Which is the Best Option, a One-man Company or a Group Enterprise?

Articles, Concept, Guide, Tips | on Sep. 23, 2011 | by 0 Comments

Most professionals decide to become freelancers as they no longer want to have to depend on someone and be under a boss, who dictates what they should or should not do. Not to mention malicious behavior that can often be found in certain office environments.

However, one of the strongest points is that if you are a talented web designer, you are simply wasting your time with a company and giving them all the benefit of your talent, so why do so? There are various pros and cons when you decide to work as an independent professional, and you should be aware of these before you take the plunge.

Of course when you are planning on how your new business may be like, all you really see are the positive aspects, such as hiring the people you want and being the one who does all the deciding. However, you need to consider two fundamental aspects before you do open up your own business, which finding out it the time is right and if you are planning it right.

Before becoming your own manager and that of other members of your dream company consider whether you will be able to grow effectively as a company. There are of course, many other issues to consider if you do not want to fail. So, make sure you look into detail at all the advantages and disadvantages of opening your own company.

Which Benefits can your Reap from your own Business Venture and should you work alone or hire staff?

If you have your own company all the benefits come to you, and the hard work you have invested in will be well worth it. You can choose the projects you want to work on and take larger ones when you have more personnel to help. If you are a lone freelancer you are limited to the amount of work you can do, and you probably will not be able to take on larger projects, or find that clients will not even bother asking you. This is one issue you should consider, for if you do want to work for clients that offer big projects, you will have to hire someone to help you out and will need to expand your team.

With a group of web designers you can expand in different branches of the industry and hire professionals that can deal with different issues as far as web development is concerned, or others who can offer a different type of expertise that you do not have yourself.

If you open your private business you will obviously make profit only when you work, and the more you work the more profit you will be making. There is no doubt that with a private venture you will be earning more than your monthly check you had with your previous company, however consider the expenses.

Therefore although having your own business to expand can bring in considerable profit, more so if you manage the projects and finances properly, it can also bring along problems. A few you should consider are the added expenses, including investment on the company, rent and salaries. Money you will be spending on the hardware and software and finally the taxes. So, consider all these points when deciding to launch in your own professional enterprise.

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