Owning a business versus being an employee: which is better?

[Uptowngirl88]

You gotta have money to make money so I've heard. When it comes to having your own business it is risky yet you can gain a good profit if its managed will and have an abundance of clientele.

Being an employee is less risky yet your boss is the the millionaire or billionaire who's making money off you. No loss unless you get fired or unemployed yet you can look for another job so you're not losing much really.

Being an employee

Being a business owner

Other

[Jjpayne]

I'd say with employee there is Little responsibly, no loss... But no gain either... While being a business owner there is much more responsibility with the greater possiblity of loss as all businesses go through a phase of are we going to make it, or lose it. Most businesses don't make it unfortunately... Maybe you can plan for that as an investment and maybe try online first before investing in a property. But the reward for a successful business is much greater including fun interactions with customers.

So an employee, low risk, low reward.
A business, high risk, high reward

[exitseven]

Being a business owner in this political climate will be hard. Employees are all eligible now to collect unemployment and other giveaways. If you own a small business the government locks you down and than you cannot qualify for unemployment. To make it worse is that you still have to pay taxes. I drove through the downtown district of my town the other days and could not believe how many empty storefronts there are. It looks like a ghost town.

[exitseven]

Thanks for the MHO 😎😎😎

[weysally]

my husband runs a carpentry business, its hard work and works long hours, sometimes he works away for a few weeks, he goes where the work is, but the rewards are really good at the end, and I he[p with orders and book work
I think an employee, not all but a few, just likes to work for the money, and are content with that,
so really its down to what you are content with,

[menina]

I would say it's being a business owner. You can make your own schedule, you don't depend on anyone, you can make all the decisions and you don't have anyone yelling at you or complaining all the time.
I can't wait to be a business owner, but in order to do that I must go back to my country.

[Uptowngirl88]

I was thinking the same until I realized owners do depend on someone and that someone are consistent customers and their workers.

[Uptowngirl88]

How exciting what type of business

[Uptowngirl88]

I was thinking of a business too. I'm still debating. I read up on Steve Jobs, bezzo, and elon musk how much they had to do to get where they are. If I do own something it will be something simple like a laundromat or apartment complex. People will always need a place to live and fresh laundry

[menina]

Yes, they do but they don't have their bosses yelling and cursing at them. They don't have to obey to anyone's rules.

[menina]

I thought about a bakery or a restaurant.

[menina]

Those are good businesses. I agree with you, people are always in need of those things.

[DizzyDesii]

I prefer to be an employee where im guaranteed paid. Everytime i think i want to do my own biz, i change my mind. Its just a lot. I've always enjoyed business simulator games where i run boutiques and hotels and all... but its just a lot

[Uptowngirl88]

That's the way I see it too. And when I'm off I prefer to be off. I feel like business owners work 24/7 to maintain and oversee their business

[DizzyDesii]

Yea cause you can't really trust leaving your company in someone elses hands. But my main thing is other companies trying to sue them for a trademark or something. I dont got time for that

[Uptowngirl88]

Neither do I.. way too much work

[NathanDavis]

As I have been both, I can really say that they are very different challenges on their own, so it all goes down to you... what kind of person you are and also your actual needs... and never forget the circumstances, which most of the times will define what you have to do, or can, can't do.

[DaveToo]

I've done both. The pros to having your own business comes down to you making your own decisions about which way you take your enterprise. You profit when it's successful. The downside is, you are vulnerable to the winds of change. Pandemic-wise, theft from patrons and/or employees.

As an employee, all you need to be concerned with is doing your job to the best of your ability and hopefully, you'll be compensated well enough. The downside is much the same as owning, however. Your boss/owner is subject to the very same winds of change and that means so are you.

[najekim]

Owning your own business is the most work you'll do until, or unless, you get to point of hiring for different positions to help run the business. Had my own business for 12 years and it was all me running all of it which included finding clientele, doing the quarterly taxes, attending to government paperwork, and then doing the actual work.

I now have a boss, but I have enough experience that he just gives me the task and then leaves me alone to complete it.

Both have their pro's and both have their con's. It all come down to how much do you want to put up with?

[midnightmoon05]

They all have their pros and cons. The only way I was able to do it is have both. One to fall back on.
I have a boss and I am also my own boss so to speak.
there are a lot of business opportunities out there. Making the right choice at the right time and having the brain, money... should be okay...
lots of scrafices.
good luck with your passion.

[888theGreat]

Before the US became a Socialist state , being the boss was best. Now since gov't forces you to pay what they say, environmental shit, and all the things you must cover plus taxes, and artificial high gas prices , it is now better to be a worker, because the gov't will see that they make more than owner of the business does. Those that still have a business after gov't shut it down over a super cold.

[OddBeMe]

Depends on personality. Being a salesmen or Wall Street broker would net you more money that starting a business. But I’d hate either. Been there. So I started a business and been happy ever since.

[Redstang88]

I can make $200k a year as an employee in this line of work, that’s good enough for me

[serious]

Being an employee is better.

[KrakenAttackin]

This depends on your goals.

[Joshua0213]

Business owner definitely, much more money