what are the benefits of owning your own company?
84287
Tax write-offs.\nSee above.
373503
This depends on your goals, level of risk you are willing to accept, and many other factors.  For me, I like shares of small start-up companies.  Very high risk, but very high rewards IF it pans out.
1148312
Yes there is an advantage to creating a limited liability company.  As one of the other answers says, if someone slips and falls, the LLC gets sued and not you.  However, the loan you have on the property is probably signed by you personally, and if you lose the house and have the mortgage, it does still hurt you.\n\nBut the advantage is it limits the loss to one house instead of putting all your assets on the line.  You should also have a different LLC manage your buildings in case there is negligence in not doing some repairs.  LLC's will not protect you from negligence, but the more you put in front the more you are protected.  I usually tell people, don't do anything stupid.\n\nOne thing to remember, in most states, if an LLC owns the rental property, you HAVE to have an attorney file the eviction.  most landlords do it themselves to save money.  The state of ohio recently mandated that if an LLC owns the property, an attorney has to be used.  Not direct point, but that's essentially what it said.  As for other states, I would guess they are similar.\n\nGood luck and rental property is a good way to go
605869
if you're a self employed family, you could probably still get a group insurance plan with your home based business as long as it was at least 3 people. I'm sure you know that a group plan has benefits over a single plan such as treating pre-existing conditions and no time limit on start of benefit, etc.
49154
One of the benefits is that you become eligible to\na lot of higher educational opportunities.\nAlso a lot of professional courses can be\npursued once you have a basic degree in science.\nYou become eligible for employment in industry and\ngovt. institutions depending upon your subject of\nspecialization.\n\nOf course, if you have acquired the basic skills\nin experimentation, ability to analyze problems \nlogically, learnt about the scientific method\nand philosophy of science; there is no limit to\napplying these in your personal life as well.
429125
If your a successful entrepenuer, sure, why not. It can be stressful and running a small business alone can be alot of work. As long as you don't overwork yourself and don't take it all too seriously. It's great to be responsible for your own destiny and not have a boss.
335807
Depends on what state you are in- different states have different laws.  LLC is a really new concept.  Your state may not even allow them yet.\n\nThe major benefit of becoming a LLC is you avoid more personal liability than you do with a partnership.
529735
It depends on you, your goals, your capability, your appetite for risk.\n\nNot everyone is cut out to be an entrepreneur. Some are better off as salaried employees, while some are more willing and able to ride the ups and downs of self employment.\n\nA person who decides to start his or her own business face a long, winding road that is tumultuous on occasion and blocked by obstacles.  While some people may have the motivation and desire for business ownership, they may not have taken the time to properly investigate and research their abilities and their business ideas.  As a result, while thousands of new businesses are started each year, many more either fail or discontinue, and others transfer ownership or control.  If the business fails – and it could – it may not only wreak havoc with your personal savings and other assets, but it could give your ego a tremendous blow.
69572
The major advantages are that there an unlimited number of members allowed, there is generally no personal liability of the members, the entity is not taxed (profits and losses are passed through to the members), ease in filing with the states, and it is generally run through a Manager, rather than a board of directors (great for small companies or one that you wish to be similar to a closely-held corporation)
481025
It all depends on what you want to do.  If you are a very hard worker, very independent, good with people, and have an entrepreneurial spirit, then your own business might be a better fit for you.  If you don't mind working for "the man" and don't want all that responsibility for the business' success or failure, then the large company thing might be better.
61422
You could possibly make more money if you start your own business, provided that you are able to: a) cover your current living expenses; b) cover yourself with a reasonable set of benefits (i.e. medical, retirement); and c) cover your tax/medicare requirements, all of which are usually higher since a typical employer will cover a portion of these for the employee.\n\nYou may wish to augment being just a technician with perhaps also providing "turn key" computer systems at competitive prices.  By getting a business license in your city/state (which is usually affordable), you get the advantage of a) having certain tax write-offs for money that is put into your business (such as buying books, tools or paying for travel); and b) you get to buy items at wholesale prices (even better deals in bulk) that can help keep your prices competitive.\n\nYou will need to do a bit of research in order to determine how your pricing structure will match your expensives; possibly by playing some "what if" games with the numbers.
137584
By doing that you automatically give up control of the company since they own 62% of it, meaning they can fire you anytime they want. Be careful here, there are several books available for people starting their own companies, I would consult one before giving away this much equity in your new company.
646608
Honestly, the answer is, only if it is local.\n\nIt really depends on the company.  I've gone to some that were full of fireworks (the company had not done well that year), and others that were extremely boring.  The smaller companies are probably more interesting...\n\nThe biggest benefit of going is getting a real feel of the current climate.  That's hard to explain, but in being there one can get a handle on the mood of the company.  Ask yourself, did they seem excited about upcoming opportunities, or did they seem exhausted fighting aligators?\n\nIf you go listen to their words, AND how they say them.
889427
Advantage=  learn time & money management, how to plan ahead, how to follow directions, how to make practical, independent judgements affecting others, develop customer service skills, develop self discipline, pride in becoming self-sufficient, learn unexpected skills, meet new challenges, reach out for greater responsibility, train someone else, supervise someone else, be there to handle an unexpected urgency., discover working isn't as hard as it seemed when you were unemployed., learning to enjoy the early morning hours.\nDisadvantage= may be temporarily stuck with monster boss from he--, may have boring job, pay too low (move on!).
643414
advantage:\nexpand your market and make more $\ndisad:\nlearning/dealing with different cultures, languages and laws\nunstable governments\ndifferent currencies
344043
I believe that an excellent way to try yout hand at running your own business is to choose a network marketing company that has a product that you can relate to. You will be responsible for sales and team leadership without the huge expense and financial risk associated with other business start-ups. You can do this part-time until you have developed a good income stream. This way you don't have to leave the paycheck and insurance benefits that you get at your current job until you are ready. There is a lot more to choosing the right company. If this idea interest you write to me at bruce@getvia.com and I can share even more details on how to choose wisely.
985315
Given youre the owner of the company. advantages includes a subcontractor can be called in when necessary rather than having them working for you permanently. You dont have to worry about pension, national insurance, holiday pay etc. disadvantages - subcontractprs may be hard to find in the area you want, they charge per hour, are not under your control