Business vs Job

The person who is doing business of his own is responsible for making his own decisions and Is free to implement. Whereas the person doing the job needs the approval of the work before implement it.

A Job is the work that a person does to earn money. The job is a role of a person in society. All the more explicitly, a job is a activity, generally standard and often done in exchange for payment. Whereas, A self-employed person does not work for a specific employer who pays them a consistent salary. Self-employed individuals, earn income by contracting with a business or trade directly. And The term business refers to an organization or enterprising entity engaged in commercial, industrial, or professional activities. It can be for profit entities or non-profit organizations fulfilling a charitable mission or furthering a social cause.

Types of Jobs

A Full-Time Job

The full-time employees work at least 30 hours a week. Full-time work may also be different depending on the career. For instance, a nurses may work for 10-hours night shifts rather than a typical 9-to-5 schedule five days a week. Employers also provide benefits for full-time employees that may not be available for the part-time workers or contractors. These include health insurance or other medical benefits.

Part-Time Job

A part-time job means a position that requires few hours of work than the organization’s defined the limit for full-time jobs. Part-time jobs may be suitable for students, parents, or anyone looking to earn extra money. Part-time jobs allow flexible hours that work around the person’s schedule. Many a times working for a company part time can also lead to full-time employment. Although there are some companies, that also offer health benefits to part-time workers.

Seasonal Job

Seasonal jobs only operate for one or more seasons during the year. For example, many jobs at mountain resorts and amusement parks are seasonal and employees work for a set number of months, only during the season. Seasonal jobs do not guarantee year-round employment, it can be a good options for students who want to earn extra income during the holidays.

Contract Job

Contract employees are only hired for a set amount of time with a wage predetermined in their contract. Freelance writers and artists are some of the examples of contract employees, but even jobs like nursing can offer contract work. Being a contract employee can offer flexibility and allow one to choose their projects.

Temporary Job

Temporary jobs can be a part time or full time and last for a certain amount of time. For example, if a company needs someone to cover for an employee who is on leave, the business may hire a temporary candidate to fill in that position.

Self-Employment

The main types of self employment are independent contractor, which is an individual working for a specific job; a sole proprietorship, is a business enterprise run by an individual and which may or may not have additional employees; and a partnership, which is a business structures between two or more people with an ownership status.

Advantages and Disadvantages of Being Self-Employed

The benefits of being self-employed includes:

Being your own boss,
Creating your own schedule,
Flexibility,
Working towards your own dreams,
Taking enjoyment in the challenges of starting something from scratch,
Choosing the people you work with,
And creating your own work environment.

Disadvantages of self employment are:

Unstable income,
Difficulty picking up work
Isolation
The loss of a client.

Types of Businesses

Sole proprietorships

A sole proprietorship is owned and operated by only a single person. There is no legal separation between the business and the owner, which means that the tax and legal liabilities of the business are the responsibility of the owner.

Partnerships

A partnership is a business relationship between two or more people who conduct business together. Each partner contributes money and resources to the business and shares the loss and profits of the business. This shared profits and losses are recorded on each partner’s tax return.

Corporations

A corporation is a business wherein a gathering goes about as a solitary element. Owners are regularly referred to as investors who trade thought for the enterprise’s normal stock. A company accompanies troublesome tax collection rules for the proprietors of the business.