Employer or Employee - who are you meant to be?

Employer or Employee | SA Men

The relationship between employers and employees has seen a massive power-shift over the last fifteen years, with employees enjoying more influence over their work environment. Employers have had to keep with the times in order to ensure good staff retention by providing telecommuting, flexi hour options, positive supervisor relations, tuition assistance and mentoring programs. Employees have realised how important a good family-work balance is and employers are starting to oblige in order to ensure a happy workforce.

Being an employer pro’s & con’s

As an employer and the owner of a business, there are pro’s which make your stressfull endeavours well worth it in the long run. As an employer, you may have the flexibility to work when and where you want, enjoy tax benefits as well as have the final say over matters concerning your products and services. At the end of the day, the main reason you get into business for yourself is to make a living with added benefits and if your business is successful, the sky is the limit.

There are a number of aspects you need to consider before starting your own business. One of these aspects will be your tax responsibilities, which can actually be a benefit to you if you manage it properly. It’s a good idea to make use of a tax practitioner or accounts expert to run your books for you as it can get extremely complicated. There are quite a few websites that can explain in detail what will be expected of you. Take a look at BusinessOwl.co.za or Entrepreneurmag.co.za. for some great tips.

As an employer, it’s possible to enjoy the priviledge of flexi time on your terms, and this could mean catching your son’s Wednesday afternoon rugby match, or taking your daughter to her dance lessons after school. These kinds of benefits are worth more than money to some, and make for a great work/life balance.

You will need to keep strict records of your income and expenditure, which you need to keep a strict eye on. You will also need to monitor your cash flow and make sure there is always enough in the account to pay salaries and other vital expenditure or unforeseen expenses.

You can expect to work long hours initially and will need to make various decisions that could make or break your business. Needless to say, the initial

Pages