Government job vs business | Is government job better than business?
In this article, we will examine the advantages and disadvantages of government jobs and business one by one. By the end of this article, it will be clear to you whether a business or a job is better for you.
If you keep reading this article till the end, you will find that this is one of the best articles present on the internet for this topic.
Often we have been hearing this from our parents, relatives, and society that “government jobs are more secure than businesses” or “there are losses in businesses, etc.”
It is difficult to say in one word or sentence what is better between a government job and business. And it also depends on your personality and background.
So we will know step by step what the difference is between a government job and a business, what the advantages and disadvantages of both are, so that you can decide which is better for you.
And we will also know the thoughts of some experts about this. let’s understand.
Government job vs business- which is better(comparision)
|You will get a job according to your education and skills, or any entrance exam. If you don’t have a good education, then it is difficult to get a good job.||Business does not directly depend on your education and degrees. You can start a business even if you are not very educated.|
|Salary is fixed, and growth is linear.
For example: If your salary is ₹50,000, then according to the 10% annual increment, you have to wait 2 years for a salary of ₹65,500.
|Profits can be variable, and growth can be exponential.
For example: Growth can be 50%, 100%, or 200%. Unlimited income potential is there.
|Stability is there, and risk is comparably lesser.||not stable, and the risk is comparably greater.|
|You have to work under a boss or head and follow the rules.||You will be your own boss, and you will have freedom; you can run business according to yourself.|
|In order to get a job, you have to pass the entrance exam. There is also an age restriction on government jobs.||Some initial investments are required and some fixed expenses are also there but there is no age restriction.|
|You will not have time freedom.||You will have time freedom.|
|Experience matters here for growth.
||Experience matters here too for growth.|
You cannot build a passive income; you have to work actively.
You can build a passive income and automate the business.
|Taxation: Taxes will be deducted directly from your salary, and your net income will be less.||Taxation: Businesses get tax benefits, and you can save tax by doing tax planning. You have to pay tax on your net income. You can deduct tax from some expenses by showing them as business expenses.|