Task 3

Would you rather be your own boss or to be employed? Discuss and access the available
options for you upon graduation.

Be your own boss synonymously known as self-employment. The definition of self-

employment is to be independent and responsible of you own business. It is where you are
your own boss and that you are everything: from the CEO to the financial department, to the
marketing and sales department. People that choose to be self-employed are usually having a
business that is of sole proprietorship, corporation, LLC, which is short for Limited Liability
Company, or partnership (Indeed Editorial Team, 2023). Below are some of the advantages of
being self-employed.

Fist of all, being your own boss basically, from the word itself, indicates that you are
in control of your business. You will have full control of all the aspects of your business
because being self-employed is to start from the beginning, from scratch. You would be able
to create the environment that you will be working on, able to set your own policies and
rules, able to set your own objectives and also visions, etc. Being in control of your own
business also means that you will have the flexibility to design your own working schedule,
which would lead to work-life balance. But of course, all these aren’t easily obtained. You
have to work constantly and persistently in order to bear these fruits as your business grow. In
short, when you are your own boss, the sky is your only limit.

Second, being your own boss would motivate you to put all your efforts into your
work because you are pursuing what you are passionate about. Most of the time, individuals
that work for others struggles to find the motivation to perform well in their workplace
because at the back of their mind, they know that ultimately, the company would reap the
reward of their hard work. However, when you are your own boss, simply doing your work is
your motivation because the business that you start is what you actually dream to achieve.
This way, you will come to understand that every effort that you put into your work is
working towards your dream. Not to mention, any ideas that you get from working would not
be turned down like how employers would turn down their employees’ idea about their work
because often times, when you do not share the same objective and vision as the employer,
your idea would end up being turn down. However, when you are your own boss, you are
able to attend to your ideas without any restrictions whatsoever. Without a doubt, being your
own boss motivates you to work more passionately as you work towards your dream.

Thirdly, being your own boss helps you to be financially free. Initiating your own
business offers numerous financial advantages compared to being employed and receiving a
fixed income. Initially, you're establishing a venture with the potential for expansion, and
your income increases in tandem with your company's growth. Furthermore, your business
becomes a valuable asset in its own right. As your business expands, its intrinsic value
appreciates over time. You might opt to sell it, or you could choose to retain ownership and
pass it down to your descendants. In either case, it possesses substantial value. Not to
mention, you can begin capitalizing on significant tax advantages by being self-employed.
Government initiatives actively promote small business entrepreneurship and aim to
recognize such efforts by providing attractive tax incentives. It's advisable to collaborate with
a financial advisor or accountant to ensure that you structure your business in a manner that
enables you to take full advantage of these government programs.

Lastly, being your own boss allows you to expand your horizon and scope of
knowledge. In the initial stages, self-employment often presents you with unfamiliar
processes. Managing customer acquisition, marketing, financial aspects, and other facets of
business operations can offer a comprehensive and immersive learning experience that will
benefit you throughout your profession. This process will not only make you an expert in
your industry but also equip you with diverse skills. As your business evolves, you will
continuously accumulate new knowledge and capabilities, gaining a deep understanding of
every intricacy of your operation. You will not be able to attain all these through any other
means because only comes from starting your own business. With the growth of your
business, you have the option to either continue handling tasks that you enjoy, or delegate the
responsibilities you find less appealing to the new recruits that you bring on board.

In essence, self-employment is a journey filled with opportunities for growth,

motivation, financial stability, and continuous learning. It empowers you to shape your
destiny, chase your dreams, and realize your full potential, all under the expansive sky of
opportunity.