a fixed salary scale which serves as a guide for payment. This is an advantage because it can help the employee plan and make adequate budget for the month under review. An entrepreneur in most cases does not have this advantage because his take home pay is dependent on the amount of effort put in to the business. Fluctuations in monthly income is usually the case.
5 SOMEONE HAS TO DO IT
This point is pretty much self explanatory. Imagine if everyone of us owned a business, who then would be the workers to carry out the running of said business? That being said, who then should be an entrepreneur and who should be a worker? We examine that in the next point.
6 NOT EVERYONE CAN START A BUSINESS
An entrepreneur is someone who has developed the strength of character and resolve of will to be a leader and a go getter in the business world. Not every one possesses the innate ability to own a business. Several people have tried to set up shop and failed at it, perhaps that explains why there are so many businesses that end up comatose.
7 SPECIAL EMPLOYEE BENEFITS
Most companies have special packages to see to their employees welfare. Such packages include leaves, paid vacations, as well as healthcare and child support. While it is not a hard and fast rule for all companies, there are many of such advantages in paid employment. For most start ups actually, such fringe benefits are not applicable. It is not only the case with start ups however, but even established business owners usually do not bother to claim such special benefits for themselves as most have to see to the running of their business enterprises daily.
8 NARROWER RANGE OF SKILLS NEEDED
As an employee, you are usually employed to fill a particular need. For example, you may be employed in accounts, IT, or admin. Hence, your specialization is only needed in your field. For a business owner however, and especially with start ups, they have to be proficient in a whole range of skills and abilities as they usually are solely responsible for running and ensuring the success of their business.
9 OPPORTUNITY TO DIVERSIFY
As an employee in an organization, you can decide to pursue other job opportunities if you are not satisfied with your lot in a company. You can even decide to augment your income with other sources such as a business by the side of your main employment. An entrepreneur however must better his lot within the confines of his occupation.
10 OPPORTUNITY FOR LEARNING
Last but not the least is that you have the opportunity to learn more about how organizations are run, as well as other aspects of the job that will come in handy if you do decide to start your own business later.
So there you have it. While we do not mean to discourage people from starting up their businesses, it is ideal that you properly weigh the advantages and disadvantages before you delve into it. What do you think? You can have your say in