Self-employment is not an easy option, but the rewards can be substantial – both financially and in terms of self-esteem.

Self-employment requires :

• total commitment;
• willingness to work for long hours;
• physical and mental strength; and
• help from your family.

Besides these skills and support you also need to have :

• identified a market opportunity;
• practical skills to do the job
• some business skills to enable you to run a business.

Benefits of being self-employed :

• You are the boss.
• You can work whatever hours you wish.
• You can go on holiday whenever you want.
• You will learn more about business in your first year than you have ever learned before.
• You will deal with different people and situations.

Downside of being self-employed :

• If you are not working, you are not earning.
• Taking holidays will directly impact your sales and turnover and ultimately your profit.
• You will make mistakes, but you need to learn from them.

SOURCES :
Cronje & Cronje
Business Partners