{"id":15635,"date":"2024-02-22T18:38:27","date_gmt":"2024-02-22T17:38:27","guid":{"rendered":"https:\/\/fix-blog.local\/blog\/self-employed-secondary-occupation-10-pros-and-cons\/"},"modified":"2024-09-18T11:43:15","modified_gmt":"2024-09-18T09:43:15","slug":"self-employed-secondary-occupation-10-pros-and-cons","status":"publish","type":"post","link":"https:\/\/www.accountable.eu\/en-be\/blog\/self-employed-secondary-occupation-10-pros-and-cons\/","title":{"rendered":"10 pros and cons of becoming self-employed in a secondary occupation"},"content":{"rendered":"\n

Dilemmas, dilemmas. Should you follow your dreams and become self-employed in a secondary occupation? Or, in your situation, is it better to stay a full-time employee? We make the decision easier for you with these pros and cons of having your own business as a secondary occupation.<\/strong><\/p>\n\n\n\n

The cons of becoming self-employed in a secondary occupation<\/strong><\/h2>\n\n\n\n

1. More taxes<\/h3>\n\n\n\n

Your income from your main occupation and your earnings from your secondary occupation are added together and taxed. This means you could end up in a higher tax bracket and pay more taxes. <\/strong>However, you can try to limit this by generating and deducting enough professional expenses<\/a>.<\/p>\n\n\n\n

2. More obligations<\/h3>\n\n\n\n

When you\u2019re self-employed in a secondary occupation, you have the same obligations as someone who is self-employed in a primary occupation<\/strong>. This means that in most cases, you have to pay VAT and social contributions. The good news? If you earn less than \u20ac25,000 per year from your secondary occupation, you qualify for the VAT exemption scheme for small businesses<\/a>.<\/p>\n\n\n\n

3. No additional social rights<\/h3>\n\n\n\n

Like all self-employed individuals, when you\u2019re self-employed in a secondary occupation, you (usually) pay social contributions<\/a>. However, you don’t get any additional pension or other social rights in return. <\/strong>This is because you already acquire these through your job as an employee. What\u2019s the benefit of paying social contributions? You can deduct them from your taxes, and in some cases, you’re even exempt from them.<\/p>\n\n\n\n

4. Harder to find balance<\/h3>\n\n\n\n

Pursuing your dreams in a secondary occupation requires extra time and energy<\/strong>. Losing balance can negatively affect your private life and your performance in your current job.<\/p>\n\n\n\n

5. More competition<\/h3>\n\n\n\n

Entrepreneurs in a primary occupation can devote all their time to their business. When you\u2019re self-employed in a secondary occupation, you don’t have that luxury. Therefore, there’s a higher chance you might have to refuse an assignment<\/strong>.<\/p>\n\n\n\n

The pros of becoming self-employed in a secondary occupation<\/strong><\/h2>\n\n\n\n

1. Less risk<\/h3>\n\n\n\n

Starting a secondary occupation gives you the opportunity to start slowly and test a new business project<\/strong>. Since you work at least part-time in your primary occupation, the risk is minimal: you still have your monthly salary to fall back on. Also, you continue to benefit from your social rights as an employee. You’re still guaranteed:<\/p>\n\n\n\n