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Self-employment can be "a life of misery"

Contributor:
Fuseworks Media
Fuseworks Media

Wellington, July 15 NZPA - Thousands of people who give up their jobs to work for themselves end up living a life of misery, says a business adviser who will be a keynote speaker at the Young Executive of the Year award ceremony later this month.

"Quitting your job and setting up on your own is the dream of so many Kiwis ... but it is so sad the number of people who are struggling in business," said Daniel Batten.

"For the vast majority, there is a huge toll on their families, they make incredible sacrifices and end up being burnt out".

About 10 percent of income-earners are self-employed and about 54 percent receive wages or salary, according to Statistics New Zealand.

Mr Batten said he had run successful businesses "and those that haven't been as good".

Having a support network was critical and the self-employed workers should also spend time each day "de-stressing".

"Stress kills any relationship and that includes the one with your business," he said in a statement.

Things such as difficult cash flow, inefficient staff or marketing challenges were not the problem -- they were a result, and the actual problem normally lay in the "business mindset".

With the recession apparently ending some people were thinking again about leaving their job and setting up their own business.

"Although most people start with passion and wanting financial freedom, two years down the track most find they have less freedom than when they were in a 9-5 job," Mr Batten said.

"The reason is they hadn't prepared properly for the transition" .

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