Uploaded July 2026 | Updated September 2026, 2 weeks ago
What if you could give that "World's Best Boss" mug to...yourself?
Starting a business may sound like a dream come true. But if it was that easy, wouldn't everyone do it? You gain the ability to set your own schedule, the ability to charge what you think you’re worth, and the freedom to wear what you like. But consider the things you might give up, such as a predictable, steady paycheck; health insurance; and a match to your 401(k) contribution.
Is it all worth it? Here are some questions to ask yourself before turning in that resignation letter.
-Can I turn a side hustle into a business?
-How do I budget if I can’t predict my income?
-How do I pay taxes if I am self-employed?
-How do I save for retirement if I am self-employed?
Learn more from Britannica:
A self-employment financial checklist: britannica.com/money/self-employment-financial-checklist
How to stay on top of self employment taxes: britannica.com/money/self-employment-tax-reporting
Entrepreneurs vs. small business owners vs. corporate executives: What’s the difference? britannica.com/money/what-is-an-entrepreneur-vs-business-owner
Business structure basics (Corporation, partnership, sole proprietor, LLC): britannica.com/money/types-of-business-structures
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#EncyclopaediaBritannica
Inspiring curiosity and the joy of learning since 1768.
Web: britannica.com
Facebook: facebook.com/Britannica
Twitter: twitter.com/Britannica
Instagram: instagram.com/Britannica
What if you could give that "World's Best Boss" mug to...yourself?
Starting a business may sound like a dream come true. But if it was that easy, wouldn't everyone do it? You gain the ability to set your own schedule, the ability to charge what you think you’re worth, and the freedom to wear what you like. But consider the things you might give up, such as a predictable, steady paycheck; health insurance; and a match to your 401(k) contribution.
Is it all worth it? Here are some questions to ask yourself before turning in that resignation letter.
-Can I turn a side hustle into a business?
-How do I budget if I can’t predict my income?
-How do I pay taxes if I am self-employed?
-How do I save for retirement if I am self-employed?
Learn more from Britannica:
A self-employment financial checklist: britannica.com/money/self-employment-financial-checklist
How to stay on top of self employment taxes: britannica.com/money/self-employment-tax-reporting
Entrepreneurs vs. small business owners vs. corporate executives: What’s the difference? britannica.com/money/what-is-an-entrepreneur-vs-business-owner
Business structure basics (Corporation, partnership, sole proprietor, LLC): britannica.com/money/types-of-business-structures
~~~
#EncyclopaediaBritannica
Inspiring curiosity and the joy of learning since 1768.
Web: britannica.com
Facebook: facebook.com/Britannica
Twitter: twitter.com/Britannica
Instagram: instagram.com/Britannica
