Some employment contracts even contain a non-competition clause beyond the employee’s departure from the company.
Be sure to peruse your contract carefully before beginning any self-employed part-time work to ensure that you are legally covered.
The plan will also help you to identify the risks you are taking with your side gig. Can you raise it yourself or do you need a bank loan?
You may need to rent and furnish an office or workshop.
Depending on the desired activity, setting up a business can initially require high investments.
The more you can borrow from your current income, the less dependent you are on savings and bank loans.
Maybe you expect a longer build-up phase, or you don’t want to give up your main career.
In any of these scenarios, part-time self-employment is a good option.
Here’s a breakdown of the ways your side gig could negatively affect your main job: Many employers include a non-compete clause in their employee contracts.
This is to ensure that you do not take the information, skills and contacts you acquire at your main job elsewhere (either to a new employer, or to a self-employed side job).