7 Myths Around Self-employment

I’ve been self-employed since June 2008, which sometimes feels like a lifetime ago and sometimes last week! I’ve learnt a lot about myself, met some amazing freelancers, small business owners, written a book and won a few awards.  Although, it is estimated that 4.8 million people in the UK are self-employed* which accounts for around 15% of the working population, there are still so many myths around self-employment and working from home.

*Stats from Gov.UK October 2018

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7 Myths Around Self-employment

  1. Long Hours: HALF RIGHT. This is a hard one as sometimes I do work longer hours to meet deadlines and get things done, but I also take 6 weeks off for the Summer Holidays so for me, it swings in roundabouts.  Most individuals are looking for flexibility and that’s the beauty of self-employment you can be as flexible as you need/want.
  2. Buy A House: MYTH! Of course, you can! Unlike employed individuals, you may need to have 3/4 years worth of accounts in which to prove your income and financial stability. An Online Mortgage Broker is a great option for the self-employed handling your application from start to finish. Mortgage brokers take all the hard work out of mortgage hunting for you, they will be able to advise you on Help to Buy mortgages and other Government mortgage schemes; including shared ownership.tenancy agreements
  3. PJ’s = Uniform: MYTH! I don’t know anyone who works in their PJ’s. Firstly, you are far more productive if you actually get up and dressed to go to work, than sitting about in bed with your laptop. Secondly, my school has a no PJs at the school gate policy 😉 I work from home I’m not an animal!
  4. You Have To Do Everything Yourself: HALF RIGHT. I choose to complete a large amount of tasks myself but there are hundreds of freelancers out there you can outsource too. Accounts, admin, social media you don’t have to do everything, decide which jobs need your 100% attention and delegate/outsource those that don’t or that you don’t enjoy to other freelancers. Just because you are self-employed doesn’t mean you can’t develop a team around you.
  5. It’s Lonely: MYTH! I have a superb network of small business friends, who I regularly meet face to face, at least once a week and I usually chat with a few online during my working day. There are plenty of co-working spaces where you can work with other people, local networking groups, online networking and the local coffee shop if you fancy a change of scenery. I never feel lonely. networking
  6. You Watch TV All Day: MYTH! Seriously if I spent all day watching TV and eating, I’d be broke and the size of a house! I sometimes wish I had the time to do nothing all day! You do have to motivated to work from home and not be distracted by housework and your surroundings but I also think when you have limited time by yourself you work far better than if you had all day.
  7. It’s a Hobby: MYTH!  Working from home doesn’t mean it’s a hobby. Business needs to start somewhere and some multinational corporations began life at someone’s kitchen table. It might surprise you to know that Amazon, Microsoft and Disney all started as home-based businesses, remember that next time you suggest working from home is a hobby.

Mythbusted! There you have it 7 myths around self-employed demystified! Do you work from home and have any other myths to add?

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