Part-time Self-employment: Yes or No?

Becoming self-employed on a part-time basis: Many potential founders do not even consider this option. This can be the solution to actually realize a business idea without immediately taking the full economic risk. And of course without tearing down all bridges.

How Can I Make Something Out of My Business Idea?

You are itching to make something of your business idea. But you also see the risks of self-employment. Economically, as a freelancer or self-employed , you are completely on your own. This decision to set off into the unknown is not easy, especially for employees. 

Quit and try it alone or stay and forget the idea? The compromise: continue to work as an employee, but build up self-employment alongside the job . If you start your own company as a part-time job, you can keep your income secure and at the same time slowly prepare yourself for self-employment.

But that doesn’t work in every case. It depends on your employer, your employment relationship and of course your business idea. for the simple reason that you cannot be in two places at once. And you have to comply with the existing contracts. Things that can be done after work, outside of your employee working hours, are suitable for part-time self-employment. 

And even if your business idea doesn’t quite deliver, solutions can still be found: You can hire someone. Or how about founding a company together? You put in the time you can put in. Your teammates may be available at other times of the day.

Part-time Self-employment: Should I or Shouldn’t I?

Self-employment often means a lot of work with lower pay. Investments without reimbursement. Familiarization with accounting and of course, to find customers, acquisition. There are also costs for materials, product inventories, advertising , websites, starting a business and furnishing the office or other work space.

In other words, you need money . And not only that: you have to continue to make a living on the side. That’s why it often makes sense to keep the employee’s job.

Benefits of Establishing a Side Business

  • Low risk:  You have a fixed salary behind you that you can always fall back on. In addition, you start out as a lone fighter and therefore initially have no costs for employees. In this way you can calmly check whether this is the right path for you, whether there is a market for your offer and whether it is large and financially strong enough to be able to finance complete self-employment and, if necessary, even employees.
  • Low financial requirements: Such a start initially requires few investments. If you start small, in a home office or with an online shop, for example, you can check your suitability for self-employment.
  • Less time required: If you try out self-employment as a sideline, you don’t have to spend as much time on it as you would on starting a full-time business. Nobody rushes you, and you don’t have to be able to make a living from it for the time being.
  • Time for exploration:  Since you don’t have to live from this independence immediately, you can take more time for many things. You can explore the market in peace, you can slowly but surely build up a functioning network, you can consider and check whether working with others or founding a team would make more sense for you.

What Does the Employer Say About Part-time Self-employment?

If you can imagine trying out self-employment alongside your job, three things are important:

  • Look at your employment contract : Are there any exclusion clauses? Definitely avoid engaging in business with your employer. But perhaps you have signed a contract that restricts other, parallel professional activities.
  • Make a plan as to how work and work can work side by side. How much time do you expect to spend in the beginning when you want to prepare for your self-employment ?
  • Go to your boss or supervisor with your concerns. You do not have to present your business idea in detail, but you must be able to explain how you imagine part-time self-employment. Basically, only one thing is important for your employer: you are fully available during the agreed working hours with all your know-how and commitment. And you shouldn’t fall out of your chair when you’re overtired.

Starting Your Own Company as a Part-time Job: What Does the Family Say About It?

You should also consider your partner and children when you think about starting a part-time business. Will you still have enough time for everyone? Can you still contribute fairly to your household chores and raising children if you continue to work for your own company after work?

How Do I Prepare for Part-time Self-employment?

Once your employer has been initiated into the idea and a plan for everyday life has been made, then you can get started. But you don’t have to rush anything, because after all you’re still working in your profession. You can plan and prepare your company foundation very precisely.

Examples of preparation include:

  • business plan
  • formalities
  • Product/Service Descriptions
  • Calculation / pricing
  • Prepare website
  • Set up social media channels

You can also prepare your later work organization and processes before the actual founding. For example, you can think about how you want to do your bookkeeping.

What is the Best Way to Start Your Own Company Part-time?

As long as your employer is in the know, you can make contacts and apply for your new part-time pillar even before the company is founded. Not only new ones, but certainly also some of your established contacts can now be useful. If you already have a well-maintained network, it will be all the easier to become self-employed on a part-time basis.

In addition to your job, you can slowly build up your company. Later you may decide to reduce the clerk job to part-time or give it up altogether. But for a start, starting a business part-time is definitely a good thing.

In our magazine we have collected many ideas for you that you can implement and become self-employed in various areas, such as as a software developer , graphic designer or freelance journalist.

Facilitate your path to self-employment

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