Your Own Company As A Secondary Occupation
Starting a company can present a significant change in living situation and must therefore be carefully thought through. Do I really want to give up my secure job and do I have the resources to start my own business? What happens if my company is not successful? These are questions that every founder asks themself, and rightly so. After all, this decision is associated with high risk. To reduce such risk and other uncertainties, increasingly more entrepreneurs choose part-time self-employment.
Find out if this is the right path for you.
Pros Of Part-Time Self-Employment
If you are not yet sure about starting your own company, your current employment can serve as a safety net. Here are some of the benefits:
· Lower financial risk due to secured income
· Reduction of existential fears
· Protection through labour law such as wage payment in the event of loss of work, paid holidays, employment protection etc.
· Allows a settling-in phase to entrepreneurship, thus avoiding abrupt changes in living situation
Cons Of Part-Time Self-Employment
Nothing prevents you from starting a side business if your employer and your workload allows you to, as long as it does not interfere with non-competition clauses and job performance. Legally, you are
free to choose any number of jobs. Nevertheless, you will face some disadvantages:
· You may find yourself overwhelmed or overworked which can have negative effects on your work and the development of your company.
· Complications in employment relationship, as any reduction in workload could lead to restructuring
· Market entry and setting up your business may take longer as you have less time on your hands
Starting a small business can be practical as well as exhausting. Therefore, it is important to consider the pros and cons, what you are prepared to do and what goals you want to achieve.
