There are plenty of challenges that come with operating a self-company South Africa. For many people, the rewards of running a business far outweigh the difficulties.
This line of work isn’t just for the entrepreneurial spirit, either. Running a business can prove exciting for many people and many different reasons. Whether you are looking for a flexible lifestyle, are eager to innovate, or want more control over your work and earning potential, there are many benefits to running your self-company. Here are just a few of the biggest.
Independence and Control
Have you ever worked a job where you felt you could do better if you had control over how the work was done? Let’s face it; jobs can be constricting and sometimes don’t allow you to maximize your knowledge and skill.
When you build your self-company in South Africa, you do what you want, how you want, when you want. You develop the product or service to the level you think is best. You have systems and routines that work best for you. And if you need a power nap in the late morning or afternoon to boost creativity and productivity, you can take one.
Granted, statistics on business success can seem grim. After all, roughly 50% of businesses survive for five years. With that said, there is much you can do to improve your chances of success, and, depending on your goals, opening a business might be a better financial option than working for an employer.
For one, with a business, you’re more likely to earn what you’re worth, especially if you’re a woman. As the business owner, you can set prices and grow your salary with the business. When you throw in the business tax perks, you could make more than you would in a job.
Running a business can work well for many different lifestyles. For women, especially, owning their own business can give the lifestyle flexibility necessary to raise a family and still have a successful career.
Millennials and Generation Z workers look for flexibility in their workplaces, and running a business can work well for many. Likewise, people close to retirement or already retired may find owning their own business gives them the chance to keep their hands busy while not demanding the same rigid schedule of a typical job. People who want to travel or live a particular lifestyle can benefit from entrepreneurship, plus you might be able to work from home—or anywhere else you like.
Directly Helping People
Many small business owners launch their businesses to impact their local communities positively. This can happen through their products or services or the local causes they support. Small businesses also account for nearly half the private workforce, so launching your own business is a great way to provide jobs for many in the local community.
Owning your self-company brings some great benefits, and many entrepreneurs are satisfied with their decision after the plunge. Other benefits include flexibility, financial rewards, innovation, and a chance to impact your community.