Are you tired of your work and your boss’s attitude and do you feel that you are being paid enough for the work you are doing. Then self employment is best for you.
Being self-employed can have its advantages. These include: the opportunity to choose your own hours; independence and freedom to try out new ideas; increased job satisfaction.
The risks depend on how you set up the business. If you set up a limited business and sell shares to friends or family, you are less personally liable for any costs if the business doesn't succeed. However, this means that you have the responsibility of making sure that your friends and family's investments aren't lost too.