Being employed :What are the advantages and disadvantages
Being self employed, what are the advantage and disadvantages
Profits & losses.
5 Total Votes
So apparently, Corona has taught me 2 or 3 things about being jobless because all companies have closed.Bills piling up waiting to be paid. I am thinking of starting a business like a fast food..I have an idea cause I work in hotel industry. But again starting your own business here in Kenya is a milestone. The business licence is way too expensive for no reason. So again, I ask for ideas,opinions. Share what can help me.Online jobs are just scam,get rich quick schemes are all over.
Done both. Most businesses fail within five years. It takes lots to start one. If you can't open the doors with full inventory or offerings, dont bother. People try, find lacking and dont come back. You need cash to float for two years at least. And try and find a niche no one else has. Not easy with the competition these days. Work for someone else, punch out at quitting time, go home and forget about it til tomorrow. Own business and work 16 hour days, weekends and holidays. When employee calls in, guess who covers. Costs too..rent,inventory, wages, taxes, accountant, workmans comp in the US. I stuck to employee. I saw the books my boss showed me. He said if it wasnt for depreciation, would have sunk. Only way when out was more than in. We went through a bad spell. He borrowed from aunt and mother, went without pay except what he had to take for living. Sleep in his office a few times cause couldn't afford rent. Made sure workers got their pay first. Begged phone company to not cut us off, same for power. He owned the land and building so when pump went, he paid to fix, plus any other issues. At the end of the day, I went home. He stayed. It is a dream to make it rich. Few do. All they get are divorces and ulcers and kids who wonder who they are. You can always find another job, but hard to do when ran one.
Report threads that break rules, are offensive, or contain fighting. Staff may not be aware of the forum abuse, and cannot do anything about it unless you tell us about it. click to report forum abuse »