SEC - S15W5 : WHICH ONE IS BETTER?

Helloa dn welcome to my blog . I hope you all are doing well and enjoying this season of engagement challange. Let's discuss a very intersting topic :

Source

An employee is an individual who works for an organization, company, institution, or government and is bound to abide by the rules and regulations led by the employer. They are paid wages or a salary, which is subject to increment based on their performance.

An entrepreneur, on the other hand, is an individual who generates income from the business they operate. To put it simply, entrepreneurs are businessmen. They start their own business, take financial risks, and also experience profit or loss, which may be disproportionate compared to the fixed salary of an employee.

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Employee or Entrepreneur

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I am an employee in the government sector, but I would prefer entrepreneurship over employment. Although each of these has benefits and disadvantages, entrepreneurship offers some benefits that outweigh the benefits of employment.

Benefits of Employment:

• There is stability in terms of having a fixed salary, which an employee is entitled to receive every month.

• Besides the monthly salary, employees also enjoy benefits like health insurance, post-retirement pension, travel allowances, residential allowances, etc.

• Employees have a disciplined life with fixed working hours, allowing them to execute their plans well. Usually, there is no compulsion to work extra hours in a particular job.

• Employees are provided numerous learning opportunities in the form of training programs, workshops, seminars, etc.

• An employee is not directly subjected to market pressure, unlike an employer who may indirectly impact employees.

• An employee's income is subject to fixed and timely increments.

Challenges of Employment:

• An employee has to work like a servant under an employer and is bound to follow the rules and regulations laid by the employer. They have no control over decision-making, governance, or other organizational affairs.

• An employee has a fixed income and limited earning opportunities.

• An employee must meet the expectations and targets of the employer; failure may lead to punitive consequences like salary deductions.

Entrepreneur: Benefits:

• An entrepreneur is free to make decisions or policies that they deem fit for their business.

• The earning potential in entrepreneurship is significantly higher than employment, allowing for substantial profits depending on the business's success.

• An entrepreneur has the freedom to choose working hours, workplace location, and culture.

• Entrepreneurs have absolute control to bring innovative ideas and execute them to see results.

Challenges of Entrepreneurship:

• Entrepreneurs face financial risks as invested money can be lost if the business doesn't work.

• Salary stability is absent; it varies based on business success. While there's profit potential, the risk of losses cannot be ignored.

• Entrepreneurs are subjected to constant market pressure and must continually adapt to match market standards and sustain their business.

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Saving or investing

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I would prefer investing of spare funds after keeping certain amount of funds to meet emergency requirement. Each of these financial plannings have certain short term and long term advantages .

Short term gains of saving are liquidity and security . By liquidity we mean that funds are readily available to be used anytime especially in times of emergency when funds must be readily available to be utilised . Bu security we mean that in saving account there is no risk of significant depreciation as can be seen in investing.

Lomg term advantage of savings is that funds can be utilised any time for catching any opportunity that arises. Opportunity can be in any field that caters to day to day life. Moreover, saving imparts a descipline to keep a check of expenses to spare funds to be saved .

Investing is a financial plannings that involving use of funds to purchase stocks, bonds , cryptos , real estate etc . Short term advantage of investing is that there is a potential for higher returns. Moreover, investing offers an opportunity to diversify the investment.

Long term advantage of investing lies in its compounding of returns. It is investing which can make investor wealthy in long run.

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Steemit or Hive

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I would prefer steemit over hive for the following reasons :

• It is a parent platform that rewards content creators and curators with cryptocureencies like steem, SBD and TRX.

• it promotes creation of quality content because of strict curation policy that discourages all sort of plagiarism including AI content. In that way, grey matter is stimulated here.

• Steemit fosters developement of niche among people of similar interests. It was encourages interaction and therefore fosters development of string community. It encourages supporting each other and therefore offers a sustainable platform for all.

• Steemit promotes learning through diverse range of communities catering to different subjects. Experts from various fields share content here that promotes learning.