Starting your Own Business: Transition from Employee to Self-Employed, Part 1

Starting a new business is an exciting and challenging journey to take on. Any self-employed individual will tell you that the level of commitment needed to succeed should not be underestimated. Long hours and hectic schedules are the norm in the lives of the self-employed. But as they say, the bigger the risk, the bigger the reward.

So if you think you have a great business idea that you feel strongly about, go ahead and take the leap! Get ready to move from being an employee to self-employed. And to prepare you for this life-changing transition, here’s everything you need to know:

3 Ways to Make the Transition from Employed to Self-Employed:
1. Gradual Transition – You continue to work as an employee while building your business part time, until you transition the business into full time.
2. Instant Transition – If you have enough business set-up, or feel comfortable with financial reserves then you can go directly from Employed to Self-employed.
3. Job Works – Job Works is an organization which specializes in providing professional contracting services, a process that will legally transition an employee to a subcontractor for the purpose of minimizing the risks of being declared a Personal Services Business.

Do you need assistance in setting up your business? Contact KD today! We are experts in this area and will be happy to share our knowledge with you to help you build a successful business!
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