Self-employment – method for increasing your earnings

Self-employment – method for increasing your earnings

What is self-employment? Are we are able to increase our income thanks to it? The further part of this article contains answers to these and other questions.

Every year increasing number of people resign from the traditional employment contract for self-employment. As a result, they are able not only to gain a sense of independence and self-determination, but also significantly increase their earnings. This results from the possibility to implement many lucrative orders from various sources. 

Self-employment – what it consists of?

If your job consists of the provision of specific services (e.g. you are a copywriter or electronic equipment service technician), at some point you will have to choose what form of work suits you best. Full-time job or establishing your own business activity? Although the employment contract seems to be a safe solution, it turns out that the form of self-employment may significantly increase your income on a yearly basis. Why is this happening? Firstly, the form of self-employment changes your status in relation to your employer. From that moment you are no longer an employee, but a business partner, which means that you have the right to dictate your own terms and determine the amount of remuneration for completing a given order. Moreover, self-employment in contrast to the employment contract doesn’t bind you permanently to one company and allows you to implement orders for several other entrepreneurs, which may significantly affect the increase in your income.

Self-employment – how to gain from it?

Below you can find 5 greatest advantages associated with the form of self-employment.

Firstly: You gain the possibility of deducting transport costs. If your job requires travelling to the headquarters of one or several companies, then you can agree with the ordering party to refund you the cost of travel. However, you need to remember that this matter must be negotiated in the process of determining the first terms of the contract and remuneration. 

Secondly: You have the ability to perform your duties wherever you want and when you want. Thanks to the self-employment, you can set the hours of your work and set the deadline for the order implementation.

Thirdly: You have the option of settling the costs of electronics and equipment that is necessary for the functioning of your business activity. Thanks to this, you will get a chance to reduce the amount of income tax.

Fourthly: You gain the possibility to develop both your practical skills, as well as contacts with the network of possible ordering parties. You decide whether and what trainings you need and you can use the state programs that provide partial funding of such trainings.

Fifthly: You set the rate that you receive for implementing a given order by yourself. If you think that your skills and experience are significantly higher than those you had at the beginning of your career, then you can freely increase your rate during negotiations with the potential ordering party. 

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