subject: Its Better For Americans To Be Self-employed For The First Time Since The Industrial Revolution [print this page] Yes, it is risky to be self-employed. Yes, it is risky to be self-employed.
But working for big companies, the whole concept of working for a large corporation is very risky, too.
100 years ago many people were farming to make a living. They were entrepreneurs. Some were more successful than others.
After WW II it was a good secure career path for a family man (usually) to get out of school, find a good job with a big company and work until he retired.
The chances were that an employee would have a nice income and a secure retirement.
But today companies dont want to pay retirement to anyone. And even if an employee manages to hang onto a job until retirement they may find little retirement left. Retirement plans are different now. Instead of saving up in a retirement plan the companies have invested the money, workers money in the stock market or other questionable investments.
Its a change, a trend that has made the world of work and what can be classified as a good job different than it used to be in the good old days.
Things change. And all of us have to change to survive.
Self-employment is looking less risky to many people.
Lots of laid off workers are taking their 401-Ks and investing the money in buying businesses or franchises, literally buying a job.
Some are building some type of business from scratch. They often do it with very little money, too.
For many people its their only alternative. They cant get another job no matter how hard they try.
Fifteen years ago a worker over 50 years old would be somewhat unlikely to ever find a new job.
But that age limit has dropped closer to 40 these days.
Who can afford to be retired at 40? No one can. Some people wait until their late 30s to early 40s to marry and start a family. Being laid off is the last thing they need.
All of a sudden being self-employed starts to look pretty good. It has a lot of pluses for many people who dont want to be retired or live on welfare.
1.You have something that keeps you involved in life and challenged to grow and improve.
2.Having a business investment that produces direct income is far superior to other types of investments like houses.
3.You have more control over your own time. Most entrepreneurs work all the time, but at least its their decision.
4.You can work from home or live over the store.
5.You have an income-producing asset you can leave to the people who are important to you.
6.You can employ family part time and friends if you wish and they are interested.
7.Kids who work for family businesses learn early about the realities of business and economics.
8.You can sell your business when you are ready to retire to employees and/or relatives.
9.You have something you can sell to an interested stranger who might need to buy a job.
Adapting to changing conditions is a necessary survival skill all workers have to learn. Maybe you dont think you have the temperament to be an entrepreneur. But the big question you have to ask yourself is do you have a choice? Many people dont.
