Salary earner vs business owner; which do you prefer?

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3 years ago

Good day everyone.

Today is another wonderful day in September. Hahaha. The third day of the week and also three more days to go out of September and saying welcome to October.Lastly, three months out of the year 2021 😊 😃

Many things to be done. I would still have my house chore done no matter how lazy my cycle is these days. I would have to cook for myself, wash the dishes and wash my clothes too. So no matter how free I still get myself engaged in some of these activities once a while.

I was just sitting right in front of our building then I thought about my life and how I would live it. Our convocation ceremony will come up this month. Then I would be out there in search of a means of earning and living. Then I had to think again and ask myself DO YOU WANT TO BE A SALARY EARNER OR A BUSINESS OWNER?

Which would make me discuss my little knowledge on the topic.

Business owner vs salary earner

We can own a business in many ways, either by starting up a new business of our own or buying an existing business. Starting a new business on your own is one way to become a company owner. It would always come with its benefits like getting complete control over the company and creating rules and regulations to be abided, they can also introduce new plans, products and services for the growth of the company.

Buying an existing business also comes with its advantages because it would require less time and also reduce the cost of starting up a new business giving advantage to an already established set of workers and clients.

Types of business

  • Sole proprietorship

  • Partnership

Sole proprietorship is a business owned and controlled by a single person and is the most common among business owners. A sole proprietor own all business assets and profits and they are also responsible for all business debt and liabilities

There are several advantages of forming as sole proprietorship business

  • It is always easy to form and establish

  • There is no need setting up a payroll to pay yourself making you have the sole right on your capital

  • There is no need forLegal formalities

  • Commencement and closure is at his own will

As we have the advantages so does it come with its disadvantages.

  • Increased tax rates

  • The capacity to raise business capital is limited

  • Retaining employees might be difficult

Partnership business

A partnership business is an arrangement or relationship between two or more people to do trade or business and share the profits and loss.

Some of its advantages are

  • Combined skills and balance judgements

  • Sharing of risk together

  • Flexibility

  • It increases one's expertise and resources.


Salary

Salary is the money that someone gets paid for the job done as an employee at the end of each month by their employer. And is comes as a fixed payment at the end of each month

Salary vs business owner; which do you prefer?

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Many times I do sit back and think about what aspect I should dive in for. Should I be a salary earner or a business owner?

The question would always pop several times. One thing I am sure of is the fact that each of these categories come with their challenges. To become a business owner you would have to start up with some amount at hand known as capital. And to maintain such a business breeding it from small scale to large scale and also maintaining it would be something much more priority.

If I am to be a salary earner it would have been much better because I don’t have to stress myself out thinking of any capital to start a business or even the cost of maintenance and all sorts. But to become a salary earner one has to become more dependent on the salary and would have to wait for its arrival at the end of the month. It’s quite okay to wait till the end of the month and then get something in your pocket.

To those who are singles and yet to have a family of their own it would have been much better for them to maintain. But with the inclusion of families, they keep growing day by day. Thereby the amount earned as salary never increased. What do you think of such a family? Probably it would have become so hard on them to have survived on such an amount. The beginning of the month would come in luxury but when it gets to the mid month then things get harder than expected.

Apart from the fact that they would have to rely on their monthly payment for survival, which is making it hard to see some people after getting retired or sacked from their place of work it looks like life has ended for them because all they have relied upon would come no more. So it might be much more difficult than expected. They are not free to move wherever they want whenever they wish to. A permission leave must be sought or permission to be absent from work for a few days. In absence of these then I would rather say they would have to bear the consequences of not doing so.

Compared to business owners who have the freedom to do whatever they like at any time. One thing I would always love about business owners is the fact that they can surely leave such a business to be inherited by their children creating a better future ahead for such children.

Salary earners could also be a business owner if the amount earned is enough to satisfy their needs before they could opt for their wants.

Salary earner or business owner? What are you?

IT IS NOT GOODBYE BUT SEE YOU AGAIN 👋👋👋

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3 years ago

Comments

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$ 0.00
2 weeks ago

Business owner definitely But not everyone has that business mindset or risk to own a business. But basically some people tend to be salary earner to gain experience before becoming a business owner

$ 0.00
3 years ago

Im a salary earner here that's why i know being a salary earner is not enough, so i think i will choose being a business owner.

Most of the wealthy people are those who owns business. No one became rich just by getting employed, but we have no choice but to keep on working, it's also a waste if im going to let go of my job.

What i did, i just did, i just find other means to find extra that's why im here. Im praying to god that he will blessed me in this journey. That he will give me patience and perseverance for me to endure here.

$ 0.03
3 years ago

There are lot of people I know and have read about from their article that quit a job and have been making great testimonies here. The like of @tiredmomma and some others too

You can do great just keep up with consistency and don’t break rules.

Yeah salary is both really worth it. But what if we have no choice than to keep doing it.

