Thinking of Leaving Teaching?
Self employed

Going Self-Employed – Advantages & Disadvantages

Advantages

There are several advantages to being self-employed:

  • Job satisfaction.
  • You are your own boss.
  • You are more in control of your future.
  • You may have a higher earning potential.
  • The excitement of taking responsibility for the success of your business.
  • Working from home means no long commuting or office politics to worry about.

Disadvantages

There are several disadvantages to being self-employed:

  • Lack of job security.
  • Unpredictable income.
  • Very long hours when you are starting up.
  • Lost earnings if you are sick or take a holiday.
  • If you work alone, you can feel lonely and isolated.
  • If you work from home, your work can encroach on your home life.

Other concerns

A common concern from teachers who are thinking of leaving teachers is the potential drop in income. I often hear, “I can’t afford to leave teaching”. The first thing you need to do is write down exactly how much you need to pay mortgage/rent and all bills. The reality is that there are many things that people spend their money on that are non-essential. For example, I know people who buy a £3 coffee every morning before work. That’s £15 per week, £60 per month, and over £650 per year… just on a morning coffee! There are plenty of ways that people can save money.