Why Bootstrapped Startups Should Hire Interns

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Even if interns don’t usually end up staying on at the company, they can provide valuable feedback and insight into how things work within the organization and if there are any issues that need to be addressed.

Interns can also play an important role in helping you bring on new employees in the future by acting as references for current or former interns who demonstrated high levels of skill.

But if you don’t have a formal program in place and the internships you’re offering are simply a way to get free help around the office, entrepreneurs are better off doing without the extra expense and using that money to hire a part-time employee instead.

If you’re running a bootstrapped company, internships can be a great way to get extra help with everyday tasks while also attracting new talent. But it’s important to understand that they’re not always the most cost effective way to get help without spending money on full-time employees.

Interns vs Part-time Employees: What is the Difference?

Part-time employees are paid a regular salary, just like full-time employees. They are also eligible for benefits and are usually given more responsibility that interns.

How Much Should I Pay My Interns?

While there are no specific rules about how much you should pay your interns, most companies pay between $6 and $10 per hour for part-time help (in Singapore). Some entrepreneurs choose to pay interns hourly rates and others choose to pay them a stipend.

Founder of Cudy Technologies (www.cudy.co), a full-stack EdTech startup helping teachers and students teach and learn better. I am also a mentor and investor.