Are you thinking about taking the leap into entrepreneurship and self-employment?
With the right supports in place, self-employment is a highly viable option for newcomers to Canada. Instead of spending 40-plus hours of your week contributing to someone else’s company, you could be using that time to create your own business—allowing you to set your own schedule and make your own decisions, while still generating an income.
If entrepreneurship sounds tempting to you, here are our top five reasons to consider giving self-employment a try.
- You Have Control Over Your Own Destiny
When you’re working as an employee at someone else’s company, they decide your duties and your compensation and they can also decide to terminate your role if they no longer think you’re the right fit for their company. As an entrepreneur, you get to make your own decisions, meaning that you can work on something you’re passionate about while also being in control of your own income.
- You Have the Freedom to Spend Your Time on What’s Important to You
As an employee, you’re usually required to work during set assigned hours. As an entrepreneur, you’re able to balance your life in a way that’s optimal to you. If your child has a school concert on a Wednesday afternoon or a friend needs help moving on a Friday, you can decide to shift your work accordingly. This kind of flexibility is not always possible when you’re working for someone else’s company. When you’re working as an entrepreneur, you can prioritize your time to better accommodate both your professional life and your personal life.
- You Have Unlimited Earning Possibilities
When you’re working as an employee, your salary is set by your employer. No matter how long you stay at that one job, your earning potential most likely has a set cap which you cannot exceed. As an entrepreneur, you’re in control of your own earnings and those who jump into entrepreneurship are generally well-motivated to build a profitable business.
- You Can Work Wherever You Want and Have Customers From Around the World
Entrepreneurship can allow you to break many geographic barriers. If you create an online business that’s not location-specific, you could have an unlimited customer base—plus, you can have the freedom to work from anywhere that has an internet connection.
- You Have the Chance to Leave a Lasting Legacy
As an entrepreneur, you have the opportunity to build a business that can carry on in your family for generations, providing a positive impact for years to come. Your business may start off as a quest for freedom and the ability to do what you love, but it may end up being very profitable, and can benefit your kids, your grandkids, and future generations.
The ACCES Employment Entrepreneurship Connections program is designed for newcomers who plan to start a business in Canada. If you have owned or operated a business outside Canada, this innovative and informative program could help you use that experience in the Canadian market.