Which is better, working for someone else or being your own boss?

More and more people are choosing to give up their jobs and follow their dream of setting up their own company.

Being your own boss has many obvious advantages. The main advantage is that you are in charge. You have the opportunity to do something you really believe in, such as offering a new product or providing a new service. Another advantage is that you do not have a boss watching over you, which gives you more freedom to do things your way. Finally, the greatest advantage of all for some people, you could also become extremely rich if your company becomes successful.

This all seems very tempting, but on the other hand, there are a number of disadvantages. You have to make a lot of big decisions, for example whether to expand, or whether to employ new staff. This is often very stressful. Although you are the boss and in theory can decide what time you finish work, you might find that instead of finishing early, you have to work all night because of an important deadline. Finally, there is an element of risk. If the company fails, you could lose not only your job, but also your home and your life savings.
To sum up, owing a business has both advantages and disadvantages. Whether it would suit you or not depends on your skills, your personality and your family circumstances.