$ 0.00
3 years ago

I will surely prefer to be a business owner than a salary earner because of its advantages and moreover, I don't want to undergo the insult, disgrace, and some petty money that will be paid at the end of the month and won't be enough. I prefer to earn my money myself and spend the one I wish but before one will be able to stand, one must be under someone so I will still be a salary owner before becoming a business owner.

$ 0.00
3 years ago

No matter how it might be, from onset, I never want to become a salary earner, and I will never be. A situation where by I will only be depending on my salary alone.

A salary earner is more like a slave, you'll have , as a salary earner, you'll have to dedicate all your time to your boss, even when you have important thing to do, your job will always hold you back , because if you don't do it, there might be a penalty for it... I despise anything salary...lol

A business owner is much better, no matter how hard you work , the profit will always be yours, though might not be easy to start, but it's fruit is sweet...

$ 0.02
3 years ago

That’s the issue. The start up is what most are having issues with. But having a mindset not to be a salary earner is quite okaay.

In worst case. Then one would have to be a salary earner for a while then establish his/herself

$ 0.00
3 years ago

The truth vis that , I don't want to work under somebody, I need this thing called freedom 🤣🤣

$ 0.00
3 years ago

Lol we all need it oooo. Not only you

Image if there is freedom for me to fly to where you are right now 😂

$ 0.00
3 years ago

Fly and come , don't worry I will welcome you warmly

$ 0.00
3 years ago

How would I do that ooo?

Where do I know you are? Make i go fly and meet myself in sambisa abi??

$ 0.00
3 years ago

🤣🤣🤣, it's a magic , you'll be here direct

$ 0.00
3 years ago

Hummn. Only if I believe in magic. When I am not Merlin or legend of the seeker 😂

$ 0.00
3 years ago

One can start as a salary earner before moving on to a business owner. Because it takes alot to be a business owner. He no easy at all

$ 0.02
3 years ago

Sincerely. It’s everyone’s wish to be one. But it not so easy to come by.

$ 0.00
3 years ago

Realmente prefiero ser dueño de negocio, he tenido la oportunidad de ser asalariado y dueño de negocios y me quedo con la segunda opción. Como dueño de negocio he tenido más oportunidad de desarrollar mis propias ideas y ayudar a otro .

$ 0.03
3 years ago

gran idea. y una sabia decisión.

Estoy seguro de que a todos les encantaría ser propietario de un negocio. debido a la flexibilidad de thd. bcuando hay poca o ninguna cantidad para iniciar. entonces se convierte en una tarea difícil de realizar.

$ 0.00
3 years ago

Many times, I do have the mindset of owning my own business and not depending on working to earn a salary but I gave it a thought again that I would work for a limited time to gather the money I got as my salary, then quit and I would have gotten my capital to establish my own business.

$ 0.03
3 years ago

Wise decision friend. Because Lon sharks are not willing to lend to business starters they prefer loaning the already business owners

God help us. Especially this kind of a country we find ourselves.

$ 0.00
3 years ago

Having experienced both, I definitely opt for business although starting one is challenging. Being salaried is good for some time, but one wouldn't want to be employed for life :)

$ 0.03
3 years ago

That’s the fact about it ma’am. Just if the government could provide loan opportunity for citizens then it would have been better to opt for a business from the start.

$ 0.00
3 years ago

We cannot always expect from the government I think. If we do, we will be waiting forever hehe

$ 0.00
3 years ago

Right now I am a salary earner but best be sure in no distance future I would be a big business owner . So that I can’t live on a yatch in Dubai 😹

$ 0.03
3 years ago

Hahaha. Maybe through some savings. But wait oo When you get to Dubai remember to call my number so I can come pay you a visit

$ 0.00
3 years ago

Sure thing bro 😂😂

$ 0.00
3 years ago

😂. Nice meeting you

Dubai connect 🤝

$ 0.00
3 years ago

I prefer to be a business owner.. Because I'll have freedom of time and more opportunities to grow and learn more things.. Unlike the salary earner.. Your life will only circulate in your work area..

$ 0.03
3 years ago

That’s right. I think we are getting to have similar mindset 😂

Why should we rely on salary. I can rely on salary only if they give me a pay of $1000 per month. 😂 😂

$ 0.00
3 years ago

I always prefer to be a business owner than being an employee. Being an employee has no 100% assurance that your employer will keep you forever. They can kick you out anytime depending on the income of their company/business.

$ 0.03
3 years ago

Yeah great idea. I have always think of become a business owner too.

But don’t you think one would have to work as an employee before making that huge capital to start up a business?

$ 0.00
3 years ago

Nope, I don't think so. Nowadays, there are many lending companies that allows aspiring business owners to loan their capital. I believe banks has similar sort of program too. It depends on you if you'll take the risk, or so.

$ 0.00
3 years ago

I agree to that.

But most of these lending companies aren’t ready to loan business starters. They prefer to loan experienced plans ongoing business owners to avoid taking much risks compared to that of newly established business owners.

$ 0.00
3 years ago

That's awful then..

$ 0.00
3 years ago