Shifting to self-employment and making the transition work

shifting to self employment

There’s another trend in today’s work market in Canada: many more starting their own business. As reported by The Globe and Mail, 30 percent of traditionally-employed professionals plan to transition to self-employment over the next two years. The findings are from its first-ever Canadian Self-Employment Report, which analyzed data collected online from a representative sample of more than 3,000 self-employed and traditionally-employed Canadians. It translates to an estimated total of seven million Canadians making the transition to freelance or starting their own business in a short amount of time.

According to the report, the top reasons people are choosing self-employment are more career control (37 percent) and more career fulfillment (36 percent).

Due to mass layoffs and job insecurity during this uncertain time, people have realized that the jobs that they were in were not safe, therefore many started to consider becoming self-employed. 

Making the transition isn’t easy though. Change is naturally never easy and having fears about entrepreneurship isn’t uncommon. Just like any other aspect in life when faced with changes, working through fears is the first and foremost to do. Being a cheerleader to yourself comes next as nobody can actually motivate you than yourself.  

These are the tips for people thinking about making the transition.

  1. Don’t do it alone. Make sure to surround yourself with people that are doing it already. Joining a local networking group or local economic development agency is always a great idea. Look for resources and meet people who are on the same journey. 
  2. Understand your reason to shift to entrepreneurship. If it’s just to make money, that’s not good enough and won’t sustain you in the long term or when things get tough. Have more thorough research on how you can continuously grow your business in the future. 
  3. Create a plan. Creating a business model is a tool used to visualize all the building blocks when you want to start a business and is a great place to start. Bear in mind nothing good comes instantly. It takes time and effort to achieve your goals and when you do, everything will be so worthwhile.
  4. Retrain and get a certification. Many kinds of business require a specific skill set which you can obtain through a retrain and/or certification. While getting your company ready, it wouldn’t hurt to upgrade your skills through a private career college that offers diploma programs in less than a year.

Email us today at [email protected] or visit https://thecanadiancollege.ca/diploma-programs/ for diploma programs that suit your business needs. Our diploma programs in IT, Business, and Healthcare are currently held online, so you can keep your part-time job while getting retrained. If you live in Ontario, you may eligible for the government funding, Second Career. Click here to take our free assessment!

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