Imagine a world without a boss? Where you were your own boss. No need for micromanagement or office politics and the ability to work on your own hours judgement free. Say goodbye to your daily commute and hello to your favourite cafe. Welcome to the wonderful world of self-employment.
The good news is, this is just the tip of the iceberg. There are plenty more obvious perks of the entrepreneurship, but here are our five favourite reasons running your own business beats working for a big company:
Entrepreneurs are Happier
Self-employed individuals are in charge and capable of defining what they’re work is and will often work in accordance with their strengths and interests. According to a study by the United Nations University, individuals who gave up regular employment to work for themselves experienced a significant increase in life happiness. You see? Following your business dream is going to make you happier!
The chance to experiment
Experimentation and innovation is imperative for small businesses looking to crack the market and bring consumers something new and that actually meets their needs. Being self-employed offers you the chance to shake things up. Enjoy the freedom to go in your own direction whenever you please. No inflexible management, financial woes or red tape here.
Small businesses are more resilient than ever
Entrepreneurship has experienced a real resurgence in recent times. More startups are being founded than ever before, with small businesses making up 90 per cent of total Kiwi employment. The internet has allowed for reduced operating costs and assisted small business to reach out to previously un-tappable markets.
At a time when many countries are struggling with economic uncertainty, small businesses have become a viable source for employment and an attractive alternative to corporate life.
Small business funding is gaining momentum
Getting access to finance has never been easier for Kiwi entrepreneurs. Funding for small business is more abundant than ever and with startups and innovation at the forefront of the New Zealand government policy right now.
History states that many small businesses struggle due to lack of financing or shortfallings in investment. But today, crowdfunding, alternative finance, angel investors and small business loans are easily accessible with a few clicks. The biggest challenge a business now faces is which funding option is the most suitable to their needs. This leaves more time to focus on your ideas and refining your strategy with your new funds.
We idolise entrepreneurs
The social prestige ascribed to entrepreneurs right now is substantial. Steve Jobs, Richard Branson and Jeff Bezos are pioneers and idols for a whole generation. By comparison, corporate life has become much less attractive.
According to a study by PWC and the London Business School, millennials long for greater flexibility, control and purpose at work. More and more people are seeking career satisfaction by initiating change instead of tolerating a mind-numbing day job.
So get out there and follow your dreams!
Until next time,
The Spotcap team.
Originally published August 10 2017 , updated August 10 2017