A lot of Filipinos also are finding their way on owning and managing their own business which I think is good not only for them but also for our country. You might be asking the question which is better, employment of business? To some its employment, to some it's putting up your own business. I've observed some of the advantages and disadvantages of both and here they are:
EMPLOYMENT
Adavantages:
1. Security. If your a regular employee, you get paid monthly so you have a sure income monthly. You just report to work everyday and when pay day comes you get your fixed income. You don't have to worry about not having a pay.
2. Pension or Retirement Benefits. If you've worked for your company for quite some time you are assured of a retirement benefit.
3. You don't have to shell out any money. (Except for medical expenses before you get hired but companies shoulder this one.)
Disadvantages:
1. Time. If you are employed, aside form your skills your boss actually pays for your time. So much so that most of the time you don't own your 8 hours a day.
2. You can't get out of your comfort zone because of "security". Some people like to try to do other things like putting up a business but they are afraid to make a big leap because of the security the their job gives them. They tend to tell themselves, why should I risk on losing a business when I have a secured job and get paid regularly?
BUSINESS OWNERSHIP
Advantages:
1. You are your own boss. You don't have to take orders from other people anymore of higher rank because you are now the owner and manager of your business.
2. Room for growth. Because this is your business you can do anything about it. Design and run it the way you want.
3. Higher income. They say employed people don't get rich. But of course there are a few exceptions.
Disadvantages:
1. There are risks. And because you are now the owner you take responsibility of these risks.
2. Costly. Putting up a business is not easy, from all the incidental costs, advertising costs, operating costs and whatever cost that might be you have to be ready.
3. There's money you have to shell out because you'll need a starting capital.
My bet? I still go for the business onwnership, so that means my number of days being employed are numbered. Employment is great but for me it should be a temporary stage. But of course, that's just me. :)
Thanks for reading! xoxo